ANALISIS PORTOFOLIO OPTIMAL MENGGUNAKAN METODE MARKOWITZ PADA PERUSAHAAN FARMASI

Abstract

The purpose of this research is to find out how to form optimal stock combination found in stock efficiently by using portfolio analysis of Markowitz. The research sample consists of pharmacy companies which listed on the Indonesia Stock Exchange (BEI). The results of research from 5 stocks combined into 10 portfolios. With the same proportion (50%:50%) there are 3 efficient portfolios of portfolio 9, portfolio 2 and portfolio 4. While with different proportions (60%:40%) there are 3 efficient portfolios: portfolio 9, portfolio 2 and portfolio. Election an efficient portfolio based on investor preferences: (1) Investors who like to risk, so investors choose portfolio 9. Which is has same proportion (50%:50%) and with different proportions (60%:40%), (2) Investors who neutral to risk, so investors choose portfolio 2. Which is has same proportion (50%:50%) and with different proportions (60%:40%), (3) Investors who do not like the risk, then the investor choose portfolio 4. Where with the same proportion (50%:50%) and with different proportions (60%:40%).
Keywords: Markowitz’s model, investment , stock