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Risk-Opportunity Analysis Paperback – February 3, 2012
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About the Author
RALPH VINCE got his start in the trading business as a margin clerk, and later worked as a consultant programmer to large futures traders and fund managers. He presently chairs the Derivatives/Forex Committee on the board of The Market Technicians Association. Since the publication of Portfolio Management Formulas and The Mathematics of Money Management, both published by Wiley, numerous software companies have incorporated these ideas into their products.
Top customer reviews
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The author is obviously an authority in his domain, and this is without a doubt an excellent book. But a mathematician or a statistician should review this book. In each case it's absolutely unsuited for beginners.
Mr. Vince covers the material rigorously, clearly and in a manner that is bound to create multiple "AH-HAH" moments. Building on a simple coin-toss game, Mr. Vince leads the reader to revelations about position-sizing, risk management, and the building blocks of a portfolio management theory that is robust in any and all market conditions.
When the author promises to have written a book that "wasn't mathematical", don't believe him!!! But despite the complexity of thought that spews from a brilliant mind, be not deterred. The essence of this book is within reach of everyone and working through it is well worth the effort. It should also be noted that working through "Risk Opportunity Analysis" will easily lead to the larger task of moving on to the same author's "The Leverage Space Trading Model".
Finding a path to safely guide one's portfolio, whether an individual investor or professional money manager, through a non-stop progression of random and cataclysmic events is essential. My advice is to give careful consideration to every word written by Ralph Vince.
-- Fred Rickey