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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
★★★★★ 5
Whipped Tallow smooth and creamy
Size: 4.2 Fl Oz (Pack of 2)
Love it!!!
A great moisturizer and it lasts a long time. It makes my skin feel great! It’s a great deal with minimal ingredients.
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Reviewed in the United States on May 8, 2026
★★★★★ 5
Good product.
Tastes terrible, I know what you're thinking why are you tasting it we'll just putting it on you can taste it. It is very good on your lips made them very soft and hydrated.
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Reviewed in the United States on January 19, 2026
★★★★★ 1
Update: Chemical smell?
Edit: Something seems to be different with the current version. Why does "pure tallow, beeswax, and raw honey" smell (and taste!) like cheap perfume? Ick. Good luck getting that scent out of your brain. And what the heck is it? I don't know why they changed it but it unfortunately wasn't an improvement. It's too bad. It made a great foot balm. Pretty moisturizing and the size and form factor made it easy to apply. Hope it comes back the way it was.
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This has great/safe ingredients. It's huge. And the company seems legit so I tried it. I've given it a go and it's okay but it seems like the proportions would need to be adjusted to be more of a balm. It's good… just a little too greasy. This feels more like I just put my tallow moisturizer on my lips instead. I get that from Fancy Farm and I guess I'm going to have to stock up on theirs if I don't find something else here that has that consistency. (And no seed oils!) Lip balm needs staying power or it just becomes a nuisance.
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Reviewed in the United States on November 2, 2024
★★★★★ 5
Finally, a non-toxic chapstick!
So I typically make my own products at home using beef tallow. But I was in dire need of chapstick, and just didn't have any time or energy to do it, so I came across this brand on Amazon and had to try. I love it! Not only is it HUGE, but it is unscented, it's glides on perfectly and my lips feel super moisturized for hours. As with all tallow products, you have to be super careful about letting this stuff sit in the heat. So if you were planning on keeping it in your purse or car, it'll definitely turn into a ooey gooey mess. I keep mine in my nightstand in an air-conditioned room, and even then it gets a bit too warm on our hot 103F Summer days. Nevertheless, I recommend to those who are looking for a non-toxic chapstick that super moisturizing.
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Reviewed in the United States on August 1, 2024
★★★★★ 5
Tried the wife’s stuff, and it’s a better tool for the job.
Husband review: The wife ordered this stuff for herself, skeptical about what’s in a lot of cosmetics. I always went straight for good ol’ Carmex; but I tried it once because I was too lazy to dig around for mine. This stuff is sometimes a better tool for the job. I service swimming pools and work outside in the sun, so I sometimes struggle with dehydration & get cracked lips occasionally. I put this on before bed, and it lasts all night so I wake up better off. It’s not medicated (what she wanted), but it’s hydrating. So while I still occasionally use Carmex at work, reapplying a few times to get damaged cracks together, I use this to maintain & finish the job overnight where the other stuff would have just evaporated within an hour. Another thing: it’s soft, where chap stick would pull on a sore/crack, this stuff goes on an into damaged places like a lubricant.
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Reviewed in the United States on August 7, 2024