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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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4.8 ★★★★★
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Product Reviews
★★★★★ 5
Awesome
Organization is good fit for all my jewels
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Reviewed in the United States on March 26, 2026
★★★★★ 5
Great value, great product!
I use this as a home jewelry box - I don't wear a lot of jewelry, so it fits my needs perfectly. Its pretty lightweight and would be good for travels as well. The outside is leather-like and seems to be waterproof so far. I use the first layer for jewelery and second layer to store my hairclips and pins. I've had it for a few months and it seems to be great quality and durable! Definitely a good value as well because I've seen similar jewelry boxes sold at popular retail stores for over $30.
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Reviewed in the United States on January 21, 2026
★★★★★ 5
Lovely Slate Gray Jewelry Box
I just received this Slate Gray jewelry box. It's really quite lovely and just the right size for my granddaughter's vanity. I'm really excited about giving it to her, for her 12th Birthday, to hold her better jewelry. It's so nice I'm going to order another one for my other Granddaughter's Birthday.
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Reviewed in the United States on December 5, 2025
★★★★★ 5
Songmics Slate Gray Travel Jewelry Box
I purchased the slate gray Songmics jewelry box for travel purposes. We take long vacations and have an upcoming 20 day cruise. I wanted a jewelry box that was compact enough to put in my carry-on bag, but still had room to hold a months worth of jewelry, especially to keep my necklaces for tangling. When this arrived, I was pleasantly surprised and the packaging was great, shipped in a sturdy box. so no damage to the jewelry box. The color is a rich gray and the 2 tier box, while small, holds a lot of jewelry. I wanted to purchase the ink black but could not justify paying twice the price of the gray one just to get it in black. It is small enough that it will fit in most any hotel/ship safe so I won't be sitting out in the room anyway. It has a strong magnetic snap that keeps the box from opening while in transit. The one negative for me is that the pierced earring card is so thick that my earrings barely go through to have enough room on the back side the slip the backs on. I may separate the double thick card, realizing it will not look as nice but will be more functional. The bottom half of the box will hold bracelets up to 1 1/4" wide. There is enough room under the earrings card to place pendants, additional earrings, etc. The necklace holder is designed to hold 5 necklaces, but I added one more by going across the top, end to end, to prevent tangling. I also placed smaller hoop earrings in the ring holder which holds them securely. This box held 7 bracelets, 2 of which were wide, 5 rings, 9 necklaces (I placed 3 in the bottom of the box, and had room for 23 pair of earrings (some placed in the ring holder and in the bottom of the bo)! I would buy this again in a heartbeat.
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Reviewed in the United States on April 10, 2025
★★★★★ 4
Nice jewelry box
The jewelry box is nicer than expected! Just wish it was a little bigger, but ok for traveling.
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Reviewed in the United States on June 20, 2025