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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
Streets
Fraud
Trillions
Wall
Fund
Brokers
Mutual
Hedge
Investing
Adviser
Street
Elaborate
Dollars
Analysts
Army
Funds
Private
Equity
Advisers
More quotes by Michael Lewis
In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt.
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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.
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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.
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I didn't think one day something would happen that would bring me back to Wall Street to write what is essentially a sequel.
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Donald Trump got almost 3 million fewer votes than Hillary Clinton! He happened to get more in some of the right places. It was just like one of those things where a stock going up and people impose a false sense of order on it. It's really more intellectually honestly viewed as a disorderly process.
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All of a sudden the market is all about algos and routers.
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As idiotic as optimism can sometimes seem, it has a weird habit of paying off.
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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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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.
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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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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.
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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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Hollywood would much prefer the author be dead, so that they can buy the book and do what they want to do with it.
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What happens when we acknowledge the sovereignty and power of God without trusting in His goodness and faithfulness? A pitcher who saw God's power behind his extremely unlikely rise to the big leagues wondered if, at any difficulty he encountered there, God might be taking his ability away.
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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.
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He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
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He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
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There's something bad in everything good and something good in everything bad.
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We change for the good so long as good exists around us.
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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.
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