| 单词 | portfolio theory |
| 释义 | portfolio theory portfolio theory A theoretical approach to investment choices based on the assumption that for any given expected return, rational investors will seek to minimize their risk and that for any given level of risk they will seek to maximize their return. On this basis a set of efficient portfolios can be calculated from which the investor will choose the one most appropriate for their risk profile. The practical conclusions of the theory are that investors should diversify widely and hold a mixture of long and short positions to minimize systematic risk. Portfolio theory was influential in the 1960s and 1970s but many of its assumptions have since been questioned by behavioural finance. See alsoMarkowitz model; portfolio insurance. |
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