Ninth Grunberg Lecture - April 26, 1996

Professor Harry M. Markowitz
Distinguished Professor, Emeritus, Baruch College
and Research Professor
University of California, San Diego
Nobel Prize in Economics, 1990
"Data Mining And What To Do About It"

Professor Markowitz shared the Nobel Prize in 1990 with Professor Merton Miller (University of Chicago) and Professor William Sharpe (Stanford University). Their work is known individually as portfolio theory, capital asset pricing model, and Miller-Modigliani theorem; collectively their theories have provided new tools for weighing risks and rewards of different investments and for valuing corporate stocks and bonds.

Professor Markowitz has applied computer and mathematical techniques to practical decision making in finance. He received the Nobel Prize for his work on portfolio theory, a major technique for weighing the risks and rewards of holding different corporate stocks and bonds. His topic examines the problems of basing financial decisions for the future on past data and shows how better estimates can be made. Professor Markowitz's work is important to all those interested in financial decision making.

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