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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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4.3 ★★★★★
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Product Reviews
★★★★★ 5
Good review
Format: Paperback
This workbook touches on many important skills that are taught in 3rd grade. It’s a great workbook that can be used by parents or someone who is doing summer tutoring.
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Reviewed in the United States on February 10, 2026
★★★★★ 5
Great Summer Bridge Activities for Students going into 4th Grade
Good for 3rd going into 4th grade summer activities.
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Reviewed in the United States on April 29, 2026
★★★★★ 5
a perfect summer romance
Format: Paperback
this book was phenomenal!! i loved every page and i fell in love with the story and characters. it’s told in past and present timelines over the course of six summers and one weekend 12 years later. you get small town, second chance romance, childhood best friends to lovers to strangers to lovers, and more! some of my fav tropes in one book <3 i love the parallel events between the past and present chapters, seeing how percy and sam grown and matured but also stay the same throughout the years (iykyk - the friendship bracelets, “swear on it”, ice cream). their attraction and connection are undeniable! the book perfectly captures friendship, teenage angst, first love, loss, mistakes, and forgiveness. it’s also about finding your person, someone who understands you like no other.
the writing was spectacular - it was so magical and enchanting as it encapsulated summer nostalgia at a lakeside cottage. i felt like i experienced every summer with percy and sam. i love how real and relatable the characters are. percy and sam are two flawed characters that let their fears get in their way, but they try their best to repair what they broke. i adore sam so so much, he’s the sweetest and kindest guy who loves really hard. the sarcasm and banter between the two were soo good too, i loved how we get a glimpse of what they were like at 13 and then at 30.
this is the PERFECT summer read, i highly recommend it!! i promise you’ll love this if you love ‘love and other words’ by christina lauren! i didn’t think i’d find a book like laow that hits the same, but reading this book made my lil laow heart so happy 💞 i’m blown away by the fact that this is carley fortune’s debut novel and i hope there is more to come!
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Reviewed in the United States on June 16, 2023
★★★★★ 4
Sam + Percy 💕
Format: Kindle
Every Summer After is a perfect summer read and although it had been in my TBR for so long, I really enjoyed it. I’m a sucker for second chance romance and childhood friends to lovers and I was captivated immediately. Their friendship blossomed into a cute young love romance until one impulsive decision during a vulnerable moment lead to the downfall of Sam & Percy’s relationship.
Now over a decade later, Percy makes the trip back to the lake to attend a funeral and memories flood back of her summers with Sam. But does time heal all wounds? Read to find out.
I really love young love romances because they are innocent with heighten emotions, personal growths and can be extremely messy. Not to mention the angst that keeps me wanting to read more and this book definitely kept me engaged.
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Reviewed in the United States on September 7, 2025
★★★★★ 5
Warm Blanket Read
Format: Paperback
Wow, I didn’t know how much I needed this and I inhaled it. I needed to feel a bit of summer. I needed a small town. What I didn’t know I needed was a big love story. This was perfect and escapist. A perfect read to make you feel good and characters to swoon over. Can’t wait for the show now.
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Reviewed in the United States on May 30, 2026