The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people… — Michael Lewis Copy Share Image
In their leaders, advisers, and experts, people much prefer overconfidence, total certainty, to any kind of doubt. — Michael Lewis Copy Share Image
People dislike uncertainty so much that they will impose an order on it even when it doesn't exist. — Michael Lewis Copy Share Image
People don't like uncertainty, and their minds are tools for making sense of the world, even when the world is senseless. — Michael Lewis Copy Share Image
When something happens people didn't predict, they find ways to explain it as if it were predictable. — Michael Lewis Copy Share Image
People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you… — Michael Lewis Copy Share Image
A banking system is an act of faith: it survives only for as long as people believe it will. — Michael Lewis Copy Share Image
A thought crossed his mind: How do you make poor people feel wealthy when wages are stagnant? You give them cheap loans. — Michael Lewis Copy Share Image
The incentives are still rotten, and people are still paid to do things they shouldn't be doing. The reforms did not really… — Michael Lewis Copy Share Image
The Moulin Rouge is, like the West Village and the Nasdaq, one of those places that people who don't like to take… — Michael Lewis Copy Share Image
People who think they know what they are talking about when they talk about baseball include the announcers and all of the… — Michael Lewis Copy Share Image
The Irish turned in on themselves and bid up their own land prices in the most extraordinary ways... The Irish people stepped… — Michael Lewis Copy Share Image
The world clings to its old mental picture of the stock market because it’s comforting; because it’s so hard to draw a… — Michael Lewis Copy Share Image
Thirdly-but not lastly-there was the bias toward what people saw with their own eyes, or thought they had seen. The human mind… — Michael Lewis Copy Share Image
Donald Trump got almost 3 million fewer votes than Hillary Clinton! He happened to get more in some of the right places.… — Michael Lewis Copy Share Image
What's fun is watching actors of that calibre bring them to life. It's incredible. Christian Bale spent a day with the character… — Michael Lewis Copy Share Image
People really don't like to hear success explained away as luck — especially successful people. As they age, and succeed, people feel… — Michael Lewis Copy Share Image
That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and… — Michael Lewis Copy Share Image
People were paid lots of money to make stupid decisions, people in big banks, and when people are paid to be stupid… — Michael Lewis Copy Share Image
People really don't like to hear success explained away as luck, especially successful people. As they age and succeed, people feel their… — Michael Lewis Copy Share Image
Every form of strength is also a form of weakness,” he once wrote. “Pretty girls tend to become insufferable because, being pretty,… — Michael Lewis Copy Share Image
The inability to envision a certain kind of person doing a certain kind of thing because you've never seen someone who looks… — Michael Lewis Copy Share Image
People in the voting booth are not purely rational creatures any more than they're purely rational creatures outside the voting booth. — Michael Lewis Copy Share Image
It is the nature of being the general manager of a baseball team that you have to remain on familiar terms with… — Michael Lewis Copy Share Image
He was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence. — Michael Lewis Copy Share Image
Jacks are home runs. So are dongs, bombs, and big flies. Baseball people express their fondness for a thing by thinking up… — 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
The thing I'm most afraid of is what happens when these people who voted for Donald Trump realize he's not going to… — Michael Lewis Copy Share Image
The big Wall Street firms, seemingly so shrewd and self-interested, had somehow become the dumb money. The people who ran them did… — Michael Lewis Copy Share Image
All that was clear that the profits to be had from smart people making complicated bets overwhelmed anything that could be had… — Michael Lewis Copy Share Image
What are the odds that people will make smart decisions about money if they don't need to make smart decisions--if they can… — Michael Lewis Copy Share Image
If you had to point to one thing that made it less likely that the Red Sox would win the World Series,… — 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
Icelandic people are inbred. And they have a sense of themselves as genetically special, and a history of risk-taking because they make… — Michael Lewis Copy Share Image
A tourist can't help but have a distorted opinion of a place: he meets unrepresentative people, has unrepresentative experiences, and runs around… — 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
