Modern Portfolio Theory, 1950 to Date

40 Pages Posted: 7 Nov 2008

See all articles by Edwin J. Elton

Edwin J. Elton

New York University (NYU) - Department of Finance

Martin J. Gruber

New York University (NYU) - Department of Finance

Multiple version iconThere are 2 versions of this paper

Date Written: February 1998

Abstract

Portfolio theory is a well-developed paradigm. There are excellent textbooks on the subject. Of course, we are especially partial to our own Modern Portfolio Theory and Investment Analysis. There are also good reviews in more advanced doctoral-level texts such as Ingersoll (1987) or Huang and Litzenberger (1988). Finally, good review articles such as Constantinedes and Malliaris (1995) exist. Therefore, instead of writing one more review article, we will be more selective and our discussion will be rather eclectic. This paper will present four topics we find of particular interest. Rather than attempting to survey all articles or all issues on each topic, we will discuss what we find of special interest and importance. We will attempt to convey wehere the field is today and where it is headed in the future.

Suggested Citation

Elton, Edwin J. and Gruber, Martin J., Modern Portfolio Theory, 1950 to Date (February 1998). NYU Working Paper No. FIN-98-026, Available at SSRN: https://ssrn.com/abstract=1297051

Edwin J. Elton (Contact Author)

New York University (NYU) - Department of Finance ( email )

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Martin J. Gruber

New York University (NYU) - Department of Finance ( email )

44 West 4th Street
Ste 9-190
New York, NY 10012-1126
United States
212-998-0333 (Phone)
212-995-4233 (Fax)

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