Problem diagram.
Black's response to White's marked play.

Source:
American Go Journal, Vol. 20, No. 1, 1986, pp. 12-13
The Five Worst Moves of 1986 , by Kageyama Toshiro

Solution follows    (or click here to download SGF)

Correct.
If Black is aiming for a pincer, then the immediate play at 1 is simple and OK, especially given that this game starts with a 3 stone handicap! Black has effective responses to a White attack against the upper left corner.

Needlessly complicated.
If Black already had another stone extending down the side, e.g., a 1-space jump from the handicap point, then this play at 1 along with the follow up pincer on the top right would have been perfect for Black.

But Black 1 forces White to strengthen himself with 2. Now expanding to the right or attacking Black's corner is miai for White. After Black pincers with 3, White 4 launches a counterattack. Black's problems have begun.

Up to White 10 is a joseki. Black has taken nice corner territory, but White's formation is already solidly connected and radiates power outward. Given the whole board situation, Black is better in the main line above.

White variation.
In the game, White actually made an overplay with 6 to see what Black would do. Instead of making the best of the situation by counterattacking with a splitting atari on the 5-5 point, Black submissively protects the corner with 7. But White's pull back with 8 leaves Black with a relatively small and isolated corner, while White again has a safe group that radiates power outward. Black's overly submissive play is just what White wants.

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