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Description
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 economiesFinancial 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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4.6 ★★★★★
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Product Reviews
★★★★★ 5
Good quality
Color: Green
Very easy to use, and great taste for the price !
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Reviewed in the United States on May 5, 2026
★★★★★ 5
Great !!!
Color: Light Green, Color: Light Green
Can't wait to use this and everything came in perfect conditions!!!
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Reviewed in the United States on June 6, 2026
★★★★★ 4
Overall good, whisk pieces may break off over time
Color: Green
Overall great product, only complaint is that the ends of the whisk start to break off over time
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Reviewed in the United States on January 18, 2026
★★★★★ 5
Beautiful set, highly recommend, works well, great price
Color: Green
This set was gorgeous and worked very well for making Matcha at home. Highly recommend buying the set so you can keep your whisk's shape after rinsing. The holder is beautiful! I have both the holder and the whisk on display in my kitchen next to my matcha and teas. So pretty. Great value.
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Reviewed in the United States on May 3, 2026
★★★★★ 5
Great price!
Color: Green
I love it! I waahed it & dried, then used it to make my matcha. I had been using a silicon pastry brush! Lol. (& making a mess) so it was great to have the right tools to make it. Comes with bamboo whisk, ceramic stand, bamboo spoon for consistent measurment, stainless cup size strainer, & bamboo scraper to swipe matcha powder in sifter & scrape lumps from side of bowl or cup. I just made it in the cup today.
Simplified the process.
I am super pleased.
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Reviewed in the United States on April 19, 2026
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