{"product_id":"mobs-messiahs-and-markets-isbn-9780470112328","title":"Mobs, Messiahs, and Markets","description":"\u003cp\u003eAn insightful look at how to succeed by going \u003ci\u003eagainst\u003c\/i\u003e the crowd\u003c\/p\u003e \u003cp\u003eCollectively, 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 \u003ci\u003eMobs, Messiahs, and Markets,\u003c\/i\u003e 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.\u003c\/p\u003e \u003cul\u003e \u003cli\u003eShares the deeper secrets of investing and pushes you to question what this means for your financial well-being\u003c\/li\u003e \u003cli\u003eExplains why people so often abandon good sense and good behavior to \"follow the crowd\"\u003c\/li\u003e \u003cli\u003eOffers concrete advice on how you can avoid the \"public spectacle\" of modern finance\u003c\/li\u003e \u003c\/ul\u003e \u003cp\u003eThe 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.\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart One: A Critique of Impure Reason\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 1: Do-Gooders Gone Bad 3\u003c\/p\u003e \u003cp\u003eChapter 2: Love in the Time of Viagra 21\u003c\/p\u003e \u003cp\u003eChapter 3: The Transit of Venus 47\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Two: Witch Hunts and War Drums\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 4: The Devil Made Them Do It 75\u003c\/p\u003e \u003cp\u003eChapter 5: Words of War 98\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Three: Militant Messiahs\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 6: War and Remembrance 113\u003c\/p\u003e \u003cp\u003eChapter 7: Empire of Delusion 132\u003c\/p\u003e \u003cp\u003eChapter 8: Heroes of the Revolution 150\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Four: Flattening the Globe\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 9: The Number Game 185\u003c\/p\u003e \u003cp\u003eChapter 10: The Flat Earth Society 197\u003c\/p\u003e \u003cp\u003eChapter 11: What the Yonghy-Bonghy-Bo Didn’t Know 216\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Five: The Bubble Kings\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 12: Fin de Bubble 245\u003c\/p\u003e \u003cp\u003eChapter 13: The Million-Dollar Trailer 266\u003c\/p\u003e \u003cp\u003eChapter 14: Central Bank Bamboozle 280\u003c\/p\u003e \u003cp\u003eChapter 15: The Mother of the Mother of All Bubbles 296\u003c\/p\u003e \u003cp\u003e\u003cb\u003ePart Six: Far From the Madding Mob\u003c\/b\u003e\u003c\/p\u003e \u003cp\u003eChapter 16: How Not to Be Chumped by Wall Street 321\u003c\/p\u003e \u003cp\u003eChapter 17: The Dupe of Hearts 364\u003c\/p\u003e \u003cp\u003eNotes 391\u003c\/p\u003e \u003cp\u003eIndex 413\u003c\/p\u003e  \"…extremely timely…irreverent but thought-provoking examination of the goings on in international finance today… packs a serious punch.\" (\u003ci\u003eThe Independent\u003c\/i\u003e)  \u003cp\u003e\"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 \u003ci\u003eBusiness Pundit (Top 10 business site) http:\/\/www.businesspundit.com\/50226711\/mobs_messiahs_and_markets.php\u003c\/i\u003e(Nov. 2007)\u003c\/p\u003e \u003cp\u003e\"...the recent market instability stemming out of subprime woes makes this book extremely timely.\" (\u003ci\u003eGulf Business\u003c\/i\u003e, February 2008)\u003c\/p\u003e \u003cp\u003e\"\u003ci\u003eMobs, Messiahs, and Markets\u003c\/i\u003e 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)\u003c\/p\u003e \u003cp\u003e\"a sharp-witted jaunt through the mass hysteria that’s defined markets and people through the ages\" -Money Week (Sept. 2007)\u003c\/p\u003e \u003cp\u003e\"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)\u003c\/p\u003e \u003cp\u003e\"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\u003c\/p\u003e \u003cp\u003e\"A fascinating book,\" - Alan Caruba in Book Views, December, 2007\u003c\/p\u003e \u003cp\u003e\"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\u003c\/p\u003e  \u003cp\u003e\u003cb\u003eWILLIAM (BILL) BONNER\u003c\/b\u003e is President and CEO of Agora Inc., one of the world’s largest financial newsletter companies (www.agorafinancial.com). He is the creator of the \u003ci\u003eDaily Reckoning,\u003c\/i\u003e a contrarian financial newsletter (www.dailyreckoning.com). Bonner is also the author, with Addison Wiggin, of the international bestsellers \u003ci\u003eFinancial Reckoning Day\u003c\/i\u003e and \u003ci\u003eEmpire of Debt\u003c\/i\u003e. \u003c\/p\u003e\u003cp\u003e\u003cb\u003eLILA RAJIVA\u003c\/b\u003e is a political journalist and the author of \u003ci\u003eThe Language of Empire\u003c\/i\u003e, a groundbreaking study of the media coverage of the Abu Ghraib prison scandal. She is a contributor to Agora Financial(www.agorafinancial.com) and the creator of the blog, \u003ci\u003eThe Mind-Body Politic\u003c\/i\u003e (www.lilarajiva.com).   \u003c\/p\u003e\u003cp\u003eCollectively, 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. In \u003ci\u003eMobs, Messiahs, and Markets\u003c\/i\u003e, 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. 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.  \u003c\/p\u003e\u003cp\u003eIf 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, \u003ci\u003epersonal\u003c\/i\u003e money—believing that strangers will give them back even more. Whatever would make them think so? \u003c\/p\u003e\u003cp\u003e\u003ci\u003eMobs, Messiahs, and Markets\u003c\/i\u003e 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.” \u003c\/p\u003e\u003cp\u003eThe 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.\u003c\/p\u003e","brand":"Wiley","offers":[{"title":"Default Title","offer_id":47989634433253,"sku":"NP9780470112328","price":27.95,"currency_code":"USD","in_stock":false}],"thumbnail_url":"\/\/cdn.shopify.com\/s\/files\/1\/1842\/7735\/files\/9780470112328.jpg?v=1761784896","url":"https:\/\/k12savings.com\/products\/mobs-messiahs-and-markets-isbn-9780470112328","provider":"K12savings","version":"1.0","type":"link"}