Contributions to the Portfolio Theory

Megha Agarwal
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Megha Agarwal: University of Delhi

Chapter 3 in Developments in Mean-Variance Efficient Portfolio Selection, 2015, pp 56-70 from Palgrave Macmillan

Abstract: Abstract An optimal portfolio is more than a long list of good stocks and bonds; it is a balanced whole providing an investor with protections and opportunities with respect to a wide range of contingencies (Markowitz, 1959). The important criterion identified by the investors are high returns which are rather consistent that is, have less variability. Efficient portfolios are the ones yielding the highest returns for a given degree of risk or providing least risk for a given level of return. Mean-variance criterion provides an intuitive explanation for diversification. Investors would most often choose the portfolios which maximises their expected utility while taking into consideration any other constraints they might be facing.

Keywords: Portfolio Selection; Dividend Yield; Portfolio Theory; Portfolio Selection Model; Algorithmic Trading (search for similar items in EconPapers)
Date: 2015
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-137-35992-6_3

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DOI: 10.1057/9781137359926_3

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