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Truth may be stretched, but cannot be broken, and always gets above falsehood, as does oil above water.
Harry Markowitz (1927- ) is a Nobel Prize winning economist who devised the modern portfolio theory, introduced to academic circles in his article, Portfolio Selection, which appeared in the Journal of Finance in 1952. Markowitz’s theories emphasized the importance of portfolios, risk, the correlations between securities, and diversification. His work, in collaboration with Merton H. Miller and William F. Sharpe, changed the way that people invested. These three intellectuals shared the 1990 Nobel Prize in Economics. Markowitz is currently a professor at the Rady School of Management of the University of California at San Diego.
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