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All of a sudden the market is all about algos and routers.

Michael Lewis

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Michael Lewis
Age: 64
Born: 1960
Born: October 15
Author
Journalist
Writer
New Orleans
Louisiana
Michael M. Lewis
Market
Sudden

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There's something bad in everything good and something good in everything bad.
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One absolutely cannot tell, by watching, the difference between a .300 hitter and a .275 hitter. The difference is one hit every two weeks.
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You can anchor the mind into answering a question a certain way by giving them a totally unrelated piece of information dropped before.
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Everything, in retrospect, is obvious. But if everything were obvious, authors of histories of financial folly would be rich . . .
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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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My client loved risk. Risk, I had learned, was a commodity in itself. Risk could be canned and sold like tomatoes.
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There's no point in arguing with partisan supporters. Their views are their identity. Nothing you can tell the most phlegmatic follower.
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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.
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A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans.
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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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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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He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
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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.
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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.
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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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Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.
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