First 100 pages
OK, so i'm not done with the book yet, but I'm already irked that i read the first 100 pages when it could easily have been condensed into twenty or thirty pages. Soo boring... Get to the meat already!

Text book
Very informative and practical knowledge of Wall Street and investing. Written much like a primer or text book.

Not bad but....
I was hoping for more from this book but overall it was an okay read. The book does a good job of outlining the upside to index investing and points out the pitfalls of "trading" strategies. The last few chapters (not including the chapter on derivatives) are good for people that have not taken a financial literacy class or have little experience in managing their own personal cash flow. The last few chapters alone should be required reading for every college graduate since, IMO, it outlines some really good habits of saving and investing that can provide for long-term financial security.

Required reading
Anyone who has any vested interest in the market should read this book. No trendy notions, no get rich quick ideas. Just a well written primer on investing. Complex theoretical and technical ideas are condensed to easily understood ideas w/o dilution of the message. The author uses real life historical events to illustrate the message being conveyed.

While written nearly 40 yrs ago, the material is as relevant as ever. In fact, maybe even more relevant due to all of the static that is promulgated as investment "advice", that only serves to promote the "experts" own financial accumulation. The only agenda that Dr Malkiel has is the conveyance of solid investment knowledge.

A MUST READ
I won't summerize as others have already done so. I will only say that this book changed the way that I save, invest, and spend. In that respect it changed my life.