Obituary
Harry Markowitz, Father of Modern Portfolio Theory, Dies at 95
- Shared 1990 Nobel Prize in Economics for investment analysis
- He ‘dramatically changed the way nearly all wealth is managed’
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Harry Markowitz, a Nobel Prize-winning economist who redefined money management by showing that diversification could reduce investment risk while maximizing returns, has died. He was 95.
Markowitz died on June 22 of pneumonia and sepsis at a hospital in San Diego, the New York Times reported, citing Markowitz’s assistant, Mary McDonald.