SKU: 82019938543

Too Smart for Our Own Good: Ingenious Investment Strategies, Illusions of Safety, and Market Crashes

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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 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 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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SKU: 82019938543

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Talagand
Omaha, US
★★★★★ 4
Reasonably adequate room divider
Size: 4 Panel-88'', Color: Beige
I'm reviewing this as I assemble it. Couple things: 1. I didn't expect as much assembly. I've ordered dividers before and they more-or-less came as one unit. Sometimes the panels needed screwing together. These require complete assembly and come largely as three rods: two make up vertical columns and snap together. Another one (called part "C") makes the horizontal columns and you have two of these per panel (one attaches to part "A" and the other part "B"). These parts are metal with a plastic shim. Using the wood screws to attach to part "C" is a real pain in the neck. There's not much holding the panel in place so it's a little tricky. One tactic I've found while I'm assembling that works for the initial connections from parts A and B to their respective "C" rods is to hold the screw in place with a screw driver and then rotating the rod around the screw. This will do a number on your hands if you aren't wearing gloves. This obviously doesn't work when completing the connection. Using a driller driver on this is really near impossible because there isn't anything you can use to secure it in place. You can use it on the first panel, but as it gets longer, it becomes increasingly difficult and because it isn't wood, it's really tight. I considered drilling larger pilot holes but since there are only 4x4=16 screws I need to screw in, I just decided to use my screw driver to complete it. 2. Also related to assembly. When completing the panels (attaching parts "A" and "B" to parts "C" that have the cloth cover on it), you have to be careful that when you tighten that side that it isn't loosening the other side. Because the pilot holes are so tight, you can end up rotating the rod, which rotates it in the same direction as looser on the original side. Having someone hold the "C" rod in place while you screw it in is probably the easiest approach. I didn't have a 2nd person, so I just had to keep flipping back and forth and tightening both sides as I screwed it in. Not the worlds biggest deal, but annoying nonetheless. 3. The way the instructions are written, they seem to suggest building this thing progressively; that is, you do panel 1, then 2, connect them together, then do 3 and connect it, etc. I took a different route that I suspect saved me quite a bit of trouble, and I assembled all four panels first and THEN connected everything together. 4. For the love of God make sure you check that the plastic tip is on the same side for every panel. Otherwise, you have to take one side apart again and reverse it. On the bright side, if this happens, you've essentially bored out the pilot holes to be the correct size... which is having me question if I shouldn't have just bored them out to the appropriate width in the first place. 5. Attaching all of the panels together is also an enormous pain in the ass unless you happen to have an 88" long elevated surface. Attaching the legs either requires you to elevate one side, which will invariably twist the inexplicably cheap material in the bottom connectors... or you can attach them sideways... or you can put this thing upright, having two people hold the panels in place while you use the allen wrench to tighten the bolts on the underside. None of those are particularly great options. NOW on to the utility itself. 1. The panels do let some light through (I didn't believe their advertising, and that was one of the reasons that I bought beige, is that I wanted it to not be too dark). They aren't transparent though, so it isn't that far off from their description. They functionally work great, and keep the mess of wires hidden and when I'm sitting at my desk, actually reflect quite a bit of light into my office. Great! 2. My wife has described these as "the most hideous piece of furniture ever conceived of by man." So it does not have spouse approval factor. Granted, she will seldom be in my office area, so that isn't the end of the world. 3. These are really hard to align in a way that doesn't look a little tacky. There are some plastic connectors but they don't do a bang up job of keeping these in place. Each panel is slightly tilted and it's... quite obvious. I may at some point make my own improvements to these to help make them more level. It's not a particularly expensive product so I wasn't expecting much so it's fine and I'm not going to ding them on the rating because of it. All said, would I buy this product again? Probably not. It's assembly was ~90 minutes which is about 75 minutes longer than I was anticipating spending on this (not including the 5 minute writeup that I'm doing here). But am I going to return it? Also no, if for no other reason I'd be just as annoyed taking it apart and putting it in the original box to return it.
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Reviewed in the United States on October 31, 2023
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Verified Purchase
Amazon Customer
Alexandria, US
★★★★★ 5
Good Product
Size: 3 Panel-102'', Color: Beige
I got these dividers for outdoor use for some privacy from neighbors. They arrived quickly and were easy to set up. They look good, and though the legs don’t offer stability against any amount of wind—which I expected as it wasn’t advertised for outdoor use—all it took was placing a cinder block on the feet to hold it up right. Coverage is good, it’s easy to fold and move as needed, and it’s light weight. All in all a decent product. I will caution the purchase of “used like-new,” as both of the dividers I ordered were previously returned items, and one came missing a cap, instructions were not included, and the poles were all mixed up and not properly labeled. If I had not ordered a second divider (which did include the instructions) I would have had a much harder time figuring out which pieces were which and how to put them together.
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Reviewed in the United States on May 30, 2025
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Verified Purchase
julie h.
Boise, US
★★★★★ 5
So versatile! Perfect solution for dividing a room.
Size: 4 Panel-88'', Color: Grey, Size: 4 Panel-88'', Color: Grey
Perfect solution for my space. My office has to double as the hangout room for the kids and I wanted something that would block off my computer so it is left alone. This space allows me to close off my computer as much or as little as I want. It is lightweight yet has sturdy feet. This is important so that if it gets bumped it won’t topple over. The price was great and the build time wasn’t too bad! I would recommend two people for set up. I went with the grey panels and I think I’ll end up hanging some twinkle lights at some point. Great purchase!
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Reviewed in the United States on October 9, 2025
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Verified Purchase
Abbi
Whiting, US
★★★★★ 4
4/5 Stars
Size: 4 Panel-88'', Color: Black
Very tall and easy to set up, the only thing I will say is that they do have large gaps in between, so you won't have 100% privacy unless you add a curtain in the back. Other than that, they are easy to fold, sturdy, and esy to assemble. The gaps are an easy fix so I would say they are worth it.
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Reviewed in the United States on April 16, 2026
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Verified Purchase
Tyi Campbell
Port Orchard, US
★★★★★ 5
Great product and worth the money.
Size: 4 Panel-88'', Color: Black
Portable and stable. Perfect size and gives me the privacy I need when working from home. Stability is great as long as you place the stands correctly it won't wobble. I love it.
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Reviewed in the United States on May 8, 2026

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