Quote

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.

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
Results
Term
Sillier
Greater
Pricing
Opportunity
Generated
Use
Option
Black
Model
Didn
Models
People
Longer

More quotes by Michael Lewis

Image
As idiotic as optimism can sometimes seem, it has a weird habit of paying off.
Michael Lewis
Image
He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
Michael Lewis
Image
Commitment, by its nature, frees us from ourselves and, while it stands us in opposition to some, it joins us with others similarly committed. Commitment moves us from the mirror trap of the self absorbed with the self to the freedom of a community of shared values.
Michael Lewis
Image
When something happens people didn't predict, they find ways to explain it as if it were predictable.
Michael Lewis
Image
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.
Michael Lewis
Image
We aren't natural statisticians. What we are is natural storytelling machines. And so what we do after we have the facts in hand is build a story to explain the facts.
Michael Lewis
Image
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
Image
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
Image
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
Image
You can anchor the mind into answering a question a certain way by giving them a totally unrelated piece of information dropped before.
Michael Lewis
Image
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
Image
My characters are actually usually pretty smart and admirable.
Michael Lewis
Image
Those who know don't tell and those who tell don't know.
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
A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.
Michael Lewis
Image
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
Image
Baseball is this intense subculture that actually doesn't speak very much for the larger culture.
Michael Lewis
Image
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
Image
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.
Michael Lewis
Image
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