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James Tobin

Age: 84

Nobel Prize–winning economist and Yale professor who was an influential adviser to President Kennedy, serving on his Council of Economic Advisers. Tobin won the 1981 Nobel for his Portfolio Selection Theory, which suggested that investors considered the risk factor when investing and varied the amount of risk. He once translated the theory in layman's terms: “Don't put your eggs in one basket.”

Died: New Haven, Conn., March 11, 2002

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