The Markowitz mean-variance portfolio model presented in the text is a convex optimization problem.

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The Markowitz mean-variance portfolio model is a convex optimization problem because the objective function (minimizing portfolio variance while achieving a target expected return) and the constraints (weights summing up to 1 and individual weight limits) are all convex. Convex optimization problems have a unique global minimum, which ensures the optimality of the Markowitz model.

The Markowitz Mean-Variance Portfolio Model Presented in the Text Is