Origin
It was said that Maharṣi Bhṛgu insulted Lord Viṣṇu while trying to determine who amongst the Trinity of Brahma, Viṣṇu and Śiva is the greatest, but apologised immediately of his mistake and Lord Viṣṇu instead apologised to him. Upon seeing Lord Viṣṇu's humility Maharṣi Bhṛgu declared him to be the greatest.
But Lakṣmī(the goddess symbolising prosperity), wife of Lord Vishnu perceived it as an insult of her husband. She gave a curse to Maharishi Bhṛgu, that he and his community (Brahmins) to which he represents will be parted away from wealth.
After apologising from Goddess too, she suggested him to write Bhṛgu Saṃhitā which contains predictions. In this way, Brahmins can earn their living by telling past,present and future of people.
The Ashram of Maharishi was in present day Ballia (U.P.), India. Major part of Bhṛgu Saṃhitā was destroyed during Muslim Invasions at that time.
Maharishi Bhrigu was the first compiler of predictive astrology. He compiled about 500,000 horoscopes and recorded the life details and events of various persons. This formed a database for further research and study. This study culminated in the birth of the science (Śāstra) of determining the quality of time (Horā) and is the Bṛhat Parāśara Horā Śāstra.
These Horoscopes were based upon the planetary positions of the Sun, Moon, Mercury, Venus, Mars, Jupiter, Saturn, Rāhu (North Node of the Moon) and Ketu (South Node of the Moon).
After that, Maharishi Bhṛgu gave his predictions on different types of horoscopes compiled by him with the help of Lord Gaṇeśa in a brief and concise manner. The total permutations/possible horoscope charts that can be drawn with this is about 45 million. Maharishi taught this art of predictions to his son (Śukra) and other pupils.
Read more about this topic: Bhrigu Samhita
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