Harry Markowitz Biography
Harry Markowitz is an American award-winning Economist, Educator, and Author who was born and brought up in Chicago, Illinois. He is widely known for winning the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences. He is also known for his pioneering work in modern portfolio theory, studying the effects of asset risk, return, correlation, and diversification on probable investment portfolio returns.
Currently, Harry works at the Rady School of Management at the University of California, San Diego (UCSD) as a Professor of Finance. He previously worked on the advisory board of ‘BPV Capital Management Company’ which was a firm dealing in hedge funds and was elected a fellow of the ‘Institute for Operations Research and Management Studies’.
10 Facts About Harry Markowitz
- Name: Harry Markowitz
- Age: 95 years old
- Birthday: 24 August
- Height: Average
- Weight: Moderate
- Nationality: American
- Occupation: Economist, Educator, and Author
- Marital Status: Married
- Salary: $24,292 and $72,507
- Networth: $1.5 million
Harry Markowitz Age
Markowitz is 95 years old as of 2022 he was born on 24 August 1927 in Chicago, Illinois, United States of America. He celebrates his birthday on the 24th of August every year, and his birth sign is Virgo.
Harry Markovitz Height
Harry stands at an average height. He appears to be quite tall in stature in his photos, relative to his surroundings, which are anything to go. However, details regarding his actual height and other body measurements are currently not publicly available. We will update this section when the information is available.
Harry Markowitz Education
Markowitz graduated from Carl Schurz High School. He then attended the Chicago School of Economics at the University of Chicago, graduating with a Bachelor of Philosophy (Ph.B.) in Liberal Arts. He also enrolled at the same University specializing in Economics, from where he graduated with a Ph.D. in Economics.
Harry Markowitz Family
Harry was born to Mildred and Morris Markowitz in Chicago. Our efforts to find out more about his family came to no avail as no such information is publicly available. Thus, t is also not known if he has any siblings. We will update this section once this information is available.
Harry Markowitz Wife
Markowitz is married to Barbara Markowitz. The couple has not shared any information about their children. However, they currently live in Chicago, Illinois.
Harry Markowitz Net Worth
Harry has an estimated net worth of $1.5 million dollars as of 2022. This includes his assets, money, and income. His primary source of income is his career as an Economist, Educator, and Author. Through his various sources of income, he has been able to accumulate good fortune, but prefers to lead a modest lifestyle.
Harry Markowitz Measurements and Facts
Here are some interesting facts and body measurements you should know about him;
Harry Markowitz Wiki
- Full Names: Harry Max Markowitz
- Popular As: Harry Markowitz
- Gender: Male
- Occupation / Profession: Economist, Educator, and Author
- Nationality: American
- Race / Ethnicity: White
- Religion: Jewish
- Sexual Orientation: Straight
Harry Markowitz Birthday
- Age / How Old?: 93 years (2020)
- Zodiac Sign: Virgo
- Date of Birth: 24 August 1927
- Place of Birth: Chicago, Illinois, United States of America
- Birthday: 24th August
Harry Markowitz Body Measurements
- Body Measurements: Not Available
- Height / How Tall?: Average
- Weight: Moderate
- Eye Color: Brown
- Hair Color: White
- Shoe Size: Not Available
Harry Markowitz Family and Relationship
- Father (Dad): Morris Markowitz
- Mother: Mildred Markowitz
- Siblings (Brothers and Sisters): Not Known
- Marital Status: Married
- Wife/Spouse: Married to Barbara Markowitz
- Children: Not Known
Harry Markowitz’s Net Worth and Salary
- Net Worth: $1.5 million dollars
- Salary: Under Review
- Source of Income: Economist, Educator, and Author
Harry Markowitz Nobel Prize
Harry was awarded the Nobel Memorial Prize in Economic Sciences in 1990, while he was a professor of finance at Baruch College of the City University of New York. The following year, he won the John von Neumann Theory Prize from the Operations Research Society of America (currently Institute for Operations Research and the Management Sciences, INFORMS) for his work upon contributing to the theory of three fields which include; portfolio theory; sparse matrix methods; and simulation language programming (SIMSCRIPT).
Harry Markowitz Modern Portfolio Theory and Portfolio Selection
Modern portfolio theory (MPT) is a theory on how risk-averse investors can construct portfolios to optimize or maximize expected return based on a given level of market risk, emphasizing that risk is an inherent part of higher reward. According to the theory, it’s possible to construct an “efficient frontier” of optimal portfolios offering the maximum possible expected return for a given level of risk.
This theory was pioneered by Harry Markowitz in his paper “Portfolio Selection,” published in 1952 by the Journal of Finance. He was later awarded a Nobel prize for developing the MPT. Modern portfolio theory argues that an investment’s risk and return characteristics should not be viewed alone, but should be evaluated by how the investment affects the overall portfolio’s risk and return.
MPT shows that an investor can construct a portfolio of multiple assets that will maximize returns for a given level of risk. Likewise, given the desired level of expected return, an investor can construct a portfolio with the lowest possible risk. Based on statistical measures such as variance and correlation, an individual investment’s return is less important than how the investment behaves in the context of the entire portfolio.
MPT makes the assumption that investors are risk-averse, meaning they prefer a less risky portfolio to a riskier one for a given level of return. This implies that an investor will take on more risk only if he or she is expecting more rewards. The portfolio’s risk is a complicated function of the variances of each asset and the correlations of each pair of assets.
To calculate the risk of a four-asset portfolio, an investor needs each of the four assets’ variances and six correlation values, since there are six possible two-asset combinations with four assets. Because of the asset correlations, the total portfolio risk, or standard deviation, is lower than what would be calculated by a weighted sum.
Frequently Asked Questions about Harry Markowitz
Harry Markowitz is an American award-winning Economist, Educator, and Author. He is widely known for winning the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences.
Harry is an American national born on he was born on 24 August 1927 in Chicago, Illinois, United States of America.
Price stands at a height of 5 feet 8 inches (1.73 meters).
Yes, Markowitz is married to his wife Barbara Markowitz. The couple has not shared any information about their children. However, they currently live in Chicago, Illinois.
Harry has an estimated net worth of $1.5 million dollars as of 2022. This includes his assets, money, and income
Because of personal reasons, Markdead has not shared his precise location of residence. We will update this information if we get the location and images of his/her house.
Markowitz is alive and in good health. There have been no reports of him being sick or having any health-related issues.
Harry Markowitz is aaward-winning Economist, Educator, and Author.
Harry Markowitz Contacts
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