The Random Walk Hypothesis holds that security prices cannot be predicted and that the market is generally efficient, meaning that all relevant information is reflected in market prices. While this may in fact be true for the majority of securities at any given time, it appears manifestly untrue for certain securities at certain times.
Value investing may be simply characterized as rational investing. The goal is to identify securities trading at prices far below intrinsic value and to only make purchases when a substantial margin of safety exists.
The Rational Walk was created in 2009 to provide a platform to publish equity research based on value investing principles. Since then, over 800 articles have been published on a variety of topics including profiles of individual companies, general investment principles, current events, and book reviews.
In January 2020, The Rational Walk launched Rational Reflections, a free weekly newsletter covering current events, investing, personal finance, book reviews, and other topics of general interest.
This website is published by The Rational Walk LLC. Use of the site is subject to copyright and disclaimers.