"A random walk down Wall Street" is quite the contradiction of a book, though. It simultaneously claims that markets are so efficient that a lay-person cannot profit from them while acknowledging the existence of asset bubbles. The whole "efficient market hypothesis" to me seems much more like a religious belief among neoclassical finance types than anything actually scientific.

Furthermore, there's a fair amount of research that suggests that Brownian motion/random walk does not at all explain the movements of a stock's price [1][2][3]

[1] https://papers.ssrn.com/sol3/papers.cfm?abstract_id=346975

[2] http://assets.press.princeton.edu/chapters/s6558.pdf

[3] https://www.jstor.org/stable/4538722?seq=1#page_scan_tab_con...