This book investigates the disconnect between academic financial theory and the practical realities of corporate management, arguing that many conventional financial practices are based on flawed assumptions. Louis Lowenstein, a professor of finance and law, utilizes his extensive background in legal and financial analysis to critique standard corporate behaviors. He challenges the prevailing wisdom regarding leveraged buyouts, capital budgeting, and dividend policies, suggesting that these practices often prioritize short-term gains over long-term corporate health and shareholder value.

Experts and practitioners frequently cite this work as a necessary counterpoint to standard textbook approaches in corporate finance. Readers often note the author's ability to translate complex financial theory into accessible, critical prose that encourages skepticism toward conventional market wisdom.