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Archive » July / August 2023 » Harry Markowitz: the father of portfolio theory and grandfather of behavioral finance

Harry Markowitz: the father of portfolio theory and grandfather of behavioral finance

Ugo Pomante
July / August 2023 - n. 7-8
Keywords: Harry Markowitz, Storia economica, Teoria di portafoglio
Jel codes: B20, G11

On June 22, 2023, Harry Markowitz passed away. Markowitz, more than anyone else, has contributed to elevating portfolio theory to the status of a science, thus dignifying the role of all those involved in portfolio construction. Markowitz also made a significant contribution to the birth of behavioral finance. From reading his works, a valuable lesson can be learned: even the most complex concept can be made accessible, as long as there is a strong desire to reach as wide an audience as possible. In the article «Portfolio Selection», Markowitz wrote: «It is a story of which I have read only the first page of the first chapter»; however, he forgot to say that this is his Great Story.

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