The author examines the careers of the most distinguished disciples of the Theosophical Masters. He begins by examining the concept of initiation promoted by the Theosophical movement's founders. Each section investigates a separate category of initiates, focusing consecutively on Hindus, Muslims, Bahais, Buddhists, and the Western female occultists.

More than just a study of Theosophy, this book explores many related developments in political and religious history. Among the figures it illumines in new ways are Anagarika Dharmapala, Alexandra David-Neel, George Ivanovitch Gurdjieff, and Isabelle Eberhardt. Its approach brings needed objectivity and balance to a topic too long mythologized by cultists and ignored by scholars.