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.