"A good portfolio is more than a long list of good stocks and bonds. It is a balanced whole, providing the investor with protections and opportunities with respect to a wide range of contingencies": Rare First Edition of Markowitzs Landmark Work Portfolio Selection
Markowitz, Harry M.$1,500.00
Item Number: 3900
New York: John Wiley & Sons, 1959.
First edition of the economist’s work, which revolutionized modern investment theory and practice. Octavo, original blue cloth. In near fine condition, lacking the rare dust jacket.
"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" (Burton G. Malkiel).