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Those who know don't tell and those who tell don't know.

Michael Lewis

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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Knowledge
Tell

More quotes by Michael Lewis

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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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The only thing history teaches us, a wise man once said, is that history doesn’t teach us anything.
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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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There's no point in arguing with partisan supporters. Their views are their identity. Nothing you can tell the most phlegmatic follower.
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When something happens people didn't predict, they find ways to explain it as if it were predictable.
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Everything, in retrospect, is obvious. But if everything were obvious, authors of histories of financial folly would be rich . . .
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A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.
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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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Book tours are almost designed to beat out of an author any affection he has for his book.
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What's fun is watching actors of that calibre bring them to life. It's incredible. Christian Bale spent a day with the character he plays and after my year of being with him I couldn't have generated the same view of him. They have a different way of looking at people, it's fascinating to watch.
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He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
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People don't like uncertainty, and their minds are tools for making sense of the world, even when the world is senseless.
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Looking into it a bit, Jamie found that the model used by Wall Street to price LEAPs, the Black-Scholes option pricing model, made some strange assumptions.
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Icelandic people are inbred. And they have a sense of themselves as genetically special, and a history of risk-taking because they make their living on the high seas fishing. Assets generally rose in value during this period, and so it looked like they actually knew what they were doing.
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My client loved risk. Risk, I had learned, was a commodity in itself. Risk could be canned and sold like tomatoes.
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All of a sudden the market is all about algos and routers.
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Even as late as the summer of 2006, as home prices began to fall, it took a certain kind of person to see the ugly facts and react to them-to discern, in the profile of the beautiful young lady, the face of an old witch.
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Time and space are absolute. Diseases are evil spirits that inhabit the body. Parallel lines never meet. The earth is the center of the universe. Children are miniature adults. At one time in history each of these beliefs was generally held to be true. Each, however, gave way to different ideas and even different world views.
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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.
Michael Lewis
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The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people who didn't use it.
Michael Lewis