Volume 23, No. 2, Second Quarter 2025
Special Issue: Honoring Harry M. Markowitz - JOIM Spring Conference / March 24 - 26, 2024
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Article
Remarks by Nobel Laureates: Robert Merton, William Sharpe; and Investment Management Practitioners
We were honored to have Nobel Laureates and investment management practitioners share their thoughts on the contributions and recollections of Harry M. Markowitz.
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Article
Have Capital Markets Forgotten about Sustainability?
Transcript of a talk presented at the Spring JOIM Conference honoring Harry M. Markowitz on March 24–26, 2024, at the Rady School of Management, UCSD.
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Article
Markowitz Wealth Management to Pension Plans: Augmenting the Funded Ratio with New Metrics
Transcript of a talk presented at the Spring JOIM Conference honoring Harry M. Markowitz on March 24–26, 2024, at the Rady School of Management, UCSD.
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Article
The Unreasonable Effectiveness of Portfolio Theory in Theory and Practice
As one of the founding fathers of modern finance, Harry M. Markowitz changed the way financial economists think about financial markets and institutions, and transformed the practice of finance from art to science. To honor his memory, I provide three specific examples of how portfolio theory played central roles in my own research, one involving the Adaptive Markets Hypothesis and two related to practical applications in biomedicine and fusion energy. These examples convinced me of the “unreasonable effectiveness” —to borrow a phrase from the great physicist Eugene Wigner — of portfolio theory in theory and practice.
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Article
Collaborating with Harry Markowitz: A Remembrance
Bruce Jacobs recounts his long professional and personal relationship with Harry Markowitz spanning more than 30 years in remarks delivered at the Spring 2024 JOIM Conference at the University of California, San Diego. Bruce and Harry shared similar interests and did complementary work. This led to collaboration, debate, and building upon each other’s ideas and research. Their work covered topics on portfolio insurance, portfolio theory, market simulation, and risks of portfolio leverage, and helped to bridge the gap between theory and practice.
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Article
Why Fusion and Why Now?
Transcript of a talk presented at the Spring JOIM Conference honoring Harry M. Markowitz on March 24–26, 2024, at the Rady School of Management, UCSD.
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Article
Why Genetic Medicines and Why Now?
Transcript of a talk presented at the Spring JOIM Conference honoring Harry M. Markowitz on March 24–26, 2024, at the Rady School of Management, UCSD.
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Book Review
On Progress and Prosperity: Essays 2019–2024
“Book Reviews” identifies important, and often popular, new books from a wide range of investment topics. Beyond providing a summary and review of the content and style of the books, “Book Reviews” seeks to contribute to a conscious, critical, and informed approach to investment literature.