On October 16, 1990, the Royal Swedish Academy of Sciences announced its selection for the Nobel Memorial Prize in Economic Science. For the first time since the prize for economics was established in 1968, the Royal Academy chose three individuals whose primary contributions are in finance and whose affiliations are not with arts and science schools, but rather with schools of business. Harry Markowitz was cited for his pioneering research in portfolio selection, while William Sharpe shared the award for developing an equilibrium theory of asset pricing. Merton Miller was a cowinner for his contributions in corporate finance, in which he showed, along with Franco Modigliani, that the value of a firm should be invariant to its capital structure and dividend policy. The pioneering research of these individuals revolutionized finance and, of particular relevance for this column, motivated the application of quantitative methods to financial analysis. It is thus fitting that we devote this issue’s column to the essential contributions of these Nobel laureates.