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Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.
Michael Lewis
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Michael Lewis
Age: 63
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Market
Fool
Player
Saying
Probably
Warren
Unaware
Fond
More quotes by Michael Lewis
Yet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.
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Girls tend to attribute their failures to factors such as lack of ability, while boys tend to attribute failure to specific factors, including teachers' attitudes. Moreover, girls avoid situations in which failure is likely, whereas boys approach such situations as a challenge, indicating that failure differentially affects self-esteem.
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There's a certain status to suffering in Ireland, that the person who - if you're sitting around a table, the person with the greatest status is the person who had the most horrible thing happen to them most recently.
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I was gonna put him on the bus...I got tired of him talking, it was time for him to go home.
Michael Lewis
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.
Michael Lewis
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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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.
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All of a sudden the market is all about algos and routers.
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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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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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Baseball is this intense subculture that actually doesn't speak very much for the larger culture.
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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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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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He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
Michael Lewis
The sheer quantity of brain power that hurled itself voluntarily and quixotically into the search for new baseball knowledge was either exhilarating or depressing, depending on how you felt about baseball. The same intellectual resources might have cured the common cold, or put a man on Pluto.
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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
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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Baseball has so much history and tradition. You can respect it, or you can exploit it for profit, but it's still being made all over the place, all the time.
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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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Like Adam, formed from clay, children are formed from the biological material of which they are made or by the hands of their parents.
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