The Moulin Rouge is, like the West Village and the Nasdaq, one of those places that people who don't like to take risks come to for the thrill of being on the spot where risks once were taken.
Michael LewisThere 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?
Michael LewisThe pleasure of rooting for Goliath is that you can expect to win. The pleasure of rooting for David is that, while you donโt know what to expect, you stand at least a chance of being inspired.
Michael LewisThere are several insights at the heart of the Aโs system that I think are wonderful for baseball. One, that itโs a team game. That no one player is going to make that much of a difference to your team, so for godโs sake donโt go blow a quarter of your budget on one guy.
Michael LewisPeople really don't like to hear success explained away as luck โ especially successful people. As they age, and succeed, people feel their success was somehow inevitable. They don't want to acknowledge the role played by accident in their lives. There is a reason for this: the world does not want to acknowledge it either. If you use better data, you can find better values; there are always market inefficiencies to exploit, and so on. But it has a broader and less practical message: don't be deceived by life's outcomes. Life's outcomes, while not entirely random, have a huge amount of luck baked into them. Above all, recognize that if you have had success, you have also had luck โ and with luck comes obligation.
Michael Lewis