Avoiding the Arrogance Cycle

What Every Investor Needs To Know To Protect Their Assets From The Next Big Bubble

Business & Finance, Finance & Investing, Banks & Banking, Business Reference, Corporate History, Investments & Securities
Cover of the book Avoiding the Arrogance Cycle by Michael Farr, Lyons Press
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Author: Michael Farr ISBN: 9780762768172
Publisher: Lyons Press Publication: November 20, 2012
Imprint: Lyons Press Language: English
Author: Michael Farr
ISBN: 9780762768172
Publisher: Lyons Press
Publication: November 20, 2012
Imprint: Lyons Press
Language: English

What is the arrogance cycle? We’ve just lived through it. As market bubbles build, our confidence level rises (dis)proportionately. Everyone wants in on the action. We want to believe Wall Street, and once we do, the inevitable happens. Like Dr. Frankenstein breathing life into inanimate flesh, investment professionals sought ever more novel ways to create wealth. The only problem was that it was all artificial. In this book**,** Michael Farr examines the forces at work on individuals and markets and explains in clear, concise, layman’s terms how we got to where we are.

Farr focuses on individual factors—such as rampant consumerism, a sense of entitlement, narcissism, resentment toward the upper class—that combined to create the perfect economic storm. By consulting with leading psychologists and relaying first-hand experience with investment clients, he provides a case study of the arrogant investor. In reviewing failed enterprises like Enron, AIG, Lehman Brothers, and Bear Stearns, as well as the illegal activities of Bernie Madoff and others through the lens of arrogance, the book sheds light on those disasters and offers a means to detect the insidious presence of arrogance so that in the future we can contain the damage before it spreads.

View on Amazon View on AbeBooks View on Kobo View on B.Depository View on eBay View on Walmart

What is the arrogance cycle? We’ve just lived through it. As market bubbles build, our confidence level rises (dis)proportionately. Everyone wants in on the action. We want to believe Wall Street, and once we do, the inevitable happens. Like Dr. Frankenstein breathing life into inanimate flesh, investment professionals sought ever more novel ways to create wealth. The only problem was that it was all artificial. In this book**,** Michael Farr examines the forces at work on individuals and markets and explains in clear, concise, layman’s terms how we got to where we are.

Farr focuses on individual factors—such as rampant consumerism, a sense of entitlement, narcissism, resentment toward the upper class—that combined to create the perfect economic storm. By consulting with leading psychologists and relaying first-hand experience with investment clients, he provides a case study of the arrogant investor. In reviewing failed enterprises like Enron, AIG, Lehman Brothers, and Bear Stearns, as well as the illegal activities of Bernie Madoff and others through the lens of arrogance, the book sheds light on those disasters and offers a means to detect the insidious presence of arrogance so that in the future we can contain the damage before it spreads.

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