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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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4.0 ★★★★★
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Product Reviews
★★★★★ 5
The best dog toy llama!
Color: Llama
My fur baby LOVES his stuffed llama!
WAS THIS REVIEW HELPFUL?YesReportShare
Reviewed in the United States on April 13, 2026
★★★★★ 5
Perfect Squeaky Toy for My Exes Deranged Dog
Color: Multicolor, Color: Multicolor
My ex-beau and I are still friendly and we exchange Christmas presents. This year, I wanted to make sure that his utterly nutty and completely bonkers Aussie, Diego, got a new toy so that he has added enrichment in his enclosure. Diego really enjoyed this toy! A perfect size for him and a loud squeaker, which my ex will undoubtedly appreciate being squeaked non-stop while he is trying to game with his various assortment of video game people. Worth every penny. Diego’s smiling face is proof of his delight in his adorable Slothicorn. Squeak away, Diego! Squeak away!
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Reviewed in the United States on January 14, 2026
★★★★★ 4
Fun
Color: Multicolor
A little smaller than we'd hoped but all in all he's pretty cool and our dogs loved him.
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Reviewed in the United States on October 5, 2025
★★★★★ 5
Worth it!
Color: Llama
Wanted to keep this for myself! Made well, size is perfect for a 90 pound pup, durable enough for a non chewer (she cleans their fur but doesn’t chew anymore). Durable enough that has been left outside during Summer storms and washed/dryed a couple times already (I use a laundry bag) and still has its adorable shape.
Great value for the money, though I might need to buy another one for myself! *^_^*
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Reviewed in the United States on August 1, 2025
★★★★★ 5
Our Doodle's Fav Toy
Color: Multicolor
The first slothicorn toy that we received had a broken squeaker. We were able to quickly and easily get a replacement and send the broken one back. This is one of my pup's favorite toys, although I don't think the horn will last long-- it's the part she likes to chew on the most! At 5lbs, the toy is the same size as my Goldendoodle puppy. I think the toy is overpriced when not on sale (I got on Black Friday promo), so I would encourage waiting for a price drop before purchasing or locating another option that's affordable.
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Reviewed in the United States on January 2, 2026
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