A Survey and Comparison of Portfolio Selection Models

This article will concern itself with the various techniques for selecting portfolios of securities. It should be made clear at the outset that a good portfolio is not just an amalgamation of a number of “good” stocks and bonds. Rather, it is an integrated whole, each security complementing the othe...

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Bibliographic Details
Published in:Journal of financial and quantitative analysis 1967-06, Vol.2 (2), p.85-106
Main Author: Wallingford, Buckner A.
Format: Article
Language:English
Subjects:
Covariance
Expected returns
Financial portfolios
Financial securities
Investors
Modeling
Mutual funds
Random variables
Security portfolios
Statistical variance
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Summary:This article will concern itself with the various techniques for selecting portfolios of securities. It should be made clear at the outset that a good portfolio is not just an amalgamation of a number of “good” stocks and bonds. Rather, it is an integrated whole, each security complementing the others. Thus, the investment manager must consider both the characteristics of the individual securities and the relationships between those securities. Until recently there was no comprehensive theoretical framework for the analysis of the latter aspect of the portfolio problem. Intuitive judgment and experience were the guidelines used by investment managers.
ISSN:0022-1090
1756-6916
DOI:10.2307/2329896