Biographical note: Mark Davis, Professor of Mathematics at Imperial College London, has written three books on stochastic modeling and control, most recently "Markov Models and Optimization". Alison Etheridge, Professor of Probability at the University of Oxford, is the author of "A Course in...

These speeches were delivered by Nobel Laureates Paul Samuelson and Robert Merton on the occasion of their recognition by the FMA, October 7, 1999, Orlando, Florida Edward J. Kanedelivered the introduction

This is a terse account of group creation of modern finance theory; and a sampling of my prosaic autobiographical investing and consulting for nonprofit academies. Eschewing 1900 Bachelier and 1905 Einstein white noise randomness, my martingale version of market micro efficiency invoked no...