Rady School Celebrates the 25th Anniversary of Harry Markowitz Receiving the Nobel Prize
On the evening of October 16, 2015, the Rady School of Management at UC San Diego celebrated the 25th anniversary of Harry M. Markowitz, Professor of Finance, receiving the Alfred Nobel Memorial Prize in Economic Science. Over 350 colleagues, friends, alumni and students were in attendance, many traveling from around the nation.
Speaking at the event to honor Markowitz were UC San Diego Chancellor Pradeep K. Khosla and Rady School Dean Robert S. Sullivan. Martin J. Gruber (New York University), Bruce I. Jacobs (Jacobs Levy Equity Management), Jack L. Rivkin (Altegris), Stephen M. Horan (CFA Institute), Gary Brinson (Brinson Partners) and Rob Arnott (Research Affiliates) also spoke. Markowitz’s Nobel Prize and other distinguished medals were on display at the event, which he has gifted to the Rady School.
“UC San Diego is honored that 16 Nobel Laureates have called our campus home, including Harry Markowitz,” stated UC San Diego Chancellor Pradeep K. Khosla. “Our students, faculty and staff benefit from Harry’s teaching, innovative thinking, and his career of contributions, as he helped transform the financial industry.”
Markowitz is one of the most influential economists of all time, with his groundbreaking Modern Portfolio Theory forever changing investment management. Markowitz also has made significant contributions to the creation of computer models for manufacturing and operations, and he developed techniques which are now standard in production software for optimization programs. In addition to receiving the 1990 Nobel Prize in Economics, he was awarded the John von Neumann Operations Theory Prize in 1989 and the Wharton-Jacobs Levy Prize for Quantitative Financial Innovation in 2013. These also are among the most prestigious awards in operations research and finance.
“For many years I was envious of my colleagues, like William Sharpe at Stanford or Paul Samuelson at MIT, who always had an academic institution which they could call home,” said Markowitz. “Today, I am proud to call the Rady School of Management at UC San Diego my home.”
In addition to his gifting of the Nobel Prize medal to the school, Markowitz also presented his John von Neumann award and his Wharton-Jacobs Levy prize medals to the Rady School.
“Harry Markowitz is an extraordinary innovator and academic,” said Rady School Dean Robert S. Sullivan. “We are fortunate to have him as part of our faculty. He brings his spirit to his teaching at the Rady School, where our graduate students learn portfolio theory from the man who originated it. He is a genuine treasure to our school and the university.”