Burton G. Malkiel

Burton G. Malkiel is an American economist, professor, and author widely recognized for advocating the efficient market hypothesis and index fund investing. Earning his bachelor’s and MBA from Harvard University and his Ph.D. from Princeton University, Malkiel served as dean of the Yale School of Management and chemical bank professor of economics at Princeton.

Malkiel served on the President’s Council of Economic Advisers and spent decades on corporate boards, including Vanguard. In 1973, he published his investment classic, A Random Walk Down Wall Street.

The book revolutionized individual investing by arguing that broad-market index funds consistently outperform actively managed portfolios over time after fees. Now in its numerous updated editions, Malkiel’s work remains one of the most revered and influential financial guides ever written.