Worldly Wisdom in a Noisy World
The Rational Walk publishes articles providing in-depth content worthy of your time and attention.
Subjects range from markets and investing to philosophy, psychology, and the general human condition. A list of our best articles is a good place for new readers to begin.
Rational Reflections, a free newsletter, provides timely commentary and links to interesting reading on a weekly basis. Over three thousand readers receive the newsletter on Wednesday mornings.
The Rational Walk was created in 2009 to provide a platform to publish equity research based on value investing principles. Since then, over 850 articles have been published on a variety of topics including profiles of individual companies, general investment principles, current events, and book reviews.
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.
Never before has so much information been freely available to so many people, yet the attention span of society seems to be shrinking rather than expanding. Our goal is to provide content that is interesting to read, contains original ideas, and can stand the test of time.
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