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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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There's something bad in everything good and something good in everything bad.
Michael Lewis
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When an American declares bankruptcy, when he hits bottom, he can reinvent himself. There's a story he can tell. We tolerate reinvention. We encourage reinvention. That's what this country has that Europe does not. It's not just a crisis it's an opportunity.
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Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient, Said Palmer. The pain of looking bad is worse than the gain of making the best move.
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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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People dislike uncertainty so much that they will impose an order on it even when it doesn't exist.
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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.
Michael Lewis
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Like Adam, formed from clay, children are formed from the biological material of which they are made or by the hands of their parents.
Michael Lewis
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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.
Michael Lewis
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All of a sudden the market is all about algos and routers.
Michael Lewis
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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.
Michael Lewis
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I'd stumbled into a job at Salomon Brothers in 1985, and stumbled out, richer, in 1988, and even though I wrote a book about the experience, the whole thing still strikes me me as totally preposterous-which is one reason the money was so easy to walk away from.
Michael Lewis
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When something happens people didn't predict, they find ways to explain it as if it were predictable.
Michael Lewis
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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.
Michael Lewis
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A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their clients' money on to people who, as a whole, cannot possibly outperform the market.
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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.
Michael Lewis
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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.
Michael Lewis
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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.
Michael Lewis
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He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
Michael Lewis
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I confess some part of me thought, If only I'd stuck around, this is the sort of catastrophe I might have created.
Michael Lewis
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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.
Michael Lewis