Markowitz assumed that, given an expected return, investors prefer to minimize risk.

Name: Markowitz assumed that, given an expected return, investors prefer to minimize risk.
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This is known as the modern portfolio theory and Markowitz's Nobel Prize-winning contribution to finance. It assumes that investors are risk-averse and seek to maximize returns for a given level of risk or minimize risk for a given level of return.

Markowitz Assumed That, Given an Expected Return, Investors Prefer to Minimize