Mobs, Messiahs, and Markets : Surviving the Public Spectacle in Finance and Politics
Shares the deeper secrets of investing and pushes you to question what this means for your financial well-being Explains why people so often abandon good sense and good behavior to "follow the crowd" Offers concrete advice on how you can avoid the "public spectacle" of modern finance The authors' cautionary tale of bubble economies reveals how the gush of credit let loose by Alan Greenspan has wreaked havoc on our lives-but their thoughtful and always entertaining approach also offers some sound investing principles for avoiding the pitfalls of the public spectacle, thinking for yourself, and protecting your money, your sanity, and your soul.
- Hardback | 432 pages
- 164 x 232 x 35mm | 648g
- 18 Sep 2007
- John Wiley & Sons Inc
- New York, United States
- 1. Auflage
- w. graphs.
Other books in this series
01 Jun 2010
08 Aug 2008
03 Apr 2012
31 Mar 2006
If an investor merely recognizes the way mob sentiment works, the authors point out, he is far ahead of most others. Ordinary people, for example, turn over billions of dollars' worth of their hard-earned money to brokers and mutual fund managers every day--immediate, tangible, personal money--believing that strangers will give them back even more. Whatever would make them think so?
Mobs, Messiahs, and Markets demonstrates that investors are in fact caught between a rock and a soft place--between the private world they can understand and master and the misleading public spectacle of the markets. "The further away you get from your investments, and the less you suffer the consequences if they go bad, the worse your performance will be," say Bonner and Rajiva. "That's why 'collective' investments like index-linked funds, mutual funds, hedge funds, insurance funds, and pension funds are usually so bad. The investors are too far from the facts--and the managers are too far from the consequences."
The authors' cautionary tale of the current bubble economy warns that the gush of credit let loose by Alan Greenspan is fraught with perils for the unwary--but their thoughtful and always entertaining approach also offers some sound investing principles for avoiding the pitfalls of the public spectacle, thinking for yourself, and protecting your money, your sanity, and your soul.
Back cover copy
"This book strikes at the center of conventional wisdom. It is brilliant, deep, and fun to read."
--Nicholas Nassim Taleb, author of the legendary investment classic, Fooled by Randomness, and the recent bestseller on probability, The Black Swan
"As fun to read as it is thought-provoking and filled with fascinating insights into how the world really works. It will teach you a proper skepticism as to what we are told by the mainstream media."
--John Mauldin, President, Millennium Wave Advisors, LLC author of the New York Times bestsellers, Bull's Eye Investing and Just One Thing
"Learn about Fed bubbles and make Ben Bernanke unhappy: read this book."
--Lew Rockwell, President, the Ludwig von Mises Institute
"A cock-eyed, frolicking hell of a read."
--Dr. Mark Skousen, Professor of Economics and Editor, The Worldly Philosophers
"I laughed aloud, I learned, and I was even offended. Behind the crafty writing, the authors share the deeper secrets of investing and push us to question what we believe. 'Think for yourself!' this book screams."
--Steve Sjuggerud, Editor, True Wealth, one of the world's most widely read investment letters
"Mobs, Messiahs, and Markets is one of the funniest and most entertaining books I have ever read. A classic for the student of the current period in history. If I had to name just one book investors should read, this is the one I would select."
--Dr. Marc Faber, world-famous contrarian guru, author of the bestseller, Tomorrow's Gold, and Editor of the maverick Gloom Boom & Doom Report
"Entertainingly and irreverently investigates the 'do-gooders' and 'world-improvers' who stir up mass hysteria, unjustified wars, and financial crises, while at the same time it warns readers how to better protect themselves and their pocketbooks."
--Ron Paul, Congressman and Presidential candidate
Table of contents
About Will Bonner