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Showing 1 - 6 of 6 matches in All Departments
"The Handbook of Portfolio Mathematics" "For the serious investor, trader, or money manager, this book
takes a rewarding look into modern portfolio theory. Vince
introduces a leverage-space portfolio model, tweaks it for the
drawdown probability, and delivers a superior model. He even
provides equations to maximize returns for a chosen level of risk.
So if you're serious about making money in today's markets, buy
this book. Read it. Profit from it." "This is an important book. Though traders routinely speak of
their 'edge' in the marketplace and ways of handling 'risk, ' few
can define and measure these accurately. In this book, Ralph Vince
takes readers step by step through an understanding of the
mathematical foundations of trading, significantly extending his
earlier work and breaking important new ground. His lucid writing
style and liberal use of practical examples make this book must
reading." "Ralph Vince is one of the world's foremost authorities on
quantitative portfolio analysis. In this masterly contribution,
Ralph builds on his early pioneering findings to address the
real-world concerns of money managers in the trenches--how to
systematically maximize gains in relation to risk." "Gambling and investing may make strange bedfellows in the eyes
of many, but not Ralph Vince, who once again demonstrates that an
open mind is the investor's most valuable asset. What does bet
sizing have to do with investing? The answer to that question and
many morelie inside this iconoclastic work. Want to make the most
of your investing skills? Open this book."
Every futures, options, and stock markets trader operates under a set of highly suspect rules and assumptions. Are you risking your career on yours? Exceptionally clear and easy to use, The Mathematics of Money Management substitutes precise mathematical modeling for the subjective decision-making processes many traders and serious investors depend on. Step-by-step, it unveils powerful strategies for creating and using key money management formulas—based on the rules of probability and modern portfolio theory—that maximizes the potential gains for the level of risk you are assuming. With them, you’ll determine the payoffs and consequences of any potential trading decision and obtain the highest potential growth for your specified level of risk. You’ll quickly decide: What markets to trade in and at what quantities When to add or subtract funds from an account How to reinvest trading profits for maximum yield The Mathematics of Money Management provides the missing element in modern portfolio theory that weds optimal f to the optimal portfolio.
Praise for "The Leverage Space Trading Model" "As Warren Buffett said, 'It's only when the tide goes out that
you learn who's been swimming naked.' We now know that most have
been. It's too bad that Ralph Vince did not finish his book in 2005
or 2006, it would have helped save institutional investors and our
nation trillions of dollars; few people understand the rewards of
leverage and its inherent risks like Ralph. As we found out, most
hedge funds and banks use leverage without knowing how to quantify
its risks or rewards. This book is a must-read for anyone using or
being responsible for risk. Leverage is one of our greatest
empowerments." "Ralph Vince is almost alone in his study of trade sizing, but
that doesn't mean he isn't right. Traders should read this
book." "As we've seen recently, the gross misuse of leverage has been a
hard lesson for institutions. But position sizing is critical to
the success of all traders, big and small, and Ralph Vince brings
fresh thinking to an area that badly needs it. He challenges the
status quo and makes you think about what you're doing. He attacks
the major flaws of MPT. There is no doubt that you'll benefit from
Ralph's ideas." "If Ralph Vince writes it, I read it...every word, every thought
this guy has produced has led me to additional market profits.
Money management is clearly the way to the kingdom of wealth in the
investment world and Ralph gives you the keys in this book."
Explores two neglected mathematical tools essential for competing successfully in today's frenzied commodities markets: quantity, which shows the proper amounts a trader should trade for a given market and system, and intercorrelation of returns (diversification), which shows not only which markets and systems to trade, but how to diversify with respect to trading the right quantities for each market. By using these lesser known tools in conjunction with the more popular trade/system selection tools, readers will see mathematically how success in the markets can be achieved, and how ``success'' without using all three is most likely incidental. In addition, non-stationary distribution of profits and losses and drawdowns are incorporated into the discussions to expose traders to the highs and lows of commodities markets and how best to leverage their assets.
THE NEW MONEY MANAGEMENT In his bestselling Portfolio Management Formulas and The Mathematics of Money Management, Ralph Vince brought the complex mathematics of probability and modern portfolio management theory down to earth for traders and investors. He introduced innovative new ways they could be used to maximize account management decisions. Now, in this groundbreaking new book, Vince takes a quantum leap forward to provide investment professionals with a proven new approach to portfolio management that overturns nearly a half-century of accepted wisdom about asset allocation and money management. The culmination of Ralph Vince's years spent probing the limits of the mathematics of portfolio management, The New Money Management elaborates on his celebrated Optimal f notion—a concept which will be familiar to readers of either of Vince's previous books—to provide a revolutionary portfolio management model designed to optimize account performance, not just in the long run, but at virtually any given point in time. Unlike traditional models which focus on risk and reward as competing entities, the approach to portfolio construction described in this book concentrates on obtaining optimal synergy among all of the various components of a given portfolio. Unlike previous portfolio models which assumed an a priori distribution to returns, usually with returns being normally distributed, this new model is applicable to any distributional form of return. In The New Money Management, Ralph Vince once again demonstrates his critically acclaimed talent for talking about highly complex concepts in practical, real-world terms. Writing in a lively, anecdotal style, and relying on a bare minimum of math, he gently guides readers through the maze of complex theoretical issues while arming them with a set of easy-to-understand, easy-to-use formulas and investment strategies that they can put into practice immediately. The New Money Management is an indispensable resource for all investment professionals, especially traders in stocks, options, and futures; institutional investors; and portfolio managers. From a leading pioneer in portfolio theory, a revolutionary new approach to maximizing ongoing account equity . . . In his most original and accessible book yet, computer trading systems expert Ralph Vince introduces investment professionals to a revolutionary portfolio management model designed to optimize account performance, not just in the long run, but at virtually any given point in time. "Ralph Vince has done it again. His work is original and level-headed, and contributes more than anyone else to our understanding of risk. Vince's work is required reading for any portfolio manager." —Barbara Rockefeller, President Rockefeller Asset Management, Inc. "Ralph Vince's optimal concept is the single best strategy for determining how many contracts or number of shares to buy when first entering a trade. This latest book breaks new ground in the field of money management." —Howard A. Bernstein, President HB Capital Management, Inc. "I would encourage all progressive portfolio managers to understand Ralph Vince's methodology. His works continue to be a rigorously well-researched and documented method of risk control and asset allocation. His focus is unique in our industry." —Michael J. McCarthy, Portfolio Manager Signalert Corporation "A great book, if you want to get rich quickly without going broke first, to help you formulate your risk and trading strategy." —Harry Ploss Private Managed Futures Investor and Actuary
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