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HARRY MARKOWITZ
 Dr. Markowitz has applied computer and mathematical techniques to various practical
decision-making areas. In finance: in an article in 1952 and a book in
1959 he presented what is now referred to as MPT, “modern portfolio theory.” This
has become a standard topic in college courses and texts on investments, and
is widely used by institutional investors for asset allocation, risk control,
and attribution analysis. In other areas: Dr. Markowitz developed “sparse
matrix” techniques for solving very large mathematical optimization problems. These
techniques are now standard in production software for optimization programs. Dr.
Markowitz also designed and supervised the development of the SIMSCRIPT programming
language. SIMSCRIPT has been widely used for programming computer simulations
of systems like factories, transportation systems and communication networks.
In 1989 Dr. Markowitz received The John von Neumann Award from the Operations
Research Society of America for his work in portfolio theory, sparse matrix techniques,
and SIMSCRIPT. In 1990 he shared The Nobel Prize in Economics for his work
on portfolio theory.
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Keith
Ambachtsheer
Peter Bernstein
Burton Malkiel
Harry Markowitz
Jack Treynor
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