SKU: 82019938543

Too Smart for Our Own Good: Ingenious Investment Strategies, Illusions of Safety, and Market Crashes

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Too Smart for Our Own Good: Ingenious Investment Strategies, Illusions of Safety, and Market CrashesHow investment strategies designed to reduce risk can increase risk for everyone and can crash markets and economies Financial crises are often blamed on unforeseeable events, the unforgiving nature of capital markets, or just plain bad luck. Too Smart for Our Own Good argues that these crises are caused by certain alluring investment strategies that promise both high returns and safety of capital. In other words, the severe and widespread crises we

How investment strategies designed to reduce risk can increase risk for everyone--and can crash markets and economies
Financial crises are often blamed on unforeseeable events, the unforgiving nature of capital markets, or just plain bad luck. Too Smart for Our Own Good argues that these crises are caused by certain alluring investment strategies that promise both high returns and safety of capital. In other words, the severe and widespread crises we have suffered in recent decades were not perfect storms. Instead, they were made by us. By understanding how and why this is so, we may be able to avoid or ameliorate future crises--and maybe even anticipate them.
One of today's leading financial thinkers, Bruce I. Jacobs, examines recent financial crises--including the 1987 stock market crash, the 1998 collapse of the hedge fund Long-Term Capital Management, the 2007-2008 credit crisis, and the European debt crisis--and reveals the common threads that explain these market disruptions. In each case, investors in search of safety were drawn to novel strategies that were intended to reduce risk but actually magnified it--and blew up markets. Too Smart for Our Own Good takes a behind-the-curtain look at:
-The inseparable nature of investment risk and reward and the often counterproductive effects of some popular approaches for reducing risk-A trading strategy known as portfolio insurance and the key role it played in the 1987 stock market crash-How option-related trading disrupted markets in the decade following the 1987 crash-Why the demise of Long-Term Capital Management in 1998 wreaked havoc on US stock and bond markets -How mortgage-backed financial products, by shifting risk from one party to another, created the credit crisis of 2007-2008 and contributed to the subsequent European debt crisis
This broad, detailed investigation of financial crises is the most penetrating and objective look at the subject to date. In addition, Jacobs, an industry insider, offers invaluable insights into the nature of investment risk and reward, and how to manage risk.
Risk is unavoidable--especially in investing--and financial markets connect us all. Until we accept these facts and manage risk in responsible ways, major crises will always be just around the bend. Too Smart for Our Own Good is a big step toward smarter investing--and a better financial future for everyone.



Binding Type: Hardcover
Publisher: McGraw-Hill Education
Published: 12/05/2018
ISBN: 9781260440546
Pages: 464
Weight: 1.55lbs
Size: 9.10h x 6.00w x 1.70d
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SKU: 82019938543

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Battle Creek, US
★★★★★ 5
Surprisingly comfortable! The perfect everyday basic sneaker.
Size: 11, Color: Tan
I was looking for a simple, clean pair of white sneakers that wouldn’t break the bank, and these absolutely exceeded my expectations. Right out of the box, the canvas material felt soft, and I was pleasantly surprised that they required zero "break-in" time—no blisters or rubbing on the back of my heels even after a full day of walking. The classic low-top design is incredibly versatile; they look great with shorts, jeans, or even casual chinos for a relaxed office look. The insoles have a decent amount of cushion for a flat sneaker, making them comfortable enough for running daily errands or light traveling. They feel sturdy, the stitching is clean, and honestly, the quality easily rivals brands that cost three times as much.
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Reviewed in the United States on May 28, 2026
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Alok Dwivedi
Natrona Heights, US
★★★★★ 4
Decent, but look big on the feet.
Size: 11, Color: Taupe, Size: 11, Color: Taupe
They fit a little large, or at least they look a little large for my feed, so I think they might not work for dressy outfits well. The quality is good thick, style and color are accurate. however, they can make a slight squeak. Value for money is good, as you can get it for discounts sometimes. they seem durable, comfort wise, I would say that they are okay, for city lifestyle, if you dont have a lot of activity to do, except some walking.
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paul
Lowell, US
★★★★★ 5
Versatile and well priced
Size: 11, Color: Black
Great for the price. Look good for kicking it around town or for a business casual work place. They fit great, they're comfortable, the black is deep, and the price is right.
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Dong
Alexandria, US
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Nice Sneakers
Size: 9, Color: Black
Very comfortable and easy to wear. They feel lightweight and fit true to size. Good value for the price.
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Lake Worth, US
★★★★★ 1
Loud, cheap shoes
Size: 9, Color: Black
Loud and squeaky, making them unwearable
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Reviewed in the United States on April 2, 2026

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