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Markets, Mobs & Mayhem: How to Profit From the Madness of Crowds
In this fascinating tour through cultural, global, economic, and business history, icon of the financial world Robert Menschel explores the phenomenon of crowd psychology and its effects on business and culture. Explaining how crowd psychology creates market bubbles and irrational exuberance, Menschel mines world history—from the rise of the Nazis in Germany, to the fanatical love of brands, to the Dutch tulip craze of the seventeenth century, to America’s 1990s Internet bubble—to reveal how the behavior of crowds negatively affects the business world. Championing the causes of individuality and common sense, Markets, Mobs & Mayhem offers real wisdom for investors who want to keep their wits when everyone else is losing theirs.
226 pages, Paperback
First published August 30, 2002
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Displaying 1 - 12 of 12 reviews
December 20, 2017
SO LONG AS EVERYONE IN A CROWD WAITS HIS TURN THINGS ARE FINE, BUT LET ONE PERSON BREAK FROM THE QUEU AND BEGIN ACTION ON HIS OWN AND OTHERS ARE CERTAIN TO FOLLOW IN A MOUNTING CRASH.
In a crowd individual will can weaken.
In an epidemic the present moment feels like the only one.
The more certain the crowd is, the surer it is to be wrong. If everyone were right, there would be no reward.
Evaluate every rumour and suggestion on its own merits, not by the rank of the authority from which it flows.
Temperance - eat not to dullness more drink to elevation.
Silence - only speak when you may benefit others or yourself, don't waste words.
In a crowd, we else our individual identity; made anonymous. We gain a license to be something else entirely.
If a person is in a crowd for some length of time, he loses his will and discernment and becomes one of the crowd.
In a crowd individual will can weaken.
In an epidemic the present moment feels like the only one.
The more certain the crowd is, the surer it is to be wrong. If everyone were right, there would be no reward.
Evaluate every rumour and suggestion on its own merits, not by the rank of the authority from which it flows.
Temperance - eat not to dullness more drink to elevation.
Silence - only speak when you may benefit others or yourself, don't waste words.
In a crowd, we else our individual identity; made anonymous. We gain a license to be something else entirely.
If a person is in a crowd for some length of time, he loses his will and discernment and becomes one of the crowd.
September 25, 2018
A newer take on Charles Mackay's earlier book: "Extraordinary Popular Delusions, and the Madness of Crowds". The book mostly rehashes the topics covered in the earlier book with a few modern examples of mob mentality, trends, and hysteria. No breaking ground is covered within these pages. Overall, this book rates a "meh." from me.
December 7, 2021
Easy and clear reading. Is going to help you understand why markets panic and how to profit from them as I have with many equities.
It made me want to study sociology after this reading. So interesting to see how the collective is easily manipulated, something we, the readers can use in out favor
It made me want to study sociology after this reading. So interesting to see how the collective is easily manipulated, something we, the readers can use in out favor
Read
July 9, 2019nice
April 8, 2020
It is a good compilation of stories, images, and dates. In addition, it has a pleasant reading and good learnings.
May 3, 2021
Good covering group behavior and how individual behavior is lost translating into something else when in acting as a Mob.
Wide coverage of group behavior from markets, witchcraft, genocides etc.
Wide coverage of group behavior from markets, witchcraft, genocides etc.
December 23, 2014
I found this book frustrating. It is an interesting collection of articles, quotes, photos and cartoons related to the theme of the 'madness' of crowds, including many examples ranging from the famous ((he French Revolution, the 1929 stock market crash) to the little known. It was well researched, and many of the articles are first-hand accounts of the 'madness' as it unfolds. However, many of the accounts are too short and give us only a frustratingly brief taste of the 'madness'. The syle is very 'bitty' and I found the numerous quotes and illustrations more distracting than informative.
Most importantly, this book was not what I wanted or expected, namely a detailed analysis or explanation of what makes crowds turn 'mad'. It is merely a collection of examples with only a few pages devoted to drawing the information together (presented as advice on 'keeping your head when all about you are losing theirs').
Most importantly, this book was not what I wanted or expected, namely a detailed analysis or explanation of what makes crowds turn 'mad'. It is merely a collection of examples with only a few pages devoted to drawing the information together (presented as advice on 'keeping your head when all about you are losing theirs').
July 4, 2014
Intermittently interesting or disturbing but overly repetitive and with little attempt are real insight—why do we behave this way, what evolutionary or other mechanism accounts for it and what might be done about it?
There is no index and, though the text is mostly assembled out of quotations, the main sources are listed alphabetically at the end without being keyed to the main text. Sources out of copyright are not listed; so if for instance I want to track down the quote about the Children's Crusade that appears on page 66, I'm out of luck.
There is no index and, though the text is mostly assembled out of quotations, the main sources are listed alphabetically at the end without being keyed to the main text. Sources out of copyright are not listed; so if for instance I want to track down the quote about the Children's Crusade that appears on page 66, I'm out of luck.
January 10, 2009
INVESTMENT
I good read about previous tough times and an explanation of a long time trader (Now with Goldman (haha))of mass psychology.
I firmly believe his premise that markets always go to excess on the upside and the downside - not because of logic - but because of human behaviour.
An easy read...particularly in the 'ponzi Madoff' era...which is only the tip of the iceberg. This book explains that people like to get rooked...even if they are very brainy and rich.
I good read about previous tough times and an explanation of a long time trader (Now with Goldman (haha))of mass psychology.
I firmly believe his premise that markets always go to excess on the upside and the downside - not because of logic - but because of human behaviour.
An easy read...particularly in the 'ponzi Madoff' era...which is only the tip of the iceberg. This book explains that people like to get rooked...even if they are very brainy and rich.
February 9, 2009
A collection of writings on mania, panics and other mob behavior... intriguing & lucidly put together.
April 2, 2014
Top 5 for behavioral investing
Read
December 7, 2009Watch out when the crowds get wild.Keep cool head and exercise prudence and ssensibility
Displaying 1 - 12 of 12 reviews