Alternative portfolio selection models and performances? analysis: İstanbul Stock Exchange implementations

Being a subjective issue, an investor?s preferential behavior regarding his/her choices between risks and returns, can be expounded and analyzed by expected utility theory. The more uncertainty on expected returns, the higher level of returns for investment will be for the investor, that is to say, an investor will accept a higher level of risk provided that high return rates are at stake for the investor in question.In tackling with the issue, modern portfolio theory has contributed new dimensions in regard to the notion of diversification. In such respect, the theory has been pillared by mean-variance model based on the principle of utility theory, with the assumption that an investor will maximize his/her utility at a determined risk level and the investor will realize an optimization based on that, being a relatively novel approach.In this regard, elaborating on the basic components and methodologies of mean-variance analyses pioneering new horizons and novel dimensions for the theory of finance, this study?s basic objective is to compare and clarify optimum portfolio performances as formed by Sharpe and Elton Gruber models, in addition to the Markowitz mean-variance model as alternatively developed to each other.In line with the stated objective, the work introduces fundamentals of portfolio management processes as an introduction, in lateral stages; it attempts to elucidate basic pillars of modern portfolio management by means of mean-variance analysis tools. The study, proceeding with elaborations on alternative models as subject of the research, shall finalize the work with elaborations on portfolio performance measurement criteria and findings of portfolio models? comparisons and contrasts with each other.