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Harry Markowitz

Definition

Harry Max Markowitz is an American economist, and a recipient of the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences.

Who is 'Harry Markowitz'

A Nobel Memorial Prize winning economist who devised the modern portfolio theory in 1952. Markowitz's theories emphasized the importance of portfolios, risk, the correlations between securities and diversification. His work changed the way that people invested.

Explaining 'Harry Markowitz'

Prior to Markowitz's theories, emphasis was placed on picking single high-yield stocks without any regard to their effects on portfolios as a whole. Markowitz's portfolio theory would be a large stepping stone towards the creation of the capital asset pricing model.


Further Reading


A portfolio of Nobel laureates: Markowitz, Miller and Sharpe
www.aeaweb.org [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

Harry Markowitz and the discretionary wealth hypothesisHarry Markowitz and the discretionary wealth hypothesis
jpm.pm-research.com [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

An interview with Nobel Laureate Harry M. MarkowitzAn interview with Nobel Laureate Harry M. Markowitz
www.tandfonline.com [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

Harry M. Markowitz's contributions to financial economicsHarry M. Markowitz's contributions to financial economics
www.jstor.org [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

Foundations of portfolio theoryFoundations of portfolio theory
www.jstor.org [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

Portfolio theory: as I still see itPortfolio theory: as I still see it
www.annualreviews.org [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …

The early history of portfolio theory: 1600–1960The early history of portfolio theory: 1600–1960
www.tandfonline.com [PDF]
Harry M Markowitz received the Nobel Prize in Economics in 1990 for his pioneering work in portfolio theory. He also received the von Neumann Prize from the Institute of Management Science and the Operations Research Institute of America in 1989 for his work in portfolio …



Q&A About Harry Markowitz


Where does he teach now?

At the Rady School of Management at the University of California, San Diego (UCSD).

What did Markowitz's theories emphasize?

His theories emphasized the importance of portfolios, risk, correlations between securities and diversification.

What did he study at the University of Chicago?

He studied economics.

Who is Harry Markowitz?

He is a Nobel Memorial Prize winning economist who devised the modern portfolio theory in 1952.

What is Harry Markowitz's profession?

He is an economist.

Who did he receive awards from and when?

The John von Neumann Theory Prize in 1989 and the Nobel Prize in Economics in 1990.

What was done prior to Markowitz's theories?

Prior to his theories people picked single high-yield stocks without any regard to their effects on portfolios as a whole.

In what year did he devise modern portfolio theory?

He devised it in 1952.

How would his work change the way that people invested?

His work changed the way that people invested by emphasizing diversification and risk management.

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