Modern Portfolio Theory was born in the mind of Dr. Harry Markowitz while he waited to see his thesis advisor; it won him a Nobel Prize. Since then, the idea of balancing risk and return has become fundamental to investment analysis. Now a new Web site,, will be sowing the same seeds in the minds of any investor who can operate a web browser. The service is free.

Launched by Infinity Financial Technology in partnership with IBM, Dow Jones and FAME Information Services, will allow investors to manage their own portfolios much as professional fund managers do. Among its capabilities, it can measure portfolio risk; identify the source of greatest volatility; optimize portfolio performance; apply a Value-at-Risk analysisoallowing measurement of how much one is likely to lose in the future on the portfolio or a stock; analyze individual stocks; identify portfolio correlations; and create individual portfolio benchmarks that can be compared with the overall market's alphas and betas. Analysis can be measured daily. All in all, it's a professional tool for portfolio monitoring and analysis.

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