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Are Investors Fleeced Like Sheep?

Michael Covel, who founded, has produced a provocative documentary on why the financial crisis cost the typical American so much money.


Broke blames the herd mentality that seems to motivate so many investment decisions and uses some unflattering comparisons with sheep to make the point.

If everyone’s buying expensive homes with exotic loans, I should too. Or if everyone is jumping into a stock Jim Cramer touts on CNBC I don’t want to miss out on the action. Or if my mutual fund says I should “buy and hold” then that’s what I’ll do.

Indeed, the herd is driven by powerful forces in media and finance that profit from the advice and investments they sell, but have no real stake in the herd’s success.

No wonder, Covel says, “we all seem to make the wrong decisions.”

We thought it was well worth $19.99 for the DVD.

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