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Harry M. Markowitz explains Portfolio Theory: what it is and how it's used from a top-down model from the asset classes to the investments. He covers Standard Deviation, Variance, Correlation, and Covariance. Markowitz also explains what happened in 2008 with Modern Portfolio Theory. (39 Min.)

Harry M. Markowitz - Portfolio Theory and 2008

Mark covers historic recovery patterns and probability of future returns, the risks and returns that come with big government, the role of commodities in your investments, the pros and cons of inflation-hedging securities, and an investment strategy that has been highly successful historically. (92 Min.)

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Harry Markowitz gives an IFA Exclusive Presentation on Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises. Markowitz explains the difference between Portfolio Theory and Financial Engineering. Markowitz also covers Black Monday (October 19, 1987), Long Term Capital Management, and Now. (47 Min.)

Harry Markowitz - Portfolio Theory Vs. Financial Engineering, and Their Roles in Financial Crises

The first step on the index funds journey is to recognize active investor behavior. If all investors were lined up in a row, could the active investors be identified? Active investors actively engage in stock picking, time picking (market timing), manager picking, and style picking.

Step 1: Active Investors - Podcast Interview with Mark Hebner

Mark Hebner explains the Nobel Laureates. Mark suggests a higher power of non-biased information from academics who carefully analyze data and have that data peer reviewed before it is published. Mark identifies the five basic concepts of the Modern Portfolio Theory.

Step 2: Nobel Laureates - Podcast Interview with Mark Hebner

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Will McClatchy
Will McClatchy

Panic sellers did not profit on Monday

Will McClatchy
Monday, September 17, 2001

After watching today's low closing prices, US equity investors who held onto stocks out of patriotism today might have felt a bit foolish. In reality they did just fine. Everyone in the US market got hit today, and selling on the morning the markets reopened was by no means an obvious out.

How so? Because the markets opened at a lower price. There were no bids at last Monday's closing price. Consider the SPDR (ticker:SPY) that tracks the S&P 500 index:

If you placed a market order thinking you would avoid the drubbing you were wrong. In fact you would have missed a small rally.

Similarly with the Nasdaq's QQQ:

 

Everyone opened at 31.25. The last trade was 31.20. That's about as sleepy a day as you are going to get with the Nasdaq.

The reality is that the terrorists have hit everyone economically, some more than others. But panic selling as usual did no good.


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