This has been a long time coming for me and someone that I've admired as an investor for a very long time. There aren’t many books about investing that remain relevant over 40 years after they were first published. Burton Malkiel’s A Random Walk Down Wall Street, first published in 1973 and now in its twelfth edition, is one.

Burton Malkiel, professor emeritus of economics at Princeton University and author of the seminal finance book “A Random Walk Down Wall Street,” told CNBC’s “ETF Edge” that investors would be wise to “sit tight” and “stay the course” in light of the stock market’s latest sell-off.

Malkiel’s book, now in its 12th edition, kickstarted the investing industry’s foray into indexing, influencing top minds including Vanguard founder Jack Bogle, the creator of the index fund.