On the obverse, however, various studies have shown that despite these departures from efficiency, asset prices do typically exhibit a random walk and that one cannot therefore consistently outperform market averages ("alpha").[44] The practical implication, therefore, is that passive investing (e.g. via low-cost index funds) should, on average, serve better than any other active strategy.[45] Burton Malkiel's A Random Walk Down Wall Street—first published in 1973, and in its 11th edition as of 2015—is a widely read popularization of these arguments.