中文摘要：

为了让证券投资者更好地按照自己的安全标准进行投资，根据PYLE H和TURNOVSKY S J提出的安全第一标准，给出在风险价值（VaR）度量下如何选取到最优证券组合的相关结果．其结论对投资者在选择证券投资组合时具有理论上的参考价值．

英文摘要：

To deal with portfolio selection problem, the paper will get optimal portfolio models according to safetyfirst criteria under the measure of Value-at-Risk. The results will contribute some theoretical basis for security investors to make correct decisions when selecting the portfolio to meet the satisfaction of the desired safety criteria.