4, pp. 155-173. Lintner, J., (1965) "The Valuation of Risk Assets and the Selection of Risky Investments in Stock Portfolios and Capital Budgets," Review of Economics and Statistics 47(1), pp. 13-37. 55 EFTA00617364 Markowitz, H., (1952) "Portfolio Selection," Journal of Finance 7(1), pp. 77-91. McDonald, J.G.