---
title: "A Report on FOLIO: An Expert Assistant for Portfolio Managers"
authors:
  - "Paul R. Cohen"
  - "Mark D. Lieberman"
doi: ""
url: "https://ijcai.org/proceedings/1983/50"
pdf: "https://ijcai.org/proceedings/1983/0050.pdf"
venue: "Proceedings of the Eighth International Joint Conference on Artificial Intelligence"
year: 1983
pages: "212-213"
track: "Expert Systems"
keywords:
---

# A Report on FOLIO: An Expert Assistant for Portfolio Managers

Paul R. Cohen, Mark D. Lieberman

*Proceedings of the Eighth International Joint Conference on Artificial Intelligence*, pages 212-213.

## Abstract

FOLIO is an expert system to assist portfolio managers. It interviews a client and, on the basis of expert knowledge, determines the client's investment goals and the portfolio that best mee ts them . FOLIO is a test bed for a theory of heuristic reasoning ab out unc ertainty (Cohen and Grinberg , 1983), and its task has many parallels to established AI paradigms such as diagnosis in medicine and construction of a student model in ICAI domains. FOLIO uses a goal programming algorithm (Hillier and Lieberm CJ. n, 1980) as a relaxation method for resolving the client's multiple goals into a portfolio that fits them optimally. This paper discusses the motivations for building FOLIO; its task, design, and operation; and examples of its recommendations.