décembre 2009
Economie / Conseil
Nomination / Départ


Mensuel de décembre 2009 - Economie / Conseil

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How ‘Modern’ and how relevant is Markowitz ?
Fifty years ago this year, Harry Markowitz, inventor of ‘Modern Portfolio Theory’ published his first book describing the ‘Efficient Frontier’ – the point at which the investor is positioned to receive maximum reward for the risk he takes when investing. Since then, designing an efficient portfolio – consisting of a diverse mix of assets which can be bought and held for the long term with minimal readjustment – has become the ‘holy grail’ of the intelligent investor. But exactly how modern and relevant are Markowitz’ theories in this not-so-Brave new world of internet-enhanced trading and ever more complex investment products? We ask Sparinvest’s Sidsel Møller (picture), a portfolio optimization expert within the Group’s Asset Allocation Department. The Credit Crunch is now...
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