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The Mathematics of Money Management: Risk…
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The Mathematics of Money Management: Risk Analysis Techniques for Traders

by Ralph Vince

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I suggest reading "The Intelligent Investor" first, otherwise this book can get you confused, or draw you into the risky area of speculative trading.

The book is a bit dense but insightful. It deals more with game theory and day trading, but it is also useful for non-speculative (read: sane) investors. It discusses at length the math of portfolio management and diversification.

Money quote: "Diversification, if done properly, is a technique that increases returns. It does not necessarily reduce worst-case drawdowns. This is absolutely contrary to the popular notion." ( )
  valdanylchuk | Aug 26, 2015 |
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Amazon.com Product Description (ISBN 0471547387, Hardcover)

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.

(retrieved from Amazon Thu, 12 Mar 2015 18:08:53 -0400)

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