Dr. Markowitz's groundbreaking work on diversified investment strategies helped open the era of mutual funds and money managers. : Harry Markowitz, a Nobel laureate economist who applied the adage “don’t put all your eggs in one basket” to the world of stock investing and risk, developing theories on diversified portfolios that inspired the growth of mutual funds and other market-hedge strategies, died June 22 at a hospital in San Diego. He was 95. His death was announced by the University of California at San Diego, where Dr. Markowitz was an adjunct professor of finance until his retirement in 2019.