A Random Walk Down Wall Street

The Nifty Fifty craze ended like all other speculative manias.

Hard as it is to believe, institutions started to speculate in blue chips.

In the debacle that followed, the premier growth stocks fell completely from favor.

Security analysts rationalized these prices.

Many businesses were managed not for the creation of long-run value but for the immediate gratification of speculators.

Enron set the standard for thinking outside the box—the quintessential killer app, paradigm-shifting company.

The story does not end there.

Investors should be very wary of purchasing today’s hot 'new issue.'

Technical analysis is the method of predicting the appropriate time to buy or sell a stock used by those believing in the castle-in-the-air view of stock pricing.

Fundamental analysts strive to determine a stock's proper value. Value in this case is related to a company's assets, its expected growth rate of earnings and dividends, interest rates, and risk.