Portfolio Selection: Efficient Diversification of Investments
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Summary
This is a classic book, representing the first major breakthrough in the field of modern financial theory. In effect, it created the mathematics of portfolio selection in a model which has turned out to be the indispensable building block from which the theory of the demand for risky securities is constructed.
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This is a classic book, representing the first major breakthrough in the field of modern financial theory. In effect, it created the mathematics of portfolio selection in a model which has turned out to be the indispensable building block from which the theory of the demand for risky securities is constructed.
Title: Portfolio Selection: Efficient Diversification of Investments
Author: Markowitz, Harry M.
ISBN: 9781557861085
Binding:
Publisher: John Wiley and Sons Ltd
Publication Date: 1991-03-14
Number of Pages: 402
Weight: 0.5672 kg
Modern portfolio theory gives a rigorous mathematical justification for the time honored investment maxim that diversification is a sensible strategy for individuals who wish to reduce their risks. Invented in the 1950s by Harry Markowitz in this book, the theory provides a firm foundation for the intuition that you should not put all your eggs in one basket and shows investors how to combine securities to minimize risk. Butron G Malkiel, author of A Random Walk Down Wall Street In every field of study it is possible to look back and identify a person or event that caused a major change in the direction or development of the field. In investments it is clear that the seminal work by Harry Markowitz on portfolio theory changed the field more than any other single event. Frank K. Reilly, University of Notre Dame, Indiana
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