Author(s)

Lejia Zhang

Corresponding Author

Lejia Zhang

ABSTRACT

Portfolio theory has been born for half a century, but the research on it still emerges in endlessly. In recent years, with the requirements of investment practice and the development of mathematics and computing technology, portfolio theory has also appeared some new branches and development trends. This paper reviews the recent progress of portfolio theory in the past ten years, which can be divided into six categories: behavioral portfolio theory, non-utility portfolio theory, style portfolio theory, portfolio theory with liquidity, portfolio theory with continuous long-term and VaR portfolio theory. And elaborated their main contents, finally, briefly commented on these theories.

KEYWORDS

Liquidity, Value at Risk, Behavioral Portfolio, Non-Utility