The Arrogance Cycle
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. This book examines the forces at work on individuals and markets and explains in clear, concise layman terms how we got to where we are.
Praise for The Arrogance Cycle
"Michael K. Farr’s The Arrogance Cycle is not just a valuable story about investing today, but also lessons and principles rooted in human history that portend to how we live and life’s outcome. Indeed, if our generation leaves our kids with this country’s deficit, we will justifiably be judged history’s most arrogant."
— Michael Armstrong, former Chairman and CEO AT&T
"Michael Farr is one of the smartest people I know, and in The Arrogance Cycle, he’s put forward a terrifying thesis: Markets aren’t always as rational as we assume. What can you do to protect yourself? Read it. This is a genuinely deep book."
— Tucker Carlson
“The Arrogance Cycle is a must-read cautionary tale. The book provides important insights into not just how to be a better investor but, more importantly, the value of humility as a
human virtue.”
— Robert S. Silberman, Chairman and CEO, Strayer University