Quotes by Harry Markowitz - Page 1

Becoming an economist was not a childhood dream of mine.
Harry Markowitz / Economist
Economist
Childhood Dream
Copy Quote
I would never be 100 percent in stocks or 100 percent in bonds or cash.
Harry Markowitz / Economist
Cash
Percent
Bonds
Stocks
Copy Quote
We next consider the rule that the investor does or should consider expected return a desirable thing and variance of return an undesirable thing.
Harry Markowitz / Economist
Doe
Investing
Next
Copy Quote
Portfolio theory, as used by most financial planners, recommends that you diversify with a balance of stocks and bonds and cash that's suitable to your risk tolerance.
Harry Markowitz / Economist
Balance
Cash
Financial
Planners
Risk
Suitable
Theory
Tolerance
Bonds
Portfolio
Diversify
Stocks
Copy Quote
Diversifying sufficiently among uncorrelated risks can reduce portfolio risk toward zero. But financial engineers should know that's not true of a portfolio of correlated risks.
Harry Markowitz / Economist
Zero
Engineers
Financial
Risk
Among
Portfolio
Reduce
Sufficiently
Toward
Copy Quote
It's like a crapshoot in Las Vegas, except in Las Vegas the odds are with the house. As for the market, the odds are with you, because on average over the long run, the market has paid off.
Harry Markowitz / Economist
Running
Las Vegas
Odds
Copy Quote
The chief problem with the individual investor: He or she typically buys when the market is high and thinks it's going to go up, and sells when the market is low and thinks it's going to go down.
Harry Markowitz / Economist
Sells
Buys
Chief
He Or She
Investor
Copy Quote
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.
Harry Markowitz / Economist
Opportunity
Business
Long
Copy Quote
I was born in Chicago in 1927, the only child of Morris and Mildred Markowitz, who owned a small grocery store. We lived in a nice apartment, always had enough to eat, and I had my own room. I never was aware of the Great Depression.
Harry Markowitz / Economist
Depression
Apartment
Chicago
Great Depression
Had Enough
Morris
Only Child
Great Always Enough
Aware
Great Enough Always
Grocery
Grocery Store
Owned
Store
Copy Quote
To reduce risk it is necessary to avoid a portfolio whose securities are all highly correlated with each other. One hundred securities whose returns rise and fall in near unison afford little protection than the uncertain return of a single security.
Harry Markowitz / Economist
Fall
Return
Risk
Copy Quote
In 1989, I was awarded the Von Neumann Prize in Operations Research Theory by the Operations Research Society of America and The Institute of Management Sciences. They cited my works in the areas of portfolio theory, sparse matrix techniques and the SIMSCRIPT programming language.
Harry Markowitz / Economist
Institute
Management
Operations
Prize
Programming
Research
Theory
Awarded
Portfolio
Cited
Matrix
Programming Language
Sciences
Techniques
Von
Copy Quote
In choosing a portfolio, investors should seek broad diversification, Further, they should understand that equities--and corporate bonds also--involve risk; that markets inevitably fluctuate; and their portfolio should be such that they are willing to ride out the bad as well as the good times.
Harry Markowitz / Economist
Good Times
Portfolios
Risk
Copy Quote
During the 1950s, I decided, as did many others, that many practical problems were beyond analytic solution and that simulation techniques were required. At RAND, I participated in the building of large logistics simulation models; at General Electric, I helped build models of manufacturing plants.
Harry Markowitz / Economist
Electric
Logistics
Manufacturing
Models
Simulation
Analytic
Plants
Practical
Rand
Required
Solution
Techniques
Copy Quote
If the investor doesn't have enough time and skill to investigate individual stocks or enough money to diversify a portfolio, the right thing to do is to invest in exchange-traded funds that give you exposure to asset classes. It does make sense for the individual investor to think in terms of holding individual asset classes.
Harry Markowitz / Economist
Exposure
Right Thing
Time Money Enough
Asset
Portfolio
Classes
Invest
Diversify
Enough Money
Funds
Holding
Investor
Skill
Stocks
The Right Thing
Copy Quote
Perhaps the most important job of a financial advisor is to get their clients in the right place on the efficient frontier in their portfolios. But their No. 2 job, a very close second, is to create portfolios that their clients are comfortable with. Advisors can create the best portfolios in the world, but they won't really matter if the clients don't stay in them.
Harry Markowitz / Economist
Jobs
Important
Matter
Copy Quote

Related Economist Authors

Thomas Sowell
Economist
Monday, Jun 30, 1930
William Stanley Jevons
Economist
Tuesday, Sep 01, 1835
Sunday, Aug 13, 1882
William Petty
Economist
Friday, May 26, 1623
Tuesday, Dec 16, 1687
William Forsyth Sharpe
Economist
Saturday, Jun 16, 1934
William Easterly
Economist
Saturday, Sep 07, 1957
William Beveridge
Economist
Wednesday, Mar 05, 1879
Saturday, Mar 16, 1963
William A. Niskanen
Economist
Monday, Mar 13, 1933
Wednesday, Oct 26, 2011
Willem Buiter
Economist
Monday, Sep 26, 1949
Will Hutton
Economist
Sunday, May 21, 1950
Werner Sombart
Economist
Monday, Jan 19, 1863
Sunday, May 18, 1941
Wassily Leontief
Economist
Sunday, Aug 05, 1906
Friday, Feb 05, 1999
Wang Anshi
Economist
Saturday, Dec 08, 1021
Friday, May 21, 1086
Walter Heller
Economist
Friday, Aug 27, 1915
Monday, Jun 15, 1987
Walter E. Williams
Economist
Tuesday, Jun 30, 1936
Walter Block
Economist
Thursday, Aug 21, 1941

View All Economist Quotes

Top Authors

Socrates
Philosopher
Thursday, Jan 01, 1970
Thursday, Jan 01, 1970
Robin Williams
Actor
Saturday, Jul 21, 1951
Monday, Aug 11, 2014
Niccolo Machiavelli
Historian
Monday, May 03, 1469
Tuesday, Jun 21, 1527
John Lewis
U.s. Representative
Wednesday, Feb 21, 1940
Pope John Paul Ii
Priest
Tuesday, May 18, 1920
Saturday, Apr 02, 2005
Oscar Wilde
Writer
Monday, Oct 16, 1854
Friday, Nov 30, 1900
John Locke
Philosopher
Sunday, Aug 29, 1632
Tuesday, Oct 28, 1704
Mother Teresa
Saint
Friday, Aug 26, 1910
Friday, Sep 05, 1997
Thomas Sowell
Economist
Monday, Jun 30, 1930
Rodney Dangerfield
Comedian
Tuesday, Nov 22, 1921
Tuesday, Oct 05, 2004
Epictetus
Philosopher
George Carlin
Comedian
Wednesday, May 12, 1937
Sunday, Jun 22, 2008
Pope Francis
Thursday, Dec 17, 1936
Steven Wright
Comedian
Tuesday, Dec 06, 1955
Nelson Mandela
Former President Of South Africa
Thursday, Jul 18, 1918
Thursday, Dec 05, 2013

View All Authors

Harry Markowitz Quotes - Page 1

App & Tools

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page

Stay Connected

App & Tools

Related Economist Authors

Popular Topic Tags

Top Authors

Share This Page