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

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 no...