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.
- Paperback | 256 pages
- 141 x 218 x 32mm | 480g
- 06 Oct 2009
- John Wiley & Sons Inc
- New York, United States
Other books in this series
01 Jun 2010
18 Sep 2007
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 and fun to read."
--Nassim Nicholas Taleb, author of Fooled by Randomness and The Black Swan
"As fun to read as it is thought-provoking and filled with fascinating insights into how the world really works."
--John Mauldin, President, Millennium Wave Advisors, LLC and author of 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 author of EconoPower
"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."
--Steve Sjuggerud, Editor of the investment newsletter True Wealth
"Mobs, Messiahs, and Markets is one of the funniest and most entertaining books I have ever read. If I had to name just one book investors should read, this is the one I would select."
--Dr. Marc Faber, contrarian guru, author of Tomorrow's Gold, and Editor of the 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, United States Congressman
Table of contents
.,."the recent market instability stemming out of subprime woes makes this book extremely timely." ("Gulf Business," February 2008)
""Mobs, Messiahs, and Markets" by William Bonner and Lila Rajiva is a fascinating work....downright hilarious...a serious look at an important phenomenon in the human condition."- Dr. Jonathan Dolhenty of the highly rated philosophy site, Radical Academy (Oct. 2007)
"a sharp-witted jaunt through the mass hysteria that's defined markets and people through the ages" -Money Week (Sept. 2007)
"William Bonner and Lila Rajiva provide the answers in this exhilarating -- if somewhat depressing -- book. Although their insights will often make readers laugh out loud, they will also find themselves wriggling uncomfortably at the manifold idiocies of human behaviour." -The National Post, Canada (Nov. 07)
"Extraordinary Popular Delusions and the Madness of Crowds by Charles MacKay would be a better choice to begin. Without that context for this book, you'll find yourself gobbling caviar without knowing what it is." - Donald Mitchell, author of The 2000 Percent Solution, December 18, 2007
"A fascinating book," - Alan Caruba in Book Views, December, 2007
"Mobs, Messiahs, and Markets is a tragi-comedy, full of sharp observations, delivered with equally sharp wit. This book's dark and disturbing revelations could leave one depressed and disillusioned, were it not so damn funny." -- Adam Bergen at Blog Critics, December 31, 2007
About Will Bonner