Michael Lewis Quotes

Michael Lewis Quotes: 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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Michael Lewis Quote: The inability to envision a certain kind of person doing a certain kind of thing because you've never seen someone who looks like him do it before is not just a vice. It's a luxury. What begins as a failure of the imagination ends as a market inefficiency: when you rule out an entire class of people from doing a job simply by their appearance, you are less likely to find the best person for the job.
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Quotes about Michael Lewis: 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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Quote about Michael Lewis: There used to be this guy called Vinny who worked on the floor of the stock exchange, said one big investor who had observed the market for a long time. After the markets closed Vinny would get into his Cadillac and drive out to his big house in Long Island. Now there is the guy called Vladimir who gets into his jet and flies to his estate in Aspen for the weekend. I used to worry a little about Vinny. Now I worry a lot about Vladimir
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Michael Lewis Sayings: 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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Michael Lewis Saying: The incentive for the outsider is to attack the system right up to the moment he is co-opted by it. The incentive for the insider -and this took some getting used to- is to allow yourself to be attacked, and then co-opt your most ferocious attackers, and their best ideas. The effect on the system as a whole is to make it more stable, because everyone winds up working on its behalf.
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Sayings about Michael Lewis: The CDO was, in effect, a credit laundering service for the residents of Lower Middle Class America. For Wall Street it was a machine that turned lead into gold.
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Saying about Michael Lewis: People really don't like to hear success explained away as luck, especially successful people. As they age and succeed, people feel their success was somehow inevitable. They don't want to acknowledge the role played by accident in their lives. There's a reason for this. The world doesn't want to acknowledge it either. Don't be deceived by life's outcomes. Life's outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that you have had success, you have also had luck. And with luck comes obligation.
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Michael Lewis Quotes: He was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
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Michael Lewis 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.
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Quotes about Michael Lewis: 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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Quote about Michael Lewis: You want the book to be special, and they are not always going to be special, but at least you want that to be the ambition. So the only way that happens is if you are not pressing to write a book.
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Michael Lewis Sayings: A credit default swap was confusing mainly because it wasn't really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term.
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Michael Lewis Saying: 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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Sayings about Michael Lewis: 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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