Mobs, Messiahs, and Markets
Surviving the Public Spectacle in Finance and PoliticsBook - 2007
An insightful look at how to succeed by going against thecrowd
Collectively, people think and act in ways that are differentfrom how they think and act as individuals. Understanding thesedifferences, says William (Bill) Bonner-a longtime maverickobserver of the financial world and the vagaries of the investingpublic-is vital to preserving your wealth and personal dignity.From the witch-hunts of the early modern world to the war onterror, from dot-com mania to the real estate bubble, people havealways been caught up in frauds, conceits, and wild guesses-oftenwith devastating results. In Mobs, Messiahs, and Markets, Bonner and coauthor Lila Rajiva show groupthink at work in animprobable array of instances throughout history and reveal whyswimming against the current pays.Shares the deeper secrets of investing and pushes you toquestion what this means for your financial well-being Explains why people so often abandon good sense and goodbehavior to "follow the crowd" Offers concrete advice on how you can avoid the "publicspectacle" of modern finance
The authors' cautionary tale of bubble economies reveals how thegush of credit let loose by Alan Greenspan has wreaked havoc on ourlives-but their thoughtful and always entertaining approach alsooffers some sound investing principles for avoiding the pitfalls ofthe public spectacle, thinking for yourself, and protecting yourmoney, your sanity, and your soul.