Post-modern portfolio theory (or PMPT) is an extension of the traditional modern portfolio theory ("MPT", which is an application of mean-variance analysis or "MVA"). Both theories propose how rational investors should use diversification to optimize their portfolios, and how a risky asset should be priced.
Read more about Post-modern Portfolio Theory: History, Overview, The Tools of PMPT
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“Frankly, these days, without a theory to go with it, I cant see a painting.”
—Tom Wolfe (b. 1931)