Evolution of modern portfolio theory - part II

Author: Angel Marchev, Jr. (Department ofManagement, University for national and world economy)

Keywords: Markovitz model, Single index model, Multifactor models, Tobin’s Theorem, Capital asset pricing model, zero beta model, arbitrage pricing theory

The modern portfolio theory deservingly is acknowledged as one ofthe blghest achievements in financial science. Many researchers have helped its fast development, enrichment and complication. At the same time the theory presents opportunities for many new scientific achievements. The chronological theoretical review ofall its essential theoretical models is continued in the paper.

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