Quote

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

Change background

T
T
T

Change font

TAGS & TOPICS

Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Saying
Probably
Warren
Unaware
Fond
Market
Fool
Player

More quotes by Michael Lewis

Image
The only thing history teaches us, a wise man once said, is that history doesn’t teach us anything.
Michael Lewis
Image
It's such a pain in the ass to write a book, I can't imagine writing one if I'm not interested in the subject.
Michael Lewis
Image
Those who know don't tell and those who tell don't know.
Michael Lewis
Image
There's something bad in everything good and something good in everything bad.
Michael Lewis
Image
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.
Michael Lewis
Image
People dislike uncertainty so much that they will impose an order on it even when it doesn't exist.
Michael Lewis
Image
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
Image
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.
Michael Lewis
Image
I was gonna put him on the bus...I got tired of him talking, it was time for him to go home.
Michael Lewis
Image
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.
Michael Lewis
Image
In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
Michael Lewis
Image
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.
Michael Lewis
Image
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
Image
I thought instead of a good rule for survival on Wall Street: Never agree to anything proposed on someone else's boat or you'll regret in in the morning.
Michael Lewis
Image
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
Image
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.
Michael Lewis
Image
There has been this - and it's reflected in the broadcasts - this moronic use of statistics. Which has suggested to everyone who is intelligent the use of statistics is moronic.
Michael Lewis
Image
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.
Michael Lewis
Image
My client loved risk. Risk, I had learned, was a commodity in itself. Risk could be canned and sold like tomatoes.
Michael Lewis
Image
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