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Sofia Yang

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Review Open access Aug 2026

The Evolution of Portfolio Theory Under Risk & Uncertainty: From Mean–Variance to AI‐Augmented Investing

This article summarizes the evolution of portfolio theory from mean–variance optimization to AI‐augmented investment systems. Rather than treating portfolio models as isolated techniques, it organizes the literature as a sequence of responses to different forms of uncertainty: variance, systematic risk, expected‐retu...

Xuan Feng, Sofia Yang · 0 citations

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