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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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Product Reviews
★★★★★ 4
Chuckit medium rebound balls
Size: Medium
My 8 month old German shepherd dog loves these balls. They are easy to throw, they bounce great, they are very chewable! She keeps one in her mouth most of the time. It satisfies her need to chew and she does not chew other things. She drops it in the water and lets the hole fill up and drinks that way. The only problem that has caused is suction in her mouth and difficulty in dislodging it for her. However, she would be lost without it!
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Reviewed in the United States on April 19, 2023
★★★★★ 5
These are definitely indestructible
Size: Medium
Both of my dogs can destroy a ball in a matter of minutes if I let them play with them (supervised) as is. Well not with these balls. They are the ONLY ones I have found that are 100% indestructible. Please only let your dogs play with these as a toy when supervised though. They go really far when throwing them, so both dogs get a good amount of running and exercise with these. I also bought these because they have the hole in the middle of the ball which is very important in the event that a dog gets one stuck at the back of their throat. This allows them to breath unlike those without this hold. It's an unlikely event, but as dog owners, we all need to be aware of this and educate ourselves on what to do if this SHOULD happen. This isn't a scare tactic, nor a reflection of this particular brand, it can happen with any type of ball. My two dogs are about 45ish lbs and the size is perfect for them, I don't want anything smaller than this. They love them. There is no annoying squeak. Really easy to wash after use. Some balls take forever to get the slimy saliva off, but these don't.
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Reviewed in the United States on September 25, 2025
★★★★★ 5
He loves this ball
Size: Medium, Size: Medium
My dog loves this ball. It’s the perfect size, he enjoys playing fetch and this ball has been his fav one. Thank you guys for making my lil one happy
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Reviewed in the United States on May 2, 2026
★★★★★ 5
Great toy to play fetch with the dogs.
Color: Black/White, Size: Large
These balls are a great dog toy to play fetch with your dogs. This not the first ball I have gotten for the dogs. Just the right size and weight for medium sized dogs. I have less concerns about them possibly choking on these soccer balls versus tennis balls. So I can leave them out for them to play with. The are easy to inflate using the included pump. My only concern is the durability of the straps as my dogs have almost torn off one the straps of the previous ball I purchased.
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Reviewed in the United States on May 2, 2026
★★★★★ 5
Dog parents; buy this now!
Color: Black/White, Size: Medium
A must have for my pup! I have bought this at least 5 times. She eventually pops them and I need a new one. It's an amazing toy that she can thrash and we can play fetch with
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Reviewed in the United States on May 1, 2026
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