The evolution of a quantitative approach to finance has proceeded through many small but significant steps and occasional large epiphanies. This talk outlines how, over the past 70 years, financial models have quantified the notion of derivatives, diffusion, risk, volatility, the riskless rate, diversification, hedging, replication, and the principle of no riskless arbitrage, and explores their consequences. Emanuel Derman is a professor at Columbia University, where he directs their program in financial engineering. He is the author of My Life As A Quant, one of Business Week’s top ten books of the year, in which he introduced the quant world to a wide audience. His latest book is Models. Behaving. Badly: Why Confusing Illusion with Reality Can Lead to Disasters, On Wall Street and in Life. Join us for a historical perspective on the applications of quantitative finance and the evolution of the discipline during the past 70 years.