Quantitative finance started in 1900 with Louis Bachelier 's doctoral thesis Theory of Speculation. Harry Markowitz 's 1952 Ph.D thesis Portfolio Selection and its published version was one of the first efforts in economic journals to formally adapt mathematical concepts to finance.
The Spaniards - Peninsulares, Criollos, and Mestizos. Like the Indians, Spaniards were also diverse in nature and background. Some were soldiers or missionaries directly from Spain. Others came as long time residents of New Spain (Mexico). Distinctions were made between criollos, those born in the Americas, and peninsulares, those born in Spain. Criollos were considered inferior to those who came from the mother country. Those persons of mixed race - Indian and Spaniard - known as mestizos, were one of the most rapidly growing groups in frontier society.
Afromestizos - Definition, explanation Afromestizos is the name for the descendants of African slaves brought to Mexico. Although their existence is not commonly known, the descendants of these African slaves, the Afromestizos, still live in the coastal Mexican states of Guerrero, Oaxaca, and Veracruz (Vaughn, 2004).