An insightful look at how to succeed by going against the crowd
Collectively, people think and act in ways that are different from how
they think and act as individuals. Understanding these differences, says
William (Bill) Bonner-a longtime maverick observer of the financial
world and the vagaries of the investing public-is vital to preserving
your wealth and personal dignity. From the witch-hunts of the early
modern world to the war on terror, from dot-com mania to the real estate
bubble, people have always been caught up in frauds, conceits, and wild
guesses-often with devastating results. In Mobs, Messiahs, and
Markets, Bonner and coauthor Lila Rajiva show groupthink at work in an
improbable array of instances throughout history and reveal why swimming
against the current pays.
- 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.
