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When a “frothy market” feels chaotic and risky and makes you anxious, Markowitz told us what to do: diversify.

The economist Henry Markowitz famously called diversification the only "free lunch" in economics.

I'm here to tell you that having lunch at my mother's is exactly what Markowitz was talking about.

Markowitz and his co-author, Merton Miller, won the Nobel Prize for formalizing the intuition of my mother's kitchen with math: diversifying across assets, especially if they have nothing to do with each other, means you can have the same return while lowering your risk.

Rick Markowitz also told NBC Los Angeles that he ordered an Apple laptop for in-store pickup in Sherman Oaks but that someone else had shown a fake ID in order to pick up his order.