Mobs, Messiahs, and Markets: Surviving the Public Spectacle in Finance and Politics

by William Bonner, Lila Rajiva Narrated by Erik Synnestvedt

Overview

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 the dot-com mania to the real-estate bubble, people have always been caught up in frauds, conceits, and wild guesses - often with devastating results. Now Bonner and co-author Lila Rajiva show groupthink at work in an improbable array of instances throughout history and reveal why swimming against the current pays. They explain why people so often abandon good sense and good behavior to "follow the crowd" and show you how to avoid getting caught up in the public spectacles around you.
If an investor merely recognizes the way mob sentiment works, he is far ahead of others. Ordinary people turn billions of dollars worth of their hard-earned money over to brokers and fund managers daily, believing that these strangers will give them back even more. Why?
This audiobook 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 farther 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."

Editorial Reviews

From the Publisher

"…extremely timely…irreverent but thought-provoking examination of the goings on in international finance today… packs a serious punch." (The Independent)

"To say that this book is skeptical or contrarian is like saying Warren Buffett has money....entertaining criticism of anything and everything...I read the full 400 pages in just a few days.."-Rob May at Business Pundit (Top 10 business site) http://www.businesspundit.com/50226711/mobs_messiahs_and_markets.php(Nov. 2007)

"...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

Product Details

BN ID:	2940170347209
Publisher:	Ascent Audio
Publication date:	11/01/2007
Edition description:	Unabridged

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