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My guest today is Harry Markowitz,\xa0the third Nobel Prize winner to appear on this podcast. Markowitz is an American economist who received the 1989 John von Neumann Theory Prize and the 1990 Nobel Memorial Prize in Economic Sciences. Markowitz is a professor of finance at the Rady School of Management at the University of California, San Diego.

The topic is modern finance.

In this episode of Trend Following Radio we discuss:

• Justin Fox and \u201cThe Myth Of The Rational Market\u201d
• Markowitz\u2019s beginnings, and the Nobel Prize
• Markowitz\u2019s 1952 paper
• How Markowitz felt about some of his prescriptions and ideas being interpreted into dogma
• Why Wall Street was not interested in Markowitz\u2019s theories at one time
• Diversification for the right reason
• Markowitz\u2019s new four-volume book
• Advice on maintaining mental acuity at an advanced age and sounding like you\u2019re 35 when you\u2019re 86 years young
• Markowitz\u2019s attraction to the philosopher Hume
• If it was fifty years later, if Markowitz would be a quant running a hedge fund today
• Markowitz\u2019s legacy
• On being comfortable vs. being rich
• The leveraged long-only hedge fund industry and being coaxed into putting your money into these institutions
• Long Term Capital Management and portfolio theory

Jump in!

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I\u2019m MICHAEL COVEL, the host of TREND FOLLOWING RADIO, and I\u2019m proud to have delivered 10+ million podcast listens since 2012. Investments, economics, psychology, politics, decision-making, human behavior, entrepreneurship and trend following are all passionately explored and debated on my show.

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