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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

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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Army
Funds
Private
Equity
Advisers
Streets
Fraud
Trillions
Wall
Fund
Brokers
Mutual
Hedge
Investing
Adviser
Street
Elaborate
Dollars
Analysts

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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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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.
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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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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.
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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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There's something bad in everything good and something good in everything bad.
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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.
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That's what happens when you're thirty-seven years old: you do the things you always did but the result is somehow different.
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What's fun is watching actors of that calibre bring them to life. It's incredible. Christian Bale spent a day with the character he plays and after my year of being with him I couldn't have generated the same view of him. They have a different way of looking at people, it's fascinating to watch.
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Baseball is this intense subculture that actually doesn't speak very much for the larger culture.
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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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Book tours are almost designed to beat out of an author any affection he has for his book.
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Girls tend to attribute their failures to factors such as lack of ability, while boys tend to attribute failure to specific factors, including teachers' attitudes. Moreover, girls avoid situations in which failure is likely, whereas boys approach such situations as a challenge, indicating that failure differentially affects self-esteem.
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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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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.
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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.
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As idiotic as optimism can sometimes seem, it has a weird habit of paying off.
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People dislike uncertainty so much that they will impose an order on it even when it doesn't exist.
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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.
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He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
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