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Portfolio Separation Theorem |
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Portfolio separation theorem Theory that an investor's choice of a risky investment portfolio is separate from his attitude towards risk. Related: Fisher's separation theorem. Portfolio Separation Theorem An economic theory stating that the investment decisions of a firm are independent from the firm's owner's wishes. The Portfolio Separation Theorem states that the productive value of a firm's management neither affects nor is affected by the owner's business decisions. As a result, the performance of a firm's investments has no relation to how they are financed, whether by stock, debt, or cash. The theorem was devised by economist Irving Fisher. See also: Irrelevance result. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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