My client loved risk. Risk, I had learned, was a commodity in itself. Risk could be canned and sold like tomatoes.
Michael LewisHe was ignorant, but a lot of people mistook ignorance for stupidity, and knowingness for intelligence.
Michael LewisHe was blessed with an unconventional mind, which overcame his conventional middle-class upbringing.
Michael LewisI don't think there is a national pasttime. Watching TV is a national pasttime. Really. If there is a national pasttime, it is watching TV.
Michael LewisYet another hedge fund manager explained Icelandic banking to me this way: you have a dog, and I have a cat. We agree that each is worth a billion dollars. You sell me the dog for a billion, and I sell you the cat for a billion. Now we are no longer pet owners but Icelandic banks, with a billion dollars in new assets.
Michael Lewis