Harry Markowitz Quotes

#1. The nature of risk may be the single most important argument for the use of quantitative analysis in investment management. Neither Investors nor Analysts can be blamed for this fact. Nor can Harry Markowitz. Nature made risk a quadratic function. Markowitz only discovered it.

William Sharpe

#2. 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

#3. 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

#4. 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

#5. 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

#6. There was a certain graceful ease and freedom about all he said and did, that gave a sense of repose and expansion to the mind, after so much constraint and formality as I had been doomed to suffer.

Anne Bronte

#7. 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

#8. It is the business of the artist to make humanity aware of itself.

Ezra Pound

#9. When wealth is lost, little is lost. When health is lost, something is lost, but when character is lost ALL is lost!

Cheyenne Mitchell

#10. Silently repeat to yourself: I forgive myself for any ways in which I knowingly or unknowingly caused hurt or harm to any living being or creature. I forgive all who have ever hurt or harmed me. Everything between us is now cleared up.

Michael Beckwith

#11. 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

#12. Becoming an economist was not a childhood dream of mine.

Harry Markowitz

#13. 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

#14. 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

#15. 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

#16. 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

#17. Besides it's better to have Miyoshi around. You and me have a been together since Jr. High. Without her around people might think we're gay.

Tsugumi Ohba

#18. I would never be 100 percent in stocks or 100 percent in bonds or cash.

Harry Markowitz

#19. 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

#20. Man United have shops all round the world. It's a big money spinner plus the fact that they change their strip every five minutes.

Jack Charlton

#21. Standard issue helmets are designed to filter out smoke, not toxins.

Alan Dean Foster