Arrogance Cycle: Think You Can'T Lose, Think Again - Hardcover

Farr, Michael

Hardcover

ISBN 10: 076276435X ISBN 13: 9780762764358

Publisher: Globe Pequot Press, 2011

Synopsis

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. The only problem was that it was all artificial. In The Arrogance Cycle, Farr examines the forces at work on individuals and markets and explains in clear, concise layman terms how we got to where we are.

About this title

About the Author

Michael Farr is President and majority owner of Farr, Miller & Washington, LLC. He is Chairman of the Investment Committee and is responsible for overseeing the day-to-day activities of the firm. Prior to founding FM&W, he spent six years with Alex. Brown & Sons where he was a Principal. He began his career in the financial industry at Wheat First Securities. In addition, Mr. Farr is a regular commentator and guest host for CNBC, CNN, Bloomberg, Reuters, and the Nightly Business Report. He is heard on Associated Press Radio, ABC Radio News, and National Public Radio. Mr. Farr is quoted regularly in the Wall Street Journal, Forbes, Fortune, Washington Post, USA Today, and many other publications. Mr. Farr is the Chairman of the Sibley Memorial Hospital Foundation. He also serves on the Board of Trustees at Sibley Hospital. His first book, A Million Is Not Enough was published in 2008

From the Back Cover

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 who breathed 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 K. Farr examines the forces at work on individuals and markets and explains in clear, concise layman’s terms how we got 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.

Farr reviews such failed enterprises as Enron, AIG, Lehman Brothers, and Bear Stearns and the illegal activities of Bernie Madoff and others through the lens of arrogance. By shedding light on those disasters, he 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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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 who breathed 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 K. Farr examines the forces at work on individuals and markets and explains in clear, concise layman&;s terms how we got 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.

Farr reviews such failed enterprises as Enron, AIG, Lehman Brothers, and Bear Stearns and the illegal activities of Bernie Madoff and others through the lens of arrogance. By shedding light on those disasters, he offers a means to detect the insidious presence of arrogance so that in the future we can contain the damage before it spreads.

From the Inside Flap

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 who breathed 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 K. Farr examines the forces at work on individuals and markets and explains in clear, concise layman’s terms how we got 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.

Farr reviews such failed enterprises as Enron, AIG, Lehman Brothers, and Bear Stearns and the illegal activities of Bernie Madoff and others through the lens of arrogance. By shedding light on those disasters, he offers a means to detect the insidious presence of arrogance so that in the future we can contain the damage before it spreads.

Edition details

• Publisher: Globe Pequot Press
• Publication date: 2011
• Language: English
• ISBN 10: 076276435X
• ISBN 13: 9780762764358
• Binding: Hardcover
• Number of pages: 256