T O O R
The key moments for quantitative finance
Louis Bachelier:“Theory of Speculation”
Harry Markowitz:“Modern Portfolio Theory”( MPT)
Fischer Black, Myron Scholes, Robert Merton:“Black-Scholes- Merton model”
1900 1952 1973
When examining data across time – such as daily stock prices – time series analysis becomes invaluable, revealing trends, seasonal patterns and correlations that might otherwise remain hidden.
The evolution of quantitative finance has been marked by several watershed moments.
Louis Bachelier’ s 1900 thesis,“ Theory of Speculation,” first applied concepts related to random walks( Brownian motion) to financial markets, laying early groundwork for modern approaches.
A half-century later, Harry Markowitz introduced Modern Portfolio Theory( MPT), providing the first rigorous mathematical framework for portfolio construction.
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