Bruce Jacobs sifts through the history of modern finance, from the efficient market hypothesis to behavioral psychology and chaos theory, to determine the cause of recent market crashes.



Includes a Foreword from Nobel Laureate Harry M. Markowitz.
Showcases the expertise of an author who identified and predicted the causes of 1987, 1997 and 1998 crashes.
Explains the risks of little-understood option replication.
Offers chapter summaries, appendices and a glossary.