Portfolio Selection.. This item is unavailable.Portfolio Selection.

First edition of the economist's work, which revolutionized modern investment theory and practice. Octavo, original blue cloth. Presentation copy, inscribed by the author on the half-title page, "For William Best Wishes Harry Markowitz." Near fine in a near fine dust jacket. Housed in a custom half morocco clamshell box made by the Harcourt Bindery. "Modern portfolio theory gives a rigorous mathematical justification for the time honored investment maxim that diversification is a sensible strategy for individuals who wish to reduce their risks. Invented in the 1950s by Harry Markowitz in this book, the theory provides a firm foundation for the intuition that you should not put all your eggs in one basket and shows investors how to combine securities to minimize risk" (Burton G. Malkiel).