Random Walk vs. Non-Random Walk Introduction The famous argument between random and non-random walkers is still going strong. These theories are best illustrated by two competing books. Burton Malkiel's 1973 book A Random Walk Down Wall Street is now considered a classic in the field of investment literature. Princeton economist Malkiel contends that investors cannot beat the main indices because price fluctuations are mostly random. Random Walk vs Non-Random Walk The counterargument is presented in the 2001 book A Non-Random Walk Down Wall Street, which was aptly titled by Andrew W. Lo and A. Craig MacKinlay. MacKinlay, a professor of finance at Wharton, and Lo, a professor of finance at MIT, contend that there are predictable components and that price swings are not entirely random. Now let's get the fight started! wanty to learn about technical Analysis in brief Random Walk Theory With…