“The simple reason Goldman wasn’t making much of the big money now being made in the stock market was that the stock… — Michael Lewis Copy Share Image
Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage… — Michael Lewis Copy Share Image
“Every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice. “No matter what the regulators… — Michael Lewis Copy Share Image
“The markets in the long run are no doubt driven by fundamental economic laws—if the United States runs a persistent trade deficit,… — Michael Lewis Copy Share Image
“The same system that once gave us subprime mortgage collateralized debt obligations no investor could possibly truly understand now gave us stock… — Michael Lewis Copy Share Image
“No longer were the prices of ordinary mortgage bonds allowed to roam inefficiently, for they were now linked to the CMO market,… — Michael Lewis Copy Share Image
“By the middle of 2011, roughly 30 percent of all stock market trades occurred off the public exchanges, most of them in… — Michael Lewis Copy Share Image
A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing… — Michael Lewis Copy Share Image
“Dark pools were another rogue spawn of the new financial marketplace. Private stock exchanges, run by the big brokers, they were not… — Michael Lewis Copy Share Image
There used to be this guy called Vinny who worked on the floor of the stock exchange, said one big investor who… — Michael Lewis Copy Share Image
“Burry did not think investing could be reduced to a formula or learned from any one role model. The more he studied… — Michael Lewis Copy Share Image
“The orders resting on BATS were typically just the 100-share minimum required for an order to be at the front of any… — Michael Lewis Copy Share Image
The Germans made just about every bad investment you could have made in the last 10 years. They invested in Icelandic banks.… — Michael Lewis Copy Share Image
“What begins as a failure of the imagination ends as a market inefficiency: when you rule out an entire class of people… — Michael Lewis Copy Share Image
“Years later he would say that when he'd decided to become a professional baseball player, it was the only time he'd done… — Michael Lewis Copy Share Image
“The U.S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the… — Michael Lewis Copy Share Image
“Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions… — Michael Lewis Copy Share
“You saw someone who reminded you of you, and then you looked for the reasons why you liked him. The” — Michael Lewis Copy Share
“At other places management says, ‘Well, gee, fellas, do we really want to bet the ranch on this deal?’ Lewie was not only willing… — Michael Lewis Copy Share
“BILLY WOULD SAY later that his wife left him because she was unnerved by his intensity—that she could even see it in his hands… — Michael Lewis Copy Share
“The great thing about baseball players, from the point of view of personal hygiene, is how seldom they break a sweat.” — Michael Lewis Copy Share
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… — Michael Lewis Copy Share
“The author refers to a player's affected nonchalance and comments he is, "too young to realize you are what you pretend to be.” — Michael Lewis Copy Share
A banking system is an act of faith: it survives only for as long as people believe it will. — Michael Lewis Copy Share
Some coaches believed they could judge a player's performance simply by watching it. In this they were deeply mistaken. The naked eye was an… — Michael Lewis Copy Share
“No longer were the prices of ordinary mortgage bonds allowed to roam inefficiently, for they were now linked to the CMO market, in much… — Michael Lewis Copy Share
“The difference between Strauss and Ranieri?” says one trader still at Salomon. “That’s easy. Strauss wouldn’t stoop to use the men’s room on the… — Michael Lewis Copy Share
“The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost… — Michael Lewis Copy Share
“It's not easy to stand apart from mass hysteria - to believe that most of what's in the financial news is wrong, to believe… — Michael Lewis Copy Share
“Someone out there was using the fact that stock market orders arrived at different times at different exchanges to front-run orders from one market… — Michael Lewis Copy Share
