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Trading Risk Enhanced Profitability through Risk Control
ISBN: 0471650919     Date Published: 2004-09-16     Author(s): Kenneth L. Grant
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272 Pages
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06/20/2013 01:29:04
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Editorial Review - Book Description:
Revolutionary techniques that traders can implement to improve profits and avoid losses

No trader, professional or individual, can afford not to have a solid risk management program integrated into his or her trading system. But finding a precise mathematical model to replace subjective decision-making processes is a challenge. Traditionally, risk management has focused solely on loss avoidance, but in Trading Risk, hedge fund risk manager Kenneth Grant presents some-thing completely new?how to manage a portfolio to minimize risk and increase profits by putting more capital at risk. Trading Risk details a risk management program that can help both money managers and individual traders evaluate which elements in a portfolio are working efficiently and which aren?t. By illustrating an extremely simple set of statistical and arithmetic tools this book can help readers enhance their performance in many financial markets.

Kenneth L.Grant is Cheyne?s Global Risk Manager, and is the Managing Member for Cheyne Capital, LLC, the firm?s U.S. arm. Mr. Grant is a pioneer in the field of hedge fund risk management and capital allocation. Before joining Cheyne, he created risk control programs at two of the world?s leading hedge funds, Tudor Investments and SAC Capital, where he was eventually promoted to the title of Chief Investment Strategist. Mr. Grant holds a Bachelor of Science in Economics and Mathematics from the University of Wisconsin, an MA in Economics from Columbia University, and an MBA from the University of Chicago Graduate School of Business.
Customer Review:
Total Reviews: (41)
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29 of 32 People found the following review helpful.

Must Read on a Neglected Topic, October 17, 2004 ByBrett Steenbarger (Naperville, IL USA) - See all my reviews This review is from: Trading Risk: Enhanced Profitability through Risk Control (Hardcover) In his book Trading Risk, Ken Grant draws upon his experience as a risk manager for Tudor Investments and SAC Capital to create an insightful and surprisingly non-technical guide for traders and portfolio managers. As Director of Trader Development at a large proprietary trading house, I have been impressed with the role risk management plays in the success of the firm and its individual traders. Moreover, this is a scalable difference: risk management very much impacts the outcomes of individual trades, results of trading days, and performance across entire quarters. Where I believe Grant has admirably succeeded is in documenting that risk management is much more than simply "cutting your losses". Trading Risk systematically breaks down elements of the process of managing trades, from the establishment of concrete objectives to the allocation of risk capital to specific trades and the use of correlation analysis in evaluating trading results. His discussions of adjusting...
11 of 12 People found the following review helpful.

Most Useful Risk Management Book on the Market, October 14, 2004 ByAndrew L. Weinberg - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Trading Risk: Enhanced Profitability through Risk Control (Hardcover) Ken Grant is a world-class risk manager and an entertaining, thought-provoking writer who has successfully intertwined his knowledge of performance-enhancing risk management techniques, human history, rock-and-roll wisdom and an engaging account of his own experiences and anecdotes as head of risk management/ Chief Investment Officer at some of the largest and most consistently profitable hedge funds in the nation. This book is fascinating, insightful and fairly easy to read, but is also a highly detailed and practical tool for anyone seeking a blueprint for implementing Ken's own dynamic and adaptive risk management processes. Ken offers up valuable insights and methodologies along with case studies gleaned from his long and highly successful career at the epicenter of the hedge fund universe. Ken's wisdom and graceful writing style make it a pleasure to read this book on what can be a difficult and confusing subject. Trading Risk can help develop a discipline that fits...
9 of 10 People found the following review helpful.

A New Standard for the Industry, October 6, 2004 ByBestrobots "MM" (London, England) - See all my reviews This review is from: Trading Risk: Enhanced Profitability through Risk Control (Hardcover) Grant's skillful review of the sometimes complex topics in this field are a revelation. This text should be used by all students in the field, and expereinced practitioners will benefit as well.
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