Mobs, Messiahs, and Markets

  • by William Bonner, Lila Rajiva
  • Narrated by Erik Synnestvedt
  • 13 hrs and 28 mins
  • Unabridged Audiobook

Publisher's Summary

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."

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What the Critics Say

"Entertainingly and irreverently investigates the "do-gooders" and "world-improvers" who stir up mass hysterias, unjustified wars and financial crises, while at the same time it warns readers how to better protect themselves and their pocketbooks." (Ron Paul, U.S. congressman and presidential candidate)
"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. 'Think for yourself!' this book screams." (Steve Sjuggerud, editor, True Wealth investment newsletter)

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Customer Reviews

Most Helpful

Great, Witty, Thought Provoking Audio

I laughed out loud and thoroughly enjoyed listening to this enlightening audio, about a very serious subject. The authors give a great lesson in market behavior and how we as investors can protect ourselves. It's a wonderful listen.
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- morton

Not worth the time

As I near my 100th audio book I have listened all the way through to all but one. This will probably be the second I do not finish. Too bad, the basic premise has potential. Somewhere about disk three it has degraded to fancy language about how stupid mankind is (there are some special people singled out for special criticism). Still in all the dribble about how we can never really know anything the author apparently knows everything. I keep waiting for him to tell us what it is he knows, but there is just more and more about how stupid we are as a society (and how particular leaders and journalists are particularly stupid). If you are one of the people who views George Bush as evil personified there may be enough Bush bashing in this book to keep you interested, otherwise download something else. I will continue to endure for 3 more disks if it improves I will get back. Still there is so much great stuff on audible that in comparison this is one that is not worth your time.
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- Sierra Bravo

Book Details

  • Release Date: 11-19-2007
  • Publisher: Gildan Media, LLC