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.
Ralph Vince is by profession a computer programmer writing analytical programs for funds, large traders and professional gamblers. He is the author of five books on investing in his field of expertise, portfolio management and portfolio/trade optimization.
In his latest book, In The Leverage Space Trading Model, Vince offers a groundbreaking contribution to the literature that builds on a lifetime of expert analysis to deliver not only a superior new portfolio model, but takes the entire discipline of portfolio management to a new level.
To quote a few industry leaders:
"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."
--Larry Williams, trader, fund manager, and author of Trade Stocks & Commodities with the Insiders: Secrets of the COT Report and Long-Term Secrets to Short-Term Trading
"I have known Mr. Vince for many years and he is quite simply one of the brightest minds in the industry. Do not miss this opportunity to share his insights into the investment process. John Bollinger, CFA, CMT, author of Bollinger on Bollinger Bands.
Mr. Vince's books are utilized as text books for university financial engineering programs and he is a lecturer at universities and financial seminars worldwide.
Mr. Vince is holding a one-and-a-half day workshop is designed for traders and investment managers of all asset classes in London on June 29th-30, 2010. The event will provide an in-depth, practical and quantitative understanding of the portfolio optimization and money management techniques developed by him, including his Optimal f and Leverage Portfolio Models. For more information visit http://rvincelondon201006.eventbrite.com/
Books by Ralph Vince:
The Leverage Space Trading Model: Reconciling Portfolio Management Strategies and Economic Theory (Wiley Trading 2009)
The Handbook of Portfolio Mathematics: Formulas for Optimal Allocation & Leverage (Wiley Trading 2007)
The New Money Management: A Framework for Asset Allocation (Wiley Trading 1995)
The Mathematics of Money Management: Risk Analysis Techniques for Traders (Wiley Trading 1992)
Portfolio Management Formulas : Mathematical Trading Methods for the Futures, Options, and Stock Markets (Wiley Trading 1990)
