Chap2 Theories of FPI - 副本.pptVIP

Chapter 2? FPI: Theories Learning Outcomes Knowing the Markowitz approach to portfolio selection. Knowing how to calculate the expected return and standard deviation of portfolio Knowing how to select the optimal portfolio. Knowing the CAPM model Understanding the implication the CML and the SML Knowing the Model of International CAPM 2.1 The Theory of Security Portfolio In 1952, Harry M. Markowitz published a landmark paper ——“Portfolio Selection”, that is generally viewed as the origin of the modern portfolio theory. Assume: an investor has a given sum of money A holding period for