The incentive for the outsider is to attack the system right up to the moment he is co-opted by it. The incentive for the insider -and this took some getting used to- is to allow yourself to be attacked, and then co-opt your most ferocious attackers, and their best ideas. The effect on the system as a whole is to make it more stable, because everyone winds up working on its behalf.
Michael LewisWarren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.
Michael LewisBaseball has so much history and tradition. You can respect it, or you can exploit it for profit, but it's still being made all over the place, all the time.
Michael LewisThirdly-but not lastly-there was the bias toward what people saw with their own eyes, or thought they had seen. The human mind played tricks on itself when it relied exclusively on what it saw. There was a lot you couldn't see when you watched a game
Michael LewisHe's a machine for competitive balance, ... Yes, the money is in New York. Yes, the money is in his hands. But he squanders money. Thank God for it.
Michael Lewis