About the book: 2014 / The works of Harry Markowitz and Eugene Fime, the revolutionary views of Franco Modigliani and Merton Miller, the theories of Fisher Black, Myron Scholes and Robert Merton appeared back in 1950– 1970s, but for a long time did not receive recognition from practitioners. Nowadays, it is difficult to imagine the world of finance without them. They radically changed the nature of financial markets, investment strategies, and led to the emergence of new financial instruments. The author analyzes the process of development of fundamental ideas of financial theory and their impact on the practice of the modern investment world. The book is aimed at students and teachers of economic universities, financiers and a wide range of readers interested in the application of financial theory in practice.