First of all i would like to clarify, that with this build you won't be jungling at the start of a game, or going for first blood before level 3, and you won't be tanking. But with this setup, you won't die easily after level 3, and you will be able to kill quickly. But there are two ***ests that make this build complete, and you must posess these two: Patience and Timing. If you've got these, you've won. :) Good luck!
Thanks Kagekire for translate.

At the beginning of the game, your goal is to stay in lane for as long as you can. To achieve this, your first item must be the Vampiric scepter, and you have to start with W (Turtle Stance). Because you get E (Bear Stance) on level 2, Tiger on lvl 3, DON'T TRY TO KILL BEFORE LEVEL 3!! Until that, just keep farming. Thanks to the regeneration of Turtle stance, you can stay in lane for a long time playing defensively, while Bear stance can save you from ganks. After level 3-4. you can get a bit more aggressive, you will be powerful enough to pound people. The method: Bear->Stun->Tiger->Punch. You say Exhaust, I say you don't need it. You don't need it, because if you didn't have to return home too frequently, you'll have enought gold to buy Bligewater Cutlass, wich is a good substitute for Exhaust, with a very short 60 sec cooldown. Flash is definitely good. It's useful for getting away, and to catch up with a foe for a Bear stun. I use Ignite as second, but you can use ghost if you don't find bear haste enough.

The basic rotation is EQQEQQEQQ, meaning Bear stun->Tiger->lots o' poundin'->even more poundin'->another stun and so on. If you follow the item build, you can pwn enemies quite swiftly. You've got Bligewater Cutlass for the slow, if your prey would run away. Use flash and ignite only if you feel you could definitely win with those.

Don't put a single point on Phoenix stance 'til the end of the game, because it's totally useless. Tiger is for minions, but turtle is also good. It may be slower, but it regenerates your mana, and gives a boost to your lifesteal. On higher levels you can use the jungle for regenerating after fights.

If you've got all of your item's youre quite good. Only buy Hextech Gundblade if can't buy anything else.

EQQEQQEQQ 'til mental breakdown, this sophisticated method should be enough. You should be using your slow every 60 seconds, if you're sure you want to catch up.

If you aren't in a too pleasant situation, use Bear Stance to run away. Unused summoner spells come in handy these times. The basic idea is if you start with bear, and switch between that and turtle, with a EWEWEWEWEW rotation, or if no one is in your ***, you don't need W.