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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

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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Everyone
Use
Broadcasts
Moronic
Suggested
Reflected
Statistics
Intelligent

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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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In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
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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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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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I confess some part of me thought, If only I'd stuck around, this is the sort of catastrophe I might have created.
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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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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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We change for the good so long as good exists around us.
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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.
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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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A tourist can't help but have a distorted opinion of a place: he meets unrepresentative people, has unrepresentative experiences, and runs around imposing upon the place the fantastic mental pictures he had in his head when he got there.
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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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The only thing history teaches us, a wise man once said, is that history doesn’t teach us anything.
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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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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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He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
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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.
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One absolutely cannot tell, by watching, the difference between a .300 hitter and a .275 hitter. The difference is one hit every two weeks.
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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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