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Berk Günberk
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ACTIVE

Quant Finance Papers

The papers sit in chronological order. The order matters, because most of them answer the one before.

19501960197019801990200020102020
1952Harry MarkowitzPortfolio Selection

The first work to frame portfolio selection as a trade-off between expected return and variance.

1952A. D. RoySafety First

A work that defines risk not as fluctuation but as the probability of falling below a given threshold.

1958James TobinLiquidity Preference

A work showing that once a risk-free asset is added, the efficient set stops being a curve and collapses to a line.

1964William F. SharpeCapital Asset Prices

A work asking where prices settle if everyone behaves the same way, and reducing risk to a single coefficient.

1972Robert C. MertonAnalytic Derivation of the FrontierStatus: planned
1989Richard O. MichaudThe Markowitz Optimization EnigmaStatus: planned
1992Fischer Black, Robert LittermanGlobal Portfolio OptimizationStatus: planned
1993Vijay K. Chopra, William T. ZiembaThe Effect of ErrorsStatus: planned
1999Guangliang He, Robert LittermanThe Intuition Behind Black-LittermanStatus: planned
2004Olivier Ledoit, Michael WolfHoney, I Shrunk the Covariance MatrixStatus: planned
2009Victor DeMiguel, Lorenzo Garlappi, Raman UppalOptimal Versus Naive DiversificationStatus: planned
2016Marcos López de PradoHierarchical Risk ParityStatus: planned
  • Relation types
  • Argues against
  • Builds on
  • Answers
  • Parallel framing