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Harry M. Markowitz

AKA Harold Maxwell Markowitz

Born: 24-Aug-1927
Birthplace: Chicago, IL

Gender: Male
Race or Ethnicity: White
Occupation: Economist
Party Affiliation: Republican

Nationality: United States
Executive summary: Portfolio theory

Harry M. Markowitz won the Nobel Prize in Economics in 1990, for his "portfolio theory". Devised in 1952, it provided the first systematic means of implementing a diversified investment strategy, showing that investors fare better and face less risk with a wide variety of stocks, bonds, and other assets. Milton Friedman was reportedly un-impressed, and according to Markowitz, Friedman said, "Harry, what's this? It's not mathematics; it's not economics; it's not finance."

Father: Morris Markowitz (owned a grocery store)
Mother: Mildred Markowitz

    High School: Schurz High School, Chicago, IL
    University: PhB, University of Chicago (1947)
    University: MA, University of Chicago (1950)
    University: PhD, University of Chicago (1954)
    Teacher: University of California at Los Angeles (1968-69)
    Professor: Finance, City University of New York (1983-94)
    Professor: Economics, University of California at San Diego (1994-)

    Nobel Prize for Economics 1990 (with Merton H. Miller and William F. Sharpe)
    CACI International Co-Founder (1962)
    IBM (1974-83)
    John McCain 2008
    Keyes 2000
    McCain-Palin Victory 2008
    RAND Corporation (1952-63)
    New Leadership for America PAC

Author of books:
The Simscript II Programming Language (1968, with P. J. Kiviat and R. Villanueva)
Efficient Diversification of Investments (1970)
Mean-Variance Analysis in Portfolio Choice and Capital Markets (1987)
The Theory and Practice of Investment Management (2002, with Frank J. Fabozzi)

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