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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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★★★★★ 5
Perfect Throw
Color: Solid Dark Taupe, Size: 60"x80"
I love this elegant throw. It's heavy, soft, durable, comfy... Honestly perfect. I will eventually replace all the throws around the house with this one.
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Reviewed in the United States on April 27, 2026
★★★★★ 5
Amazing beautiful blanket
Color: Marble Beige & Grey Chocolate, Size: 60"x80"
Just received this beautiful blanket , it came in a black box . So happy I would like to buy another one
It’s a great quality very soft it’s not thin it has a good weight to it , beautiful colors of gray white and gray and dark chocolate That one is 10 stars for sure , I recommend buying this one
Love Love. It
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Reviewed in the United States on May 27, 2026
★★★★★ 5
The most amazing blanket EVER!!!
I just got this yesterday and I’m obsessed already. It’s the softest thing I’ve ever touched. The reverse side is also a super soft velour-like feel. I got the Marble Charcoal Grey in 60x80. It looks exactly like the photos and it’s truly a bubble design too. Looks so good draped across my bed.
And it’s HEAVY! Literally feels like a weighted blanket on top of being unbelievably soft and cozy. Now I want to get the largest size for even more heavy, snuggly bliss. I slept with it last night along with my normal blanket and I fell asleep much quicker than usual.
It does shed a bit on my black clothes but I don’t even care lol. The packaging it arrives in makes it wonderfully gift-able and also lets you know it’s a women-owned company. Didn’t arrive with any bad smells either. All the stitching is immaculate, really everything about this blanket is.
I got it on a Black Friday deal for $20% off at $51, it’s worth every penny and feels like a steal to be honest. The quality is unmatched. I’ll have to refrain from buying every single color!
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Reviewed in the United States on November 23, 2025
★★★★★ 4
Like it. Good value.
Color: Ivory White, Size: 60"x80"
I like it. It’s furry, obviously acrylic but soft and I like the feel of it.
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Reviewed in the United States on April 27, 2026
★★★★★ 5
Worth every penny
Color: Ivory White, Size: 90"x90"
This blanket is so soft and comforting, I just love it! It arrived sealed in a plastic bag and fluffed up instantly, I briefly put it in the dryer on low and it came out absolutely perfect. There was no odd smell, no loose threads, it was very well made and looks so inviting on my bed! Definitely a great buy that will keep you warm.
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Reviewed in the United States on February 9, 2026