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Too smart for our own good : ingenious investment strategies, illusions of safety, and market crashes

Author: Bruce I Jacobs
Publisher: New York : McGraw-Hill Education, [2018]
Edition/Format:   Print book : EnglishView all editions and formats
Summary:
"Leading financial thinker and successful funds manager Bruce I. Jacobs reveals how markets crash as the result of investment strategies that purport to reduce risk but that ultimately backfire. Are financial crises really "perfect storms" or are they the result of investment strategies that create an illusion of safety? Too Smart for Our Own Good reveals how investors invariably fall for investment strategies that
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Document Type: Book
All Authors / Contributors: Bruce I Jacobs
ISBN: 9781260440546 1260440540
OCLC Number: 1032674241
Description: xv, 440 pages : illustrations ; 24 cm
Contents: ExhibitsAcknowledgmentsIntroduction: Creating Financial StormsPart IChapter 1: Reducing RiskPart IIChapter 2: Black Monday 1987Chapter 3: Replicating OptionsChapter 4: Portfolio Insurance and Futures MarketsChapter 5: Portfolio Insurance and the CrashChapter 6: After the 1987 Crash--OptionsPart IIIChapter 7: Options, Hedge Funds, and the Volatility of 1998Chapter 8: Long-Term Capital ManagementChapter 9: Long-Term Capital Management PostmortemPart IVChapter 10: The Credit Crisis Recession, 2007-2009Chapter 11: Blowing BubblesChapter 12: Weapons of Mass DestructionChapter 13: Securitization and the Housing BubbleChapter 14: Securitization and the Credit CrisisPart VChapter 15: After the Storm, 2010-2018Chapter 16: The European Debt CrisisChapter 17: Illusions of Safety and Market MeltdownsChapter 18: Taming the TempestAppendix A: Foreshadowing the Crises: The Crash of 1929Appendix B: Primer on Bonds, Stocks, and DerivativesAppendix C: The Debate on Portfolio InsuranceAppendix D: Derivatives Disasters in the 1990s Appendix E: Bruce Jacobs's Research Objectivity Standards ProposalAcronymsGlossaryEndnotesBibliographyIndex
Responsibility: Bruce I. Jacobs.

Abstract:

"Leading financial thinker and successful funds manager Bruce I. Jacobs reveals how markets crash as the result of investment strategies that purport to reduce risk but that ultimately backfire. Are financial crises really "perfect storms" or are they the result of investment strategies that create an illusion of safety? Too Smart for Our Own Good reveals how investors invariably fall for investment strategies that offer illusory promises of higher returns and protection from losses, but end in greater risk for markets and the economy. The book examines the influence of such strategies on the 1987 stock market crash, the 1998 collapse of hedge fund Long-Term Capital Management, and the 2007-2008 credit crisis. Investors who are aware of the common threads that connect these market disruptions can avoid the mistakes of the past and anticipate future market crises. The book provides a "behind the curtain" look at the investment approaches and instruments that caused several recent financial crises"--

"How to invest safely and smartly, while avoiding the pitfalls that many people run into"--

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"Jacobs' book is a thoughtful review of the incidents it covers, making vivid some matters which have faded a bit in history, and giving context to matters that remain all too vivid."--Christopher Read more...

 
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