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He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
Michael Lewis
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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Overcame
Unconventional
Upbringing
Conventional
Blessed
Middle
Class
Mind
More quotes by Michael Lewis
In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.
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I didn't think one day something would happen that would bring me back to Wall Street to write what is essentially a sequel.
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If you had to point to one thing that made it less likely that the Red Sox would win the World Series, I would say it was those people that go to Fenway Park to watch the games. And then the media around it.
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The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really address the incentives, the system is still dysfunctional and there are still behavioural issues that need to be addressed.
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People dislike uncertainty so much that they will impose an order on it even when it doesn't exist.
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It is the nature of being the general manager of a baseball team that you have to remain on familiar terms with people you are continually trying to screw.
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All that was clear that the profits to be had from smart people making complicated bets overwhelmed anything that could be had from servicing customers, or allocating capital to productive enterprise.
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The sentimentality of baseball is very deeply rooted in the American baseball fan. It is the one sport that is transmitted from fathers to sons.
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The Germans made just about every bad investment you could have made in the last 10 years. They invested in Icelandic banks. They invested in Greek government bonds. They were heavy into Irish banks, big into Irish banks, and they bought U.S. subprime mortgage bonds.
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In Wall Street now, you have to hide what you're doing. It's more fun when you don't have to do that. But I don't think its sense of purpose has changed at all.
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He's a machine for competitive balance, ... Yes, the money is in New York. Yes, the money is in his hands. But he squanders money. Thank God for it.
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My characters are actually usually pretty smart and admirable.
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All of a sudden the market is all about algos and routers.
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The big Wall Street firms, seemingly so shrewd and self-interested, had somehow become the dumb money. The people who ran them did not understand their own businesses, and their regulators obviously knew even less.
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That's what happens when you're thirty-seven years old: you do the things you always did but the result is somehow different.
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Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.
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As idiotic as optimism can sometimes seem, it has a weird habit of paying off.
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My judgement is not good when I am on a book tour. I am not thinking about it that much. What happens is I will go back home. I have a 4-year-old and a 1-year-old and a wife who is now taking care of them who is wondering where her husband is.
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You can anchor the mind into answering a question a certain way by giving them a totally unrelated piece of information dropped before.
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Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud.
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