Stephen Foerster, a Professor of Finance at Ivey Business School and author, shares insights on the evolution of investing. He discusses iconic financial theories, such as Markowitz’s diversification principles and Sharpe’s risk measures. The conversation dives into John Bogle's advocacy for index funds and the groundbreaking Black-Scholes formula. Foerster emphasizes the distinction between correlation and causation in stock markets, as well as the lessons learned from the Madoff scandal, underscoring the importance of due diligence in portfolio management.