Stevenson, Bruce G. and Michael W. Fadil, "Modern Portfolio Theory: Can it Work for Commercial Loans?", Commercial Lending Review, Vol. 10, No. 2, (Spring 1995), pp. 4-12.
Introduction: Investment professionals have long used modern portfolio theory to reduce risk through diversification. In this article, Bruce G. Stevenson and Michael W. Fadil optimize an actual portfolio of 1,400 syndicated loans to show how MPT can work for commercial loans.