Portfolio Theory

<body topmargin="0" leftmargin="0" stylesrc="../_private/template_title.htm" bgcolor="#FFFFFF" link="#333366" vlink="#000000" alink="#000000"> <table border="0" cellspacing="0" width="100%" cellpadding="10" style="border-collapse: collapse" bordercolor="#111111" id="table11"> <tr> <td width="100%" bgcolor="#FFFFCC"> <p class="header_black">Finance: <span class="header_gold">Portfolio Theory</span></td> </tr> </table> <div align="left"> <table border="0" cellspacing="4" style="border-collapse: collapse" bordercolor="#111111" width="100%" cellpadding="0" id="table12"> <tr> <td width="740" bgcolor="#FFFFFF"> <div align="center"> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="468" id="table13"> <tr> <td> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> </div> <div align="center"> <div align="center"> <table border="0" cellpadding="6" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table14"> <tr> <td valign="top" align="right" height="198" width="150"> <p align="left"> <map name="FPMap420"> <area href="../titles/sharpe_william_(2006).htm" shape="rect" coords="0, 0, 132, 199"> </map> <img border="0" src="../images/book_sharpe_william_(2006).jpg" width="133" height="200" usemap="#FPMap420"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" width="100%" id="table15"> <tr> <td width="100%"> <p class="book_title">Investors and Markets</td> </tr> <tr> <td width="102%" class="book_details_tags" valign="top" height="16" align="left"> <table border="0" cellpadding="2" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table16"> <tr> <td width="100%" colspan="5"> <p class="book_details">William Sharpe</td> </tr> <tr> <td width="50" class="book_details_tags"> <map name="FPMap421"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/star_5.gif" width="90" height="16" usemap="#FPMap421"></td> <td width="25" class="book_details_tags"> <map name="FPMap422"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/tech_2.gif" width="90" height="16" usemap="#FPMap422"></td> <td width="25" class="book_details_tags"> 2006</td> <td width="90%" class="book_details_tags" align="right" valign="top"> <p align="right"><map name="FPMap423"> <area target="_self" href="../titles/sharpe_william_(2006).htm" shape="rect" coords="0, 0, 90, 25" > </map> <img border="0" src="../images/pointer_review.gif" usemap="#FPMap423" width="90" height="25" ></td> <td class="book_details_tags" align="right" valign="top"> <script language="JavaScript"> function popUp(URL,NAME) { amznwin=window.open(URL,NAME,'location=yes,scrollbars=yes,status=yes,toolbar=yes,resizable=yes,width=380,height=450,screenX=10,screenY=10,top=10,left=10'); amznwin.focus();} document.open(); document.write("<a href=javascript:popUp('http://buybox.amazon.com/exec/obidos/redirect?tag=contingencyanaly&link_code=xsc&creative=23424&camp=2025&path=/dt/assoc/tg/aa/xml/assoc/-/0691128421/contingencyanaly/ref=ac_bb1_,_amazon')><img border=0 src=../images/pointer_amazon.gif alt='Buy from Amazon.com' ></a>"); document.close(); </script> <noscript> <form method="POST" action="http://buybox.amazon.com/o/dt/assoc/handle-buy-box=0691128421"> <input type="hidden" name="asin.0691128421" value="1"> <input type="hidden" name="tag-value" value="contingencyanaly"> <input type="hidden" name="tag_value" value="contingencyanaly"> <input type="image" name="submit.add-to-cart" value="Buy from Amazon.com" border="0" src="../../../titles/src=images/pointer_amazon.gif"> </form></noscript> </td> </tr> </table> </td> </tr> <tr> <td class="book_details_tags" valign="top" align="left"> <p class="body"><strong style="font-weight: 400">This book reminds me a lot of the 1959 book by the author's mentor, Harry Markowitz. In that book, Markowitz elaborated on his theory of portfolio selection. People often don't realize that Markowitz intended that as an entirely practical book that would introduce his ideas to the masses—or at least the investment managers who worked for the masses</strong> ... <a href="../titles/sharpe_william_(2006).htm">Read more</a></td> </tr> </table> </td> </tr> </table> </div> <table border="0" cellpadding="6" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table17"> <tr> <td valign="top" align="right" height="198" width="150"> <p align="left"> <map name="FPMap53"> <area href="../titles/maringer_dietmar_(2005).htm" shape="rect" coords="0, 0, 135, 199"> </map> <img border="0" src="../images/book_maringer_d_(2005).jpg" usemap="#FPMap53" width="136" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" width="100%" id="table18"> <tr> <td width="100%"> <p class="book_title">Portfolio Management with Heuristic Optimization</td> </tr> <tr> <td width="102%" class="book_details_tags" valign="top" height="16" align="left"> <table border="0" cellpadding="2" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table19"> <tr> <td width="100%" colspan="5"> <p class="book_details">Dietmar Maringer</td> </tr> <tr> <td width="50" class="book_details_tags"> <map name="FPMap51"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/star_5.gif" usemap="#FPMap51" width="90" height="16"></td> <td width="25" class="book_details_tags"> <map name="FPMap52"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/tech_3.gif" usemap="#FPMap52" width="90" height="16"></td> <td width="25" class="book_details_tags"> 2005</td> <td width="90%" class="book_details_tags" align="right" valign="top"> <p align="right"><map name="FPMap419"> <area target="_self" href="../titles/maringer_dietmar_(2005).htm" shape="rect" coords="0, 0, 90, 25" > </map> <img border="0" src="../images/pointer_review.gif" usemap="#FPMap419" width="90" height="25" ></td> <td class="book_details_tags" align="right" valign="top"> <script language="JavaScript"> function popUp(URL,NAME) { amznwin=window.open(URL,NAME,'location=yes,scrollbars=yes,status=yes,toolbar=yes,resizable=yes,width=380,height=450,screenX=10,screenY=10,top=10,left=10'); amznwin.focus();} document.open(); document.write("<a href=javascript:popUp('http://buybox.amazon.com/exec/obidos/redirect?tag=contingencyanaly&link_code=xsc&creative=23424&camp=2025&path=/dt/assoc/tg/aa/xml/assoc/-/0387258523/contingencyanaly/ref=ac_bb1_,_amazon')><img border=0 src=../images/pointer_amazon.gif alt='Buy from Amazon.com' ></a>"); document.close(); </script> <noscript> <form method="POST" action="http://buybox.amazon.com/o/dt/assoc/handle-buy-box=0387258523"> <input type="hidden" name="asin.0387258523" value="1"> <input type="hidden" name="tag-value" value="contingencyanaly"> <input type="hidden" name="tag_value" value="contingencyanaly"> <input type="image" name="submit.add-to-cart" value="Buy from Amazon.com" border="0" src="../../../titles/src=images/pointer_amazon.gif"> </form></noscript> </td> </tr> </table> </td> </tr> <tr> <td class="book_details_tags" valign="top" align="left"> <p class="body"><strong style="font-weight: 400">This is a nice book that looks at optimization from a financial perspective. It introduces readers to a category of optimization techniques called heuristic optimization and applies them to financial tasks, especially portfolio optimization</strong> ... <a href="../titles/maringer_dietmar_(2005).htm">Read more</a></td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="6" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table20"> <tr> <td valign="top" align="right" height="198" width="150"> <p align="left"> <map name="FPMap3"> <area href="../titles/satchell_and_scowcroft.htm" shape="rect" coords="0, 0, 139, 199"> </map> <img border="0" src="../images/book_satchell_and_scowcroft.jpg" usemap="#FPMap3" width="140" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" width="100%" id="table21"> <tr> <td width="100%"> <p class="book_title"><font size="3">Advances in</font><br> Portfolio Construction and Implementation</td> </tr> <tr> <td width="102%" class="book_details_tags" valign="top" height="16" align="left"> <table border="0" cellpadding="2" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table22"> <tr> <td width="100%" colspan="5"> <p class="book_details">Stephen Satchell and Alan Scowcroft (Eds.)</td> </tr> <tr> <td width="50" class="book_details_tags"> <map name="FPMap424"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/star_4.gif" usemap="#FPMap424" width="90" height="16"></td> <td width="25" class="book_details_tags"> <map name="FPMap2"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map> <img border="0" src="../images/tech_5.gif" usemap="#FPMap2" width="90" height="16"></td> <td width="25" class="book_details_tags"> 2003</td> <td width="90%" class="book_details_tags" align="right" valign="top"> <p align="right"><map name="FPMap34"> <area target="_self" href="../titles/satchell_and_scowcroft.htm" shape="rect" coords="0, 0, 90, 25" > </map> <img border="0" src="../images/pointer_review.gif" usemap="#FPMap34" width="90" height="25" ></td> <td class="book_details_tags" align="right" valign="top"> <script language="JavaScript"> function popUp(URL,NAME) { amznwin=window.open(URL,NAME,'location=yes,scrollbars=yes,status=yes,toolbar=yes,resizable=yes,width=380,height=450,screenX=10,screenY=10,top=10,left=10'); amznwin.focus();} document.open(); document.write("<a href=javascript:popUp('http://buybox.amazon.com/exec/obidos/redirect?tag=contingencyanaly&link_code=xsc&creative=23424&camp=2025&path=/dt/assoc/tg/aa/xml/assoc/-/0750654481/contingencyanaly/ref=ac_bb1_,_amazon')><img border=0 src=../images/pointer_amazon.gif alt='Buy from Amazon.com' ></a>"); document.close(); </script> <noscript> <form method="POST" action="http://buybox.amazon.com/o/dt/assoc/handle-buy-box=0750654481"> <input type="hidden" name="asin.0750654481" value="1"> <input type="hidden" name="tag-value" value="contingencyanaly"> <input type="hidden" name="tag_value" value="contingencyanaly"> <input type="image" name="submit.add-to-cart" value="Buy from Amazon.com" border="0" src="src=images/pointer_amazon.gif"> </form></noscript> </td> </tr> </table> </td> </tr> <tr> <td class="book_details_tags" valign="top" align="left"> <p class="body"><strong style="font-weight: 400">If the <i>Journal of Finance</i> devoted an entire issue to research papers on portfolio construction, the result might be similar to this book. </strong>Satchell and Scowcroft have prepared an edited collection of cutting-edge papers, but the audience is narrow  ... <a href="../titles/satchell_and_scowcroft.htm">Read more</a></td> </tr> </table> </td> </tr> </table> </div> <div align="center"> <table border="0" cellpadding="6" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table23"> <tr> <td valign="top" align="right" height="198" width="150"> <p align="left"> <map name="FPMap32"> <area href="../titles/wang_and_xia_(2002).htm" shape="rect" coords="0, 0, 128, 199"> </map> <img border="0" src="../images/book_wang_and_xia_(2002).gif" usemap="#FPMap32" width="129" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" width="100%" id="table24"> <tr> <td width="100%"> <p class="book_title">Portfolio Selection and Asset Pricing</td> </tr> <tr> <td width="102%" class="book_details_tags" valign="top" height="16" align="left"> <table border="0" cellpadding="2" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table25"> <tr> <td width="100%" colspan="5"> <p class="book_details">Shouyang Wang and Yusen Xia</td> </tr> <tr> <td width="50" class="book_details_tags"> <map name="FPMap31"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map><img border="0" src="../images/star_5.gif" usemap="#FPMap31" width="90" height="16"></td> <td width="25" class="book_details_tags"> <map name="FPMap30"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map><img border="0" src="../images/tech_4.gif" usemap="#FPMap30" width="90" height="16"></td> <td width="25" class="book_details_tags"> 2002</td> <td width="90%" class="book_details_tags" align="right" valign="top"> <p align="right"><map name="FPMap33"> <area target="_self" href="../titles/wang_and_xia_(2002).htm" shape="rect" coords="0, 0, 90, 25" > </map> <img border="0" src="../images/pointer_review.gif" usemap="#FPMap33" width="90" height="25" ></td> <td class="book_details_tags" align="right" valign="top"> <script language="JavaScript"> function popUp(URL,NAME) { amznwin=window.open(URL,NAME,'location=yes,scrollbars=yes,status=yes,toolbar=yes,resizable=yes,width=380,height=450,screenX=10,screenY=10,top=10,left=10'); amznwin.focus();} document.open(); document.write("<a href=javascript:popUp('http://buybox.amazon.com/exec/obidos/redirect?tag=contingencyanaly&link_code=xsc&creative=23424&camp=2025&path=/dt/assoc/tg/aa/xml/assoc/-/3540429158/contingencyanaly/ref=ac_bb1_,_amazon')><img border=0 src=../images/pointer_amazon.gif alt='Buy from Amazon.com' ></a>"); document.close(); </script> <noscript> <form method="POST" action="http://buybox.amazon.com/o/dt/assoc/handle-buy-box=3540429158"> <input type="hidden" name="asin.3540429158" value="1"> <input type="hidden" name="tag-value" value="contingencyanaly"> <input type="hidden" name="tag_value" value="contingencyanaly"> <input type="image" name="submit.add-to-cart" value="Buy from Amazon.com" border="0" src="src=images/pointer_amazon.gif"> </form></noscript> </td> </tr> </table> </td> </tr> <tr> <td class="book_details_tags" valign="top" align="left"> <p class="body">Since Markowitz's groundbreaking 1954 work in portfolio selection, the literature on portfolio theory has grown tremendously. Most familiar to practitioners is theoretical work related to capital asset pricing models. There has also been much effort devoted to making portfolio theory more practical ... <a href="../titles/wang_and_xia_(2002).htm">Read more</a></td> </tr> </table> </td> </tr> </table> </div> <div align="center"> <table border="0" cellpadding="6" cellspacing="0" height="206" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table26"> <tr> <td valign="top" align="right" height="198" width="150"> <p align="left"> <map name="FPMap341"> <area href="../titles/markowitz_h_(1959).htm" shape="rect" coords="0, 0, 131, 199"> </map> <img src="../images/book_markowitz.gif" alt="book_markowitz.gif (2308 bytes)" border="0" usemap="#FPMap341" width="132" height="200"></td> <td valign="top" align="left" height="198"> <table border="0" cellspacing="1" style="border-collapse: collapse" bordercolor="#111111" cellpadding="0" width="100%" id="table27"> <tr> <td width="100%"> <p class="book_title">Portfolio Selection</td> </tr> <tr> <td width="102%" class="book_details_tags" valign="top" height="16" align="left"> <table border="0" cellpadding="2" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table28"> <tr> <td width="100%" colspan="5"> <p class="book_details">Harry M. Markowitz</td> </tr> <tr> <td width="50" class="book_details_tags"> <map name="FPMap342"> <area href="../main/ratings.htm" shape="rect" coords="0, 2, 89, 15"> </map> <img border="0" src="../images/star_classic.gif" usemap="#FPMap342" width="90" height="16"></td> <td width="25" class="book_details_tags"> <map name="FPMap343"> <area href="../main/ratings.htm" shape="rect" coords="0, 0, 89, 15"> </map><img border="0" src="../images/tech_2.gif" usemap="#FPMap343" width="90" height="16"></td> <td width="25" class="book_details_tags"> 1959</td> <td width="90%" class="book_details_tags" align="right" valign="top"> <p align="right"><map name="FPMap344"> <area target="_self" href="../titles/markowitz_h_(1959).htm" shape="rect" coords="0, 0, 90, 25" > </map> <img border="0" src="../images/pointer_review.gif" usemap="#FPMap344" width="90" height="25" ></td> <td class="book_details_tags" align="right" valign="top"> <script language="JavaScript"> function popUp(URL,NAME) { amznwin=window.open(URL,NAME,'location=yes,scrollbars=yes,status=yes,toolbar=yes,resizable=yes,width=380,height=450,screenX=10,screenY=10,top=10,left=10'); amznwin.focus();} document.open(); document.write("<a href=javascript:popUp('http://buybox.amazon.com/exec/obidos/redirect?tag=contingencyanaly&link_code=xsc&creative=23424&camp=2025&path=/dt/assoc/tg/aa/xml/assoc/-/1557861080/contingencyanaly/ref=ac_bb1_,_amazon')><img border=0 src=../images/pointer_amazon.gif alt='Buy from Amazon.com' ></a>"); document.close(); </script> <noscript> <form method="POST" action="http://buybox.amazon.com/o/dt/assoc/handle-buy-box=1557861080"> <input type="hidden" name="asin.1557861080" value="1"> <input type="hidden" name="tag-value" value="contingencyanaly"> <input type="hidden" name="tag_value" value="contingencyanaly"> <input type="image" name="submit.add-to-cart" value="Buy from Amazon.com" border="0" src="src=images/pointer_amazon.gif"> </form></noscript> </td> </tr> </table> </td> </tr> <tr> <td class="book_details_tags" valign="top" align="left"> <p class="body">Harry Markowitz is the father of Portfolio Theory. In 1952, he published his groundbreaking thesis that investors should focus on selecting optimal portfolios as opposed to optimal assets. He expanded that work into a full length book that is <i>Portfolio Selection </i>... <a href="../titles/markowitz_h_(1959).htm">Read more</a></td> </tr> </table> </td> </tr> </table> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="468" id="table29"> <tr> <td> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td></tr> </table> </div> </td> <td bgcolor="#FFFFFF">  </td> </tr> </table> </div> <div align="center"> <center> <table border="0" cellpadding="10" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" id="table30"> <tr> <td width="50%" bgcolor="#FFFFCC" align="center" valign="top"> <script type="text/javascript"></script> <script type="text/javascript" src="http://pagead2.googlesyndication.com/pagead/show_ads.js"> </script> </td><td width="50%" bgcolor="#CCCCFF" align="center"> <div align="center"> <center> <table border="0" cellpadding="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" id="table31"> <tr> <td> <p class="body" style="margin-bottom: 6; margin-left:5; margin-top:5"><b> <font color="#333366" size="3">For related books, also see sections:</font></b></p> <p class="bullet_line_space" style="margin-left: 5"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/portfolio_management_general.htm">Portfolio Management - General</a></p> <p class="bullet_line_space" style="margin-left: 5"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/finance_general.htm">Finance - General</a></p> <p class="bullet_line_space" style="margin-left: 5"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/risk_management_market_risk.htm">Risk Management - Market Risk</a></p> <p class="bullet_line_space" style="margin-left: 5"> <img border="0" src="../images/bullet.gif" width="20" height="10"><a target="_top" href="../link_topic/math_financial_math.htm">Mathematics - Financial Math</a></p> </td> </tr> </table> </center> </div> </td> </tr> </table> <table border="0" cellspacing="0" style="border-collapse: collapse" bordercolor="#111111" width="100%" cellpadding="10" bgcolor="#FFFFCC" id="table32"> <tr> <td width="100%">  <table border="0" style="border-collapse: collapse" width="100%" cellpadding="0" id="table1" bgcolor="#FFFFFF"> <tr> <td colspan="2" height="12"> <p style="margin-top: 0"> </td> </tr> <tr> <td align="right"> <p align="left" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Ads by Contingency Analysis.</font></a></td> <td align="left"> <p align="right" style="margin-bottom: 2px"> <a target="_top" href="http://www.riskexpertise.com/link/advertising.htm"> <font size="1" color="#000000" face="Arial">Advertise on this site.</font></a></td> </tr> <tr> <td align="center" colspan="2">  <iframe src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=iframe" allowtransparency="true" background-color="transparent" style="margin: 0px; padding: 0px; border-width: 0px" width="300" height="250" frameborder="0" marginwidth="0" marginheight="0" scrolling="no"> <![if lt IE 4]> <script src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=js" type="text/javascript"> </script> <noscript> <a href="http://servedbyadbutler.com/go2/;ID=147917;size=300x250;setID=93136"> <img src="http://servedbyadbutler.com/adserve/;ID=147917;size=300x250;setID=93136;type=img" border="0" height="250" width="300" alt=""></a> </noscript><![endif]> </iframe>   </td> </tr> </table> <p align="center" style="margin-top: 20"> <map name="FPMap0_I1"> <area href="http://www.riskbook.com" shape="rect" coords="0, 0, 184, 29" target="_top"></map> <img border="0" src="../images/open_book_riskbook.gif" usemap="#FPMap0_I1" width="185" height="30"></p> <p class="a" align="center"><font face="Arial" size="2"><a href="../main/disclaimer.htm">disclaimer</a></font></p> <p class="a" align="center"><span class="verdana10">website:</span> <a target="_top" href="http://www.contingencyanalysis.com"> <font size="2" face="Arial">http://www.contingencyanalysis.com</font></a><br> <span class="verdana10">books direct link:</span> <a target="_top" href="http://www.riskbook.com"><font size="2" face="Arial">http://www.riskbook.com</font></a><br> copyright <font face="Times New Roman">©</font> Contingency Analysis, 1996 - current</p> <p class="a" align="center"><map name="FPMap1_I1"> <area target="_top" href="http://www.contingencyanalysis.com" shape="rect" coords="0, 0, 240, 88"> </map><img border="0" src="../images/logo_book_white.gif" usemap="#FPMap1_I1" width="241" height="89"></p> </td> </tr> </table> </center> </div> </body>