Some highpoints of the history Harry Markowits and portfolio selection "Portfolio Selection",Journal of Finance, 1952 --"risk"and "return":Mean-Variance model William Sharp and CAPM "Capital Asset Prices:A Theory of Market Equilibrium under Conditions of Risk, Journal of Finance,in 1964 22-422-4 Some highpoints of the history Some highpoints of the history ƒ Harry Markowits and portfolio selection “Portfolio Selection”, Journal of Finance, 1952 -- “risk” and “return”: Mean-Variance model ƒ William Sharp and CAPM “Capital Asset Prices：A Theory of Market Equilibrium under Conditions of Risk” , Journal of Finance, in 1964