A hypothesis: Portfolio theory is elegant but useless

Original Articles

A hypothesis: Portfolio theory is elegant but useless

Published in: Investment Analysts Journal
Volume 13 , issue 24 , 1984 , pages: 17–21
DOI: 10.1080/10293523.1984.11082227
Author(s): P. A. Bowen
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Abstract

Portfolio theory is an elegant but useless creature with a prodigious appetite for data. It is the sterile offspring of an unlikely marriage of finance and mathematics.
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