First edition, first printing. 8vo. x, [2], 344 pp. Original blue cloth, spine and front cover lettered in gilt, dust jacket (contents clean and unmarked; jacket unevenly toned with some minor shelf wear and creasing to extremities, an excellent copy). New York, John Wiley & Sons, Inc., Cowles Foundation for Research in Economics at Yale University, Monograph 16, 1959.
“Modern portfolio theory gives a rigorous mathematical justification for the time honoured 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 minimise risk” (Burton G. Malkiel).
Markowitz was awarded the 1990 Nobel Prize in Economic Sciences for his “pioneering work in the theory of financial economics” and “for having pioneering the theory of portfolio choice”.
