Edwin J Elton, Martin J Gruber
ABSTRACT
Portfolio theory is a well-developed paradigm. There are excellent
textbooks on the subject. Of course, we are especially partial to our own
Modern Portfolio Theory and Investment Analysis. There are also
good reviews in more advanced doctoral-level texts such as Ingersoll (1987)
or Huang and Litzenberger (1988). Finally, good review articles such as
Constantinedes and Malliaris (1995) exist. Therefore, instead of writing
one more review article, we will be more selective and our discussion will
be rather eclectic. This paper will present four topics we find of particular
interest. Rather than attempting to survey all articles or all issues on
each topic, we will discuss what we find of special interest and importance.
We will attempt to convey wehere the field is today and where it is headed
in the future.
Elton: (212) 998-0361 eelton@stern.nyu.edu
Gruber: (212) 998-0333 mgruber@stern.nyu.edu
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