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a90f754
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Those who know don't tell and those who tell don't know.
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Michael Lewis |
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fc1539c
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The pleasure of rooting for Goliath is that you can expect to win. The pleasure of rooting for David is that, while you don't know what to expect, you stand at least a chance of being inspired.
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Michael Lewis |
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04539be
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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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Michael Lewis |
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2363ce8
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What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can get rich making dumb decisions? The incentives on Wall Street were all wrong; they're still all wrong.
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Michael Lewis |
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a108b0a
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Every form of strength is also a form of weakness," he once wrote. "Pretty girls tend to become insufferable because, being pretty, their faults are too much tolerated. Possessions entrap men, and wealth paralyzes them. I learned to write because I am one of those people who somehow cannot manage the common communications of smiles and gestures, but must use words to get across things that other people would never need to say."
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Michael Lewis |
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56a7751
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He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
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Michael Lewis |
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00f6504
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Courage is a hard thing to figure. You can have courage based on a dumb idea or mistake, but you're not supposed to question adults, or your coach or your teacher, because they make the rules. Maybe they know best, but maybe they don't. It all depends on who you are, where you come from. Didn't at least one of the six hundred guys think about giving up, and joining with the other side? I mean, valley of death that's pretty salty stuff. That..
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Michael Lewis |
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e0d2b3b
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Man is a deterministic device thrown into a probabilistic universe. In this match, surprises are expected.
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probability
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Michael Lewis |
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56c26b8
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When you are a pessimist and the bad thing happens, you live it twice, Amos
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Michael Lewis |
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3bc7ce5
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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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recession
wall-street
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Michael Lewis |
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3e16906
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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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real-estate
recession
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Michael Lewis |
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c0fd6ea
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He suggested a new definition of the nerd: a person who knows his own mind well enough to mistrust it.
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Michael Lewis |
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b5b8f49
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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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Michael Lewis |
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663b952
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In the land of the blind the one-eyed man is king
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Michael Lewis |
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870be66
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People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.
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Michael Lewis |
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a139edc
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Don't worry where I am. I'll tell you when I get there.
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Michael Lewis |
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6dbc056
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There was a rift in American life that was now coursing through American government. It wasn't between Democrats and Republicans. It was between the people who were in it for the mission, and the people who were in it for the money.
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Michael Lewis |
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3aaf1c1
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Success was individual achievement; failure was a social problem.
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Michael Lewis |
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c8af1bd
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It's hard to know how people select a course in life," Amos said. "The big choices we make are practically random. The small choices probably tell us more about who we are. Which field we go into may depend on which high school teacher we happen to meet. Who we marry may depend on who happens to be around at the right time of life. On the other hand, the small decisions are very systematic. That I became a psychologist is probably not very ..
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Michael Lewis |
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f8d2f74
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The sheer quantity of brain power that hurled itself voluntarily and quixotically into the search for new baseball knowledge was either exhilarating or depressing, depending on how you felt about baseball. The same intellectual resources might have cured the common cold, or put a man on Pluto.
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science
humor
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Michael Lewis |
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9adbd36
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If you challenge conventional wisdom, you will find ways to do things much better than they are currently done. Bill James
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Michael Lewis |
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f891b61
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That was the problem with money: What people did with it had consequences, but they were so remote from the original action that the mind never connected the one with the other.
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Michael Lewis |
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71e95e1
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I was gonna put him on the bus...I got tired of him talking, it was time for him to go home.
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Michael Lewis |
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033dbac
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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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moneyball
baseball
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michael lewis |
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4415a9d
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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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Michael Lewis |
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2b58b6e
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The world clings to its old mental picture of the stock market because it's comforting; because it's so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so.
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Michael Lewis |
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79e24b4
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Knowledge is literally prediction," said Morey. "Knowledge is anything that increases your ability to predict the outcome. Literally everything you do you're trying to predict the right thing. Most people just do it subconsciously." A"
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Michael Lewis |
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111495a
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Everywhere you turn you see Americans sacrifice their long-term interests for a short-term reward.
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Michael Lewis |
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01e5b3e
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fifth risk: the risk a society runs when it falls into the habit of responding to long-term risks with short-term solutions.
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Michael Lewis |
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9fc4d5e
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When they made decisions, people did not seek to maximize utility. They sought to minimize regret.
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Michael Lewis |
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dde2eeb
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When you're a conservative Republican, you never think people are making money by ripping other people off," he said. His mind was now fully open to the possibility. "I now realized there was an entire industry, called consumer finance, that basically existed to rip people off."
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republican
fraud
mortgage-loans
steve-eisman
recession
wall-street
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Michael Lewis |
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06d8482
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If your ambition is to maximize short-term gain without regard to the long-term cost, you are better off not knowing the cost. If you want to preserve your personal immunity to the hard problems, it's better never to really understand those problems. There is an upside to ignorance, and a downside to knowledge. Knowledge makes life messier. It makes it a bit more difficult for a person who wishes to shrink the world to a worldview.
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Michael Lewis |
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09292ad
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Years later he would say that when he'd decided to become a professional baseball player, it was the only time he'd done something just for the money, and that he'd never do something just for the money ever again. He would never again let the market dictate the direction of his life.
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Michael Lewis |
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2e84cb6
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Germans longed to be near shit, but not in it. This, as it turns out, is an excellent description of their role in the current financial crisis.
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Michael Lewis |
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7410969
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What I learned playing basketball at Ole Miss," he said, "was what not to do: beat up a kid. It's easy to beat up a kid. The hard thing is to build him up."
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Michael Lewis |
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4a9688a
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No matter how successful you are, change is always good. There can never be a status quo. When you have no money you can't afford long-term solutions, only short-term ones. You have to always be upgrading. Otherwise you're fucked.
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Michael Lewis |
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11353d6
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The way the creative process works is that you first say something, and later, sometimes years later, you understand what you said.
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Michael Lewis |
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e2de28f
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When something becomes obvious to you," he said, "you immediately think surely someone else is doing this."
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Michael Lewis |
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4f2d01a
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The secret to doing good research is always to be a little underemployed. You waste years by not being able to waste hours
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discovery
tversky
innovation
productivity
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Michael Lewis |
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11cbd48
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There was but one question he left unasked, and it vibrated between his lines: if gross miscalculations of a person's value could occur on a baseball field, before a live audience of thirty thousand, and a television audience of millions more, what did that say about the measurement of performance in other lines of work? If professional baseball players could be over- or under valued, who couldn't?
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Michael Lewis |
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e0b0af6
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I lived here my whole life and I've never been to this neighborhood.' And Big Mike finally spoke up. 'Don't worry,' he said. 'I got your back.
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Michael Lewis |
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6b5d744
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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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love-of-god
sovereignty-of-god
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Michael Lewis |
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8a1e306
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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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humor
wall-street
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Michael Lewis |
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29a1ba9
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From the snap of the ball to the snap of the first bone is closer to four seconds than to five. and Lawrence Taylor (fearless tackle) WE all have fears, we all have fears!!
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Michael Lewis |