2008년 5월 15일 목요일

Questioning a detail about the 9th edition of A Random Walk

받는이 : bmalkiel@princeton.edu
보낸시간 : 2008-05-14 (수) 17:33:48 [GMT +09:00 (서울)]
보낸이 : "김홍식" albert386@naver.com

Dear Professor Burton Malkiel:

I am very happy to write you an email message from here Korea.Actually, I've been translating the 9th edition(the one of 2007) of your book, "A Random Walk Down Wall Street". My senior colleague and I were, and continue to be, very pleased to have the opportunity of thinking through, discussing about, and finally translating the book into Korean.

In the meantime, I found a minor detail to question on the page of 332 and 333 of this book. The point is as follows:

(1) In the 2nd paragraph on the page of 332, one finds the explanation concerning the Figure of the next page:

"Note that if you held a diversified stock portfolio (such as S&P 500-Stock Index) during the period from 1926 through 2005, you would have earned, on average, a quite generous return of about 10.5 percent."

(2) On the other hand, the title of the Figure itself on the page of 333 reads "Range of Annual Rates on Common Stocks for Various Time Periods, 1950-2005.

I suppose that either 1926 or 1950 might be a misprint. I reached to this idea viewing that several remarks in these pages exactly coincide with the numbers on the Figure, and thinking that the two data sets(the one used in the passages and the other used in the Figure) must be the same. My personal guess is that the former(1926) is the right one.

If you do me a favor of verifying this detail, that'll be very helpful for our job and the readers of your book in Korea.

Looking forward to having your comments soon, I'd like to thank you in advance.

Sincerely,
Seoul, Korea

Hong-Shik "Albert" Kim
albert386@naver.com

관련 게시물: 시장변화를 이기는 투자: 랜덤워크(A Random Walk Down Wall Street)

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