Nobel Laureate Economist. He was best known for sharing the 1990 Nobel Prize for Economics with fellow economists Merton H. Miller and William F. Sharpe for their theories on evaluating stock-market risk and reward and on valuing corporate stocks and bonds. is studied at the University of Chicago and earned his Ph.B in 1947, M.A in 1950, and his Ph.D. in 1954. He later went to work on the research staff of the RAND Corporation in Santa Monica, California from 1952 to 1960 and 1961 to 1963, where he met Sharpe. He later held various positions with Consolidated Analysis Centers, Inc. (1963–68), the University of California, Los Angeles (1968–69), Arbitrage Management Company, (1969–72), and IBM's T.J. Watson Research Center (1974–83) before becoming a professor of finance at Baruch College of the City University of New York. In 1994, he became a research professor of economics at the University of California, San Diego. The research that later earned him the Nobel Prize in 1990, involved his "portfolio theory," which sought to prove that a diversified, or "optimal," portfolio—that is, one that mixes assets so as to maximize return and minimize risk—could be practical. His techniques for measuring the level of risk associated with various assets and his methods for mixing assets became routine investment procedures. He also developed a computer language called Simscript during his career, which was later used to write economic-analysis programs.
Nobel Laureate Economist. He was best known for sharing the 1990 Nobel Prize for Economics with fellow economists Merton H. Miller and William F. Sharpe for their theories on evaluating stock-market risk and reward and on valuing corporate stocks and bonds. is studied at the University of Chicago and earned his Ph.B in 1947, M.A in 1950, and his Ph.D. in 1954. He later went to work on the research staff of the RAND Corporation in Santa Monica, California from 1952 to 1960 and 1961 to 1963, where he met Sharpe. He later held various positions with Consolidated Analysis Centers, Inc. (1963–68), the University of California, Los Angeles (1968–69), Arbitrage Management Company, (1969–72), and IBM's T.J. Watson Research Center (1974–83) before becoming a professor of finance at Baruch College of the City University of New York. In 1994, he became a research professor of economics at the University of California, San Diego. The research that later earned him the Nobel Prize in 1990, involved his "portfolio theory," which sought to prove that a diversified, or "optimal," portfolio—that is, one that mixes assets so as to maximize return and minimize risk—could be practical. His techniques for measuring the level of risk associated with various assets and his methods for mixing assets became routine investment procedures. He also developed a computer language called Simscript during his career, which was later used to write economic-analysis programs.
Bio by: Mr. Badger Hawkeye
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