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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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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
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New Orleans
Louisiana
Michael M. Lewis
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More quotes by Michael Lewis
Everything, in retrospect, is obvious. But if everything were obvious, authors of histories of financial folly would be rich . . .
Michael Lewis
They [some countries] borrowed money to go acquire things, Indian power plants and Danish newspapers and British soccer teams. And they did it willy-nilly, and they themselves a story, that Icelandic history and culture and DNA leaves us very well-suited to being investment bankers.
Michael Lewis
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
He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
Michael Lewis
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
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.
Michael Lewis
In Bakersfield, California, a Mexican strawberry picker with an income of $14,000 and no English was lent every penny he needed to buy a house for $724,000.
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.
Michael Lewis
Those who know don't tell and those who tell don't know.
Michael Lewis
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.
Michael Lewis
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
Book tours are almost designed to beat out of an author any affection he has for his book.
Michael Lewis
We have the Google family calendar. Before a week starts, my wife and I sit down to decide who's driving who to school or when can we go out on a date.
Michael Lewis
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
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
If you had to point to one thing that made it less likely that the Red Sox would win the World Series, I would say it was those people that go to Fenway Park to watch the games. And then the media around it.
Michael Lewis
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
When something happens people didn't predict, they find ways to explain it as if it were predictable.
Michael Lewis
In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
Michael Lewis
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
