How Did Markowitz's Portfolio Theory Change Portfolio Construction?

Markowitz worked out the two major imputs to what became modern portfolio theory correlation and the notion of mean variance optimization. In one afternoon, i think you recount this in the book,. markowitz had worked out theTwo major imputsto what became modernfolio theory correlation and the notion of an efficient frontier. Can you talk about how those discoveries changed portfolio construction, maybe by contrasting with how it had been done up to that point? Yes, this is really quite a stunning achievement, and it's one that most people aren't aware of, because they just take for granted that we now think about correlation, diversification and portfolio construction the way we've always done it.

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