"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; Inscribed by Him
MARKOWITZ, Harry M.
Item Number: 1292
New York: John Wiley & Sons, 1959.
First edition of the economist’s work, which revolutionized modern investment theory and practice. Octavo, original blue cloth. Presentation copy, inscribed by the author on the title page, “For Ken Best wishes Harry Markowitz.” Near fine in a very good dust jacket. Housed in a custom half morocco clamshell box.
"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).