  This paper was presented and written for two seminars: a national UK
University Risk Conference and a Risk Management industry workshop. The target
audience is therefore a cross section of Academics and industry professionals.
  The current ongoing global credit crunch has highlighted the importance of
risk measurement in Finance to companies and regulators alike. Despite risk
measurement's central importance to risk management, few papers exist reviewing
them or following their evolution from its foremost beginnings up to the
present day risk measures.
  This paper reviews the most important portfolio risk measures in Financial
Mathematics, from Bernoulli (1738) to Markowitz's Portfolio Theory, to the
presently preferred risk measures such as CVaR (conditional Value at Risk). We
provide a chronological review of the risk measures and survey less commonly
known risk measures e.g. Treynor ratio.
