While I think John Cassidy's [b:How Markets Fail: The Logic of Economic Calamities|6691186|How Markets Fail The Logic of Economic Calamities|John Cassidy|https://images.gr-assets.com/books/1442955895s/6691186.jpg|6886629] is more accessible, this book definitely covers more ground. I think anyone planning on reading this book, though, might do better to start with [b:The Undoing Project: A Friendship That Changed Our Minds|30334134|The Undoing Project A Friendship That Changed Our Minds|Michael Lewis|https://images.gr-assets.com/books/1464874845s/30334134.jpg|50830817] by Michael Lewis, because an understanding of Prospect Theory and Behavioral Economics would go a long way to understanding why the Efficient Market Hypothesis is based on false premises (the biggest false premise being the belief in rational actors). While the Efficient Market Hypothesis is an important and usable model for equities, and this book does make sure to emphasize that, it is a limited model that is not always correct. In fact, when it is wrong, it is very wrong. In the end, attempts to beat the market will always fail. More importantly: efforts to beat the market by creating new derivatives or other financial products will always lead to financial disaster.