Quote

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

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
Hedge
Mutual
Adviser
Investing
Elaborate
Street
Analysts
Dollars
Funds
Army
Equity
Advisers
Private
Fraud
Trillions
Streets
Brokers
Wall
Fund

More quotes by 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
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
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
People dislike uncertainty so much that they will impose an order on it even when it doesn't exist.
Michael Lewis
Image
He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
Michael Lewis
Image
In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
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
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
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
Hollywood would much prefer the author be dead, so that they can buy the book and do what they want to do with it.
Michael Lewis
Image
My characters are actually usually pretty smart and admirable.
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
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
All of a sudden the market is all about algos and routers.
Michael Lewis
Image
My judgement is not good when I am on a book tour. I am not thinking about it that much. What happens is I will go back home. I have a 4-year-old and a 1-year-old and a wife who is now taking care of them who is wondering where her husband is.
Michael Lewis
Image
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.
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
There's something bad in everything good and something good in everything bad.
Michael Lewis
Image
Baseball is this intense subculture that actually doesn't speak very much for the larger culture.
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