Ideal portfolio: asset diversification is cheaper than you might think - Investors Chronical

A basic tenet of modern portfolio theory (MPT) is that logical investors want to achieve an ‘efficient portfolio’; where no other combination of available assets carries a higher expected return for the same degree of risk. Harry Markowitz, the founding father of MPT, described diversification as “the only free lunch in investing” while the right mix of assets can reduce a portfolio’s volatility and improve the chance of achieving target returns within a desired timeframe.

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