This past week we learned of the passing of Harry Markowitz. While Harry's was not a name known to everyday Americans, he was a legend in the world of Finance. In fact, when we started this blog in 2016, I dedicated my first entry to Harry and the influence he had on the world of finance. To take a trip down memory lane click here to read that first blog post Meet Harry Markowitz.
For those that have visited our Hamilton, NJ office you have seen Harry Markowitz's photo on the wall. When a prospective client tells me their neighbor's, son's dog walker suggests they place all their retirement money in one can't miss stock, I look at the photo and consider, "What would Harry think?" I then share with the individual the power of a diversified portfolio and the benefits of evidence based financial investing. The latest fad has nothing on the Nobel Prize winning Modern Portfolio Theory built on the relationship of risk and reward.
Harry, and his wisdom, will certainly be missed. You can also read Harry's obituary from the Sunday NY Times here NY Times Obituary