OPTIMIZING RETURNS IN A CHALLENGING MARKET: AN APPLICATION OF THE MEAN-VARIANCE MODEL ON THE INDONESIAN LQ45 INDEX
The rapid growth of retail investors in Indonesia, from 2.48 million in 2019 to over 20 million by 2025, underscores an urgent need for empirically grounded portfolio optimization frameworks adoptable into practical tools such as robo-advisory systems. This study applies the Markowitz Mean-Variance model to construct a...