Portfolio Selection: Efficient Diversification of Investments (Cowles Foundation Monograph: No. 16)

""Cover"" ""CONTENTS"" ""PART I. INTRODUCTION AND ILLUSTRATIONS"" ""1. INTRODUCTION"" ""2. ILLUSTRATIVE PORTFOLIO ANALYSES"" ""PART II. RELATIONSHIPS BETWEEN SECURITIES AND PORTFOLIOS"" ""3. AVERAGES AND EXPECTED VALUES"" ""4. STANDARD DEVIATIONS AND VARIANCES"" ""5. INVESTMENT IN LARGE NUMBERS OF SECURITIES"" ""6. RETURN IN THE LONG RUN"" ""PART III. EFFICIENT PORTFOLIOS"" ""7. GEOMETRIC ANALYSIS OF EFFICIENT SETS"" ""8. DERIVATION OF E, V EFFICIENT PORTFOLIOS"" ""9. THE SEMI-VARIANCE"" ""PART IV. RATIONAL CHOICE UNDER UNCERTAINTY"" ""10. THE EXPECTED UTILITY MAXIM"" ""11. UTILITY ANALYSIS OVER TIME""""12. PROBABILITY BELIEFS"" ""13. APPLICATIONS TO PORTFOLIO SELECTION"" ""BIBLIOGRAPHY"" ""APPENDIX"" ""A. THE COMPUTATION OF EFFICIENT SETS"" ""B. A SIMPLEX METHOD FOR PORTFOLIO SELECTION"" ""C. ALTERNATIVE AXIOM SYSTEMS FOR EXPECTED UTILITY"" ""INDEX"" ""A"" ""B"" ""C"" ""D"" ""E"" ""F"" ""G"" ""H"" ""I"" ""J"" ""K"" ""L"" ""M"" ""N"" ""O"" ""P"" ""Q"" ""R"" ""S"" ""T"" ""U"" ""V"" ""W"" ""Z""

This is a classic book, representing the first major breakthrough in the field of modern financial theory. In effect, it created the mathematics of portfolio selection in a model which has turned out to be the indispensable building block from which the theory of the demand for risky securities is constructed. It also became an essential reference for individuals and financial institutions actually selecting optimal portfolios.

Long out of print and unavailable to numerous recent entrants to both financial theory and financial practice, this new edition leaves the existing text as it stands but adds substantial new material including a new bibliography and a fascinating biographical piece on the birth of the field of finance.

Applies modern techniques of analysis and computation to the problem of finding combinations of securities that best meet the needs of the private institutional investor. Written primarily with the nonmathematician in mind, although it contains mathematical development of the subject in appendixes.

Embracing finance, economics, operations research, and computers, this book applies modern techniques of analysis and computation to find combinations of securities that best meet the needs of private or institutional investors. this monograph is concerned with the analysis of portfolios containing large numbers of securities.