Portfolio Theory: As I Still See It

• Published in: Annual review of financial economics Vol. 2; no. 1; pp. 1 - 23
• Main Author: Markowitz, Harry M
• Format: Journal Article
• Language: English
• Published: Annual Reviews 01.01.2010
• Series: Annual Review of Financial Economics
• Subjects: capital asset pricing model; Friedman-Savage; MPT; prospect theory; stochastic dominance

This essay summarizes my views on (a) the foundations of portfolio theory and its applications to current issues, such as the choice of criteria for practical risk-return analysis, and whether some form of risk-return analysis should be used in fact; (b) hypotheses about actual financial behavior, a...