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MARKOWITZ AND A NEW THEORY OF INVESTING. MARKOWITZ, HARRY. 1927-2023. Portfolio Selection: Efficient Diversification of Investments. New York: John Wiley & Sons, 1959. (Cowles Foundation for Research in Economics at Yale University, Monograph 16). Publisher's light blue cloth, lettered in gilt, original light blue dust jacket, printed in black, minor fading to spine and outer margins, light chipping to spine ends and corners. Provenance: A. Hoggart(?) (ink inscription). WITH: Business Card Signed ('Harry Markowitz'), with a note 'Thanks for your interest. H.M.' Provenance: Hon. Stanley C. Wisniewski (pencil inscription). A FINE FIRST EDITION IN DUST JACKET OF HIS GAME-CHANGING THEORY OF INVESTING, with Markowitz's signed business card laid-in. Developed in 1952, and systematized with this book publication in 1959, Markowitz's mathematics-based system for diversifying an investment portfolio against uncertainty and risk has become largely standardized accross the investment industry. Fellow Nobelist Paul Samuelson reportedly observed, 'Wall Street stands on the shoulders of Harry Markowitz.' He was awarded the 1990 Nobel Prize for his work. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
ALL BIDDERS MUST AGREE THAT THEY HAVE READ AND UNDERSTOOD BONHAMS' CONDITIONS OF SALE AND AGREE TO BE BOUND BY THEM, AND AGREE TO PAY THE BUYER'S PREMIUM AND ANY OTHER CHARGES MENTIONED IN THE NOTICE TO BIDDERS. THIS AFFECTS THE BIDDERS LEGAL RIGHTS.
If you have any complaints or questions about the Conditions of Sale, please contact your nearest client services team.
For all Sales categories excluding Arms & Armour, Coins and Medals, Motor Cars, Motorcycles, Wine & Whisky
28% on the first $50,000 of the hammer price;
27% of the hammer price of amounts in excess of $50,000 up to and including $1,000,000;
21% of the hammer price of amounts in excess of $1,000,000 up to and including $6,000,000;
and 14.5% of the hammer price of any amounts in excess of $6,000,000.
A 3rd-party bidding platform fee (the "3rd-party bidding platform fee") equal to 4% of THE BID PRICE shall be payable by buyers whose successful bid is submitted via 3rd-party bidding platforms, including Invaluable; Live Auctioneers; The Saleroom; Lot-tissimo.
Payment for purchases may be made in or by (a) cash, (b) cashier's check or money order, (c) personal check with approved credit drawn on a U.S. bank, (d) wire transfer or other immediate bank transfer, or (e) Visa, MasterCard, American Express or Discover credit, charge or debit card for returning clients only. Please note that the amount of cash notes and cash equivalents that can be accepted from a given purchaser may be limited.
If you have requested a shipping quote, we will send this to you via email within 5 business days of the auction ending.
Please note our shipping quotes are bespoke and require special care and handling from our team and shippers. Shipping will be booked after payment is received. Please allow 7-14 business days from the time of booking for packing and dispatch, depending on your chosen shipping method. If your purchase is time sensitive, or you wish to explore other options, please see our list of alternative third party shippers in New York and Los Angeles who may be able to assist you.
Oversized Lots
Please note that all lots marked with a W in the catalog are oversized and subject to additional storage and shipping methods. All additional lots purchased with W lots are considered group lots and will be subject to the same terms as W lots.
W Lots will be transferred to offsite storage at DTD Fine Art Services at the buyer's risk and expense within five (5) business days following the auction. Please contact the Client Services team at bids.us@bonhams.com for the exact movement date.
The per-lot charges levied by DTD Fine Art Services are as follows (plus any applicable sales tax):
FURNITURE/LARGE OBJECTS
Transfer .................. $75
Daily storage........... $10
Insurance (on Hammer + Premium + tax) 0.3%
SMALL OBJECTS
Transfer ................. $37.50
Daily storage........... $5
Insurance (on Hammer + Premium + tax) 0.3%
Please note property is also subject to a Cross Dock Release Fee ($25 for Smalls and $45 for Furniture and Large Objects) & if charges are paid with a credit card, Door to Door Fine Art Services will charge a 3% Convenience Fee.
If you have any questions, please contact our Client Services team.
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MARKOWITZ AND A NEW THEORY OF INVESTING. MARKOWITZ, HARRY. 1927-2023. Portfolio Selection: Efficient Diversification of Investments. New York: John Wiley & Sons, 1959. (Cowles Foundation for Research in Economics at Yale University, Monograph 16). Publisher's light blue cloth, lettered in gilt, original light blue dust jacket, printed in black, minor fading to spine and outer margins, light chipping to spine ends and corners. Provenance: A. Hoggart(?) (ink inscription). WITH: Business Card Signed ('Harry Markowitz'), with a note 'Thanks for your interest. H.M.' Provenance: Hon. Stanley C. Wisniewski (pencil inscription). A FINE FIRST EDITION IN DUST JACKET OF HIS GAME-CHANGING THEORY OF INVESTING, with Markowitz's signed business card laid-in. Developed in 1952, and systematized with this book publication in 1959, Markowitz's mathematics-based system for diversifying an investment portfolio against uncertainty and risk has become largely standardized accross the investment industry. Fellow Nobelist Paul Samuelson reportedly observed, 'Wall Street stands on the shoulders of Harry Markowitz.' He was awarded the 1990 Nobel Prize for his work. For further information on this lot please visit Bonhams.com For further information about this lot please visit the lot listing
ALL BIDDERS MUST AGREE THAT THEY HAVE READ AND UNDERSTOOD BONHAMS' CONDITIONS OF SALE AND AGREE TO BE BOUND BY THEM, AND AGREE TO PAY THE BUYER'S PREMIUM AND ANY OTHER CHARGES MENTIONED IN THE NOTICE TO BIDDERS. THIS AFFECTS THE BIDDERS LEGAL RIGHTS.
If you have any complaints or questions about the Conditions of Sale, please contact your nearest client services team.
For all Sales categories excluding Arms & Armour, Coins and Medals, Motor Cars, Motorcycles, Wine & Whisky
28% on the first $50,000 of the hammer price;
27% of the hammer price of amounts in excess of $50,000 up to and including $1,000,000;
21% of the hammer price of amounts in excess of $1,000,000 up to and including $6,000,000;
and 14.5% of the hammer price of any amounts in excess of $6,000,000.
A 3rd-party bidding platform fee (the "3rd-party bidding platform fee") equal to 4% of THE BID PRICE shall be payable by buyers whose successful bid is submitted via 3rd-party bidding platforms, including Invaluable; Live Auctioneers; The Saleroom; Lot-tissimo.
Payment for purchases may be made in or by (a) cash, (b) cashier's check or money order, (c) personal check with approved credit drawn on a U.S. bank, (d) wire transfer or other immediate bank transfer, or (e) Visa, MasterCard, American Express or Discover credit, charge or debit card for returning clients only. Please note that the amount of cash notes and cash equivalents that can be accepted from a given purchaser may be limited.
If you have requested a shipping quote, we will send this to you via email within 5 business days of the auction ending.
Please note our shipping quotes are bespoke and require special care and handling from our team and shippers. Shipping will be booked after payment is received. Please allow 7-14 business days from the time of booking for packing and dispatch, depending on your chosen shipping method. If your purchase is time sensitive, or you wish to explore other options, please see our list of alternative third party shippers in New York and Los Angeles who may be able to assist you.
Oversized Lots
Please note that all lots marked with a W in the catalog are oversized and subject to additional storage and shipping methods. All additional lots purchased with W lots are considered group lots and will be subject to the same terms as W lots.
W Lots will be transferred to offsite storage at DTD Fine Art Services at the buyer's risk and expense within five (5) business days following the auction. Please contact the Client Services team at bids.us@bonhams.com for the exact movement date.
The per-lot charges levied by DTD Fine Art Services are as follows (plus any applicable sales tax):
FURNITURE/LARGE OBJECTS
Transfer .................. $75
Daily storage........... $10
Insurance (on Hammer + Premium + tax) 0.3%
SMALL OBJECTS
Transfer ................. $37.50
Daily storage........... $5
Insurance (on Hammer + Premium + tax) 0.3%
Please note property is also subject to a Cross Dock Release Fee ($25 for Smalls and $45 for Furniture and Large Objects) & if charges are paid with a credit card, Door to Door Fine Art Services will charge a 3% Convenience Fee.
If you have any questions, please contact our Client Services team.
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