Journal of Financial and Quantitative Analysis Vol. 2 No. 1 1967
General Proof that Diversification Pays
Abstract
“Don't put all your eggs in one basket, ” is a familiar adage. Economists, such as Marschak, Markowitz, and Tobin, who work only with mean income and its variance, can give specific content to this rule—namely, putting a fixed total of wealth equally into independently, identically distributed investments will leave the mean gain unchanged and will minimize the variance.
- DOI
- 10.2307/2329779
- Volume
- 2
- Issue
- 1
- Pages
- 1
- Sources
- openalex crossref