What is the arrogance cycle? Weve 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, laymans terms how we got to where we are.Farr focuses onindividual factorssuch asrampant consumerism, a sense of entitlement, narcissism, resentment toward the upper classthat combined to create the perfect economic storm. By consulting with leading psychologists andrelaying first-hand experience with investment clients, heprovides acase study of the arrogant investor....
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