Portfolio Selection

Full Name
Portfolio Selection: Efficient Diversification of Investments

Portfolio Selection is a classic book, representing the first major breakthrough in the field of modern financial theory. It applies modern techniques of analysis and computation to the problem of finding combinations of securities that best meet the needs of the private institutional investor. Portfolio Selection is written primarily with the nonmathematician in mind, although it contains mathematical development of the subject in appendixes.

Praise for Portfolio Selection

"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