Coins Quote by Michael Lewis
“That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do.”
About This Quote
Source Book: Liar's Poker by Michael Lewis, 1989
A trader manipulates market fear, exploiting uncertainty for profit, then neglects personal goals.
In simple terms: Trader exploits fear for profit, ignores his own aims.
Key Takeaway
Beware exploiting others' fear for gain.
Themes
greed
manipulation
market dynamics
Mood
cynical
critical
Type
advisory
analytical
When to use this quote
- trading
- investment decisions
- personal goal setting
Key Concepts
behavioral finance
psychology
risk management
Questions to Reflect On
- How do you balance profit motives with ethical considerations?
- What personal goals are you neglecting?
A Different Perspective
Such tactics can erode trust and market stability.
![“Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.” quote by Michael Lewis](https://sms4smile.com/quotes/img-quotes/a59/michael-lewis-705_decision-making_crucial-decisions-are-made-today-as-thou_16888.jpg)
