Too Smart For Her Own Good

A groundbreaking work explaining our ecological predicament in the context of the first scientific theory of humankind's development.

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.

Everyone talks about style, but no one explains it. The authors of this book do; and in doing so, they provoke the reader to consider style, not as an elegant accessory of effective prose, but as its very heart. At a time when writing skills have virtually disappeared, what can be done? If only people learned the principles of verbal correctness, the essential rules, wouldn't good prose simply fall into place? Thomas and Turner say no. Attending to rules of grammar, sense, and sentence structure will no more lead to effective prose than knowing the mechanics of a golf swing will lead to a hole-in-one. Furthermore, ten-step programs to better writing exacerbate the problem by failing to recognize, as Thomas and Turner point out, that there are many styles with different standards. In the first half of Clear and Simple, the authors introduce a range of styles--reflexive, practical, plain, contemplative, romantic, prophetic, and others--contrasting them to classic style. Its principles are simple: The writer adopts the pose that the motive is truth, the purpose is presentation, the reader is an intellectual equal, and the occasion is informal. Classic style is at home in everything from business memos to personal letters, from magazine articles to university writing. The second half of the book is a tour of examples--the exquisite and the execrable--showing what has worked and what hasn't. Classic prose is found everywhere: from Thomas Jefferson to Junichirō Tanizaki, from Mark Twain to the observations of an undergraduate. Here are many fine performances in classic style, each clear and simple as the truth. Originally published in 1994. The Princeton Legacy Library uses the latest print-on-demand technology to again make available previously out-of-print books from the distinguished backlist of Princeton University Press. These editions preserve the original texts of these important books while presenting them in durable paperback and hardcover editions. The goal of the Princeton Legacy Library is to vastly increase access to the rich scholarly heritage found in the thousands of books published by Princeton University Press since its founding in 1905.

From the moment the Bad Fairy Malevola utters a curse that makes Princess Melisande bald, hair - either too little or too much - becomes the bane of the poor girl's existence. Only Prince Florizel, it seems, can untangle her fate.

An entertaining illumination of the stupid beliefs that make us feel wise. You believe you are a rational, logical being who sees the world as it really is, but journalist David McRaney is here to tell you that you're as deluded as the rest of us. But that's OK- delusions keep us sane. You Are Not So Smart is a celebration of self-delusion. It's like a psychology class, with all the boring parts taken out, and with no homework. Based on the popular blog of the same name, You Are Not So Smart collects more than 46 of the lies we tell ourselves everyday, including: Dunbar's Number - Humans evolved to live in bands of roughly 150 individuals, the brain cannot handle more than that number. If you have more than 150 Facebook friends, they are surely not all real friends. Hindsight bias - When we learn something new, we reassure ourselves that we knew it all along. Confirmation bias - Our brains resist new ideas, instead paying attention only to findings that reinforce our preconceived notions. Brand loyalty - We reach for the same brand not because we trust its quality but because we want to reassure ourselves that we made a smart choice the last time we bought it. Packed with interesting sidebars and quick guides on cognition and common fallacies, You Are Not So Smart is a fascinating synthesis of cutting-edge psychology research to turn our minds inside out.

The beloved bestselling collection of common sense wisdom from a celebrated psychologist and military veteran who proves it's never too late to move beyond the deepest of personal losses After service in Vietnam, as a surgeon for the 11th Armored Cavalry Regiment in 1968-69, at the height of the war, Dr. Gordon Livingston returned to the U.S. and began work as a psychiatrist. In that capacity, he has listened to people talk about their lives--what works, what doesn't, and the limitless ways (many of them self-inflicted) that people find to be unhappy. He is also a parent twice bereaved; in one thirteen-month period he lost his eldest son to suicide, his youngest to leukemia. Out of a lifetime of experience, Gordon Livingston has extracted thirty bedrock truths, including: We are what we do. Any relationship is under the control of the person who cares the least. The perfect is the enemy of the good. Only bad things happen quickly. Forgiveness is a form of letting go, but they are not the same thing. The statute of limitations has expired on most of our childhood traumas. Livingston illuminates these and twenty-four other truths in a series of carefully hewn, perfectly calibrated essays, many of which focus on our closest relationships and the things that we do to impede or, less frequently, enhance them. Again and again, these essays underscore that "we are what we do," and that while there may be no escaping who we are, we have the capacity to face loss, misfortune, and regret and to move beyond them--that it is not too late. Full of things we may know but have not articulated to ourselves, Too Soon Old, Too Late Smart offers solace, guidance, and hope to everyone ready to become the person they'd most like to be.

In his classic book, The Five Dysfunctions of a Team, Patrick Lencioni laid out a groundbreaking approach for tackling the perilous group behaviors that destroy teamwork. Here he turns his focus to the individual, revealing the three indispensable virtues of an ideal team player. In The Ideal Team Player, Lencioni tells the story of Jeff Shanley, a leader desperate to save his uncle’s company by restoring its cultural commitment to teamwork. Jeff must crack the code on the virtues that real team players possess, and then build a culture of hiring and development around those virtues. Beyond the fable, Lencioni presents a practical framework and actionable tools for identifying, hiring, and developing ideal team players. Whether you’re a leader trying to create a culture around teamwork, a staffing professional looking to hire real team players, or a team player wanting to improve yourself, this book will prove to be as useful as it is compelling.