Dr. Van K. Tharp's Special Report on Money Management

In this special report, written by Van K. Tharp, Ph.D., you'll learn dozens of different models of money management—one of which could make a big difference for you. The biggest secret that most people neglect in their quest for big profits is proper money management (AKA Position Sizing™). Research has proven that about 90% of the variance in performance between portfolio managers is due to money management. For the average trader, it makes the difference between losing, and winning big—depending upon your objectives. Probably the most valuable book any trader could own.

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What you will learn from this report:

• The definition of position sizing
• 27 models of position sizing with three ways to measure equity
• How to design high reward risk systems for managing money
• Four techniques to produce maximum profits
• How to meet your objectives with position sizing
• Optimal position sizing techniques
• Understanding total, core, and reduced total equity models
• Using group and portfolio heat.
• Generalize "turtles" position sizing™ techniques
• Market Wizard position sizing techniques
• How to maintain constant risk
• How to maintain constant volatility
• Margin based position sizing
• Equal leverage models.

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Dr. Tharp calls this type of money management a "secret" because few people seem to understand it, including many people who’ve written books on the topic. Some people call it risk control, others call it diversification, and still others call it how to "wisely" invest your money. However, the money management that is the key to top trading and investing simply refers to the algorithm that tells you "how much" with respect to any particular position in the market. That is why Dr. Tharp now calls this concept position sizing.

As if the issue of money management weren’t confusing enough on its own, there are also many psychological biases that keep people from practicing sound money management. And, there are practical considerations, such as not understanding money management or not having sufficient funds to practice sound money management.

"Few traders understand the need for position sizing; not much is published on the subject. One work is Tharp’s Special Report on Money Management, which covers the basics of a wide range of viable position sizing techniques and gives references for more thorough inquiry."—Scott Brown, The Path Less Traded, The Technical Analysis of Stocks and Commodities, September 1998

This report is written to give you an overall understanding of the topic and to show you various models of money management.

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