This book is a must for serious traders. Tom takes you through all the various position and portfolio management concepts he developed and used at Trendstat Capital managing hundreds of millions of dollars in stocks, futures, forex and mutual funds. The concepts provided include simple to use formulas that should help any trader "right-size" each position in the portfolio over the lifetime of each trade. Studies at Trendstat showed that these concepts added to the returns, reduced drawdowns and generally enhanced the return to risk ratios of most trading strategies. Nearly every trader should be able to extract a few good ideas to include in their trading strategy from this easy to read book.