Top 400 Michael Lewis Quotes (2024 Update)
Page 8 of 9

351. “The larger the number of people involved, the easier it was for them to delude themselves that what they were doing must be smart.”

— Michael Lewis

352. “Why were they prepaying so fast? Vinny asked himself. “It made no sense to me. Then I saw that the reason the prepayments were so high is that they were involuntary.”

— Michael Lewis

353. “Historians imposed false order upon random events, too, probably without even realizing what they were doing. Amos had a phrase for this. “Creeping determinism,” he called it – and jotted in his notes one of its many costs: “He who sees the past as surprise-free is bound to have a future full of surprises.”

— Michael Lewis

354. “It’s what you fail to imagine that kills you.”

— Michael Lewis

355. “The source of his unhappiness was, as usual, other people.”

— Michael Lewis

356. “Even as late as the summer of 2006, as home prices began to fall, it took a certain kind of person to see the ugly facts and react to them-to discern, in the profile of the beautiful young lady, the face of an old witch.”

— Michael Lewis

357. “Fracking – to take one example – was not the brainchild of private-sector research but the fruit of research paid for twenty years ago by the DOE. Yet fracking has collapsed the price of oil and gas and led to American energy independence. Solar and wind technologies are another example. The.”

— Michael Lewis

358. “To defend the Club against the new idea, the members had to distort the idea. By the end of the 2003 baseball season I had learned something from publishing Moneyball. I learned that if you look long enough for an argument against reason you will find it.”

— Michael Lewis

359. “This gorgeous financial myopia was common in the Valley, and one of the chief sources of its success.”

— Michael Lewis

360. “If you’re in a business where you can do only one thing and it doesn’t work out, it’s hard for your bosses to be mad at you.”

— Michael Lewis

361. “Every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice.”

— Michael Lewis

362. “Hollywood would much prefer the author be dead, so that they can buy the book and do what they want to do with it.”

— Michael Lewis

363. “From the end of 2005 until the middle of 2007, Wall Street firms created somewhere between $200 and $400 billion in subprime-backed CDOs: No.”

— Michael Lewis

364. “Trump didn’t invent this desire. He was just its ultimate expression.”

— Michael Lewis

365. “Each time, Lippmann would talk a mile a minute, and Danny and Vinny would stare in wonder. Their meetings acquired the flavor of a postmodern literary puzzle: The story rang true even as the narrator seemed entirely unreliable.”

— Michael Lewis

366. “Ben walked around with some very tiny fraction of his mind alert to the probabilities of disasters in real life. People underestimated these, too, he believed, because they didn’t want to think about them. There was a tendency, in markets and life, for people to respond to the possibility of extreme events in one of two ways: flight or fight. “Fight is, ‘I’m going to get my guns,’” he said. “Flight is, ‘We’re all doomed so I can’t do anything about it.”

— Michael Lewis

367. “After Gell-Man was done, Amos said, “You know, Murray, there is no one in the world who is as smart as you think you are.”

— Michael Lewis

368. “Trump’s budget, like the social forces behind it, is powered by a perverse desire – to remain ignorant.”

— Michael Lewis

369. “Microsoft had made it clear that the only way to preserve your station in Valley life was to create a monopoly. If you created a monopoly, you were at least partially exempt from the ordinary rapid cycle of creation and destruction.”

— Michael Lewis

370. “March 2008 the stock market had finally grasped what every mortgage bond salesman had long known: Someone had lost at least $240 billion. But who? Morgan Stanley still owned $13 billion or so in CDOs, courtesy of Howie Hubler. The idiots in Germany owned some, Wing Chau and CDO managers like him owned some.”

— Michael Lewis

371. “Because his memory is so selective, he has no scars from prior experience,” said Vinny.”

— Michael Lewis

372. “He walked around the Las Vegas casino incredulous at the spectacle before him: seven thousand people, all of whom seemed delighted with the world as they found it. A society with deep, troubling economic problems had rigged itself to disguise those problems, and the chief beneficiaries of the deceit were its financial middlemen.”

— Michael Lewis

373. “The people on the short side of the subprime mortgage market had gambled with the odds in their favor. The people on the other side – the entire financial system, essentially – had gambled with the odds against them. Up to this point, the story of the big short could not be simpler. What’s strange and complicated about it, however, is that pretty much all the important people on both sides of the gamble left the table rich.”

— Michael Lewis

374. “You could argue the banks are much better capitalised than they were going into the crisis, and everyone’s in a much more vigilant state because they still remember the crisis.”

— Michael Lewis

375. “Inside a dark pool, no one but the broker who ran it had any idea what was happening.”

— Michael Lewis

376. “Our players aren’t our problem. But we are what our record says we are.”

— Michael Lewis

377. “The trick was not simply to write the code that turned information into pictures but to find the best pictures to draw – shapes and colors that led the mind to meaning.”

— Michael Lewis

378. “His experience with Household Finance had disabused him of any hope that the government would intercede to prevent rich corporations from doing bad things to poor people.”

— Michael Lewis

379. “Light fades as it travels; the fainter it becomes, the less capable it is of transmitting data.”

— Michael Lewis

380. “It is the innovation that never occurs, and the knowledge that is never created, because you have ceased to lay the groundwork for it. It is what you never learned that might have saved you.”

— Michael Lewis

381. “Aldinger, collected his $100 million, Eisman was on his way to becoming the financial market’s first socialist. “When you’re a conservative Republican, you never think people are making money by ripping other people off,” he said. His mind was now fully.”

— Michael Lewis

382. “In the end he plotted both the deaths and the restrictions imposed to prevent them, and saw that the earlier the restrictions imposed in any given outbreak, the fewer the deaths. In the case of Philadelphia, he wrote, “the closing of schools and churches, banning of public meetings, and banning of large public gatherings occurred relatively late into the epidemic” – nearly one month after the outbreak began and just a week before its peak.”

— Michael Lewis

383. “I wonder,” James wrote, “if we haven’t become so numbed by all these numbers that we are no longer capable of truly assimilating any knowledge which might result from them.”

— Michael Lewis

384. “The frantic stupidity of Wall Street’s stock order routers and algorithms was simply an extension into the computer of the willful ignorance of its salespeople.”

— Michael Lewis

385. “All that was clear that the profits to be had from smart people making complicated bets overwhelmed anything that could be had from servicing customers, or allocating capital to productive enterprise.”

— Michael Lewis

386. “The American Home of the Future, it went without saying, would be controlled and monitored by a computer. The computer would permit the owner to enter into a new, fantastic relationship with his dwelling.”

— Michael Lewis

387. “People who had lived without government were more likely to find meaning in it. On the other hand, people who had never experienced a collapsed state were slow to appreciate a state that had not yet collapsed.”

— Michael Lewis

388. “I set out to write this book only because I thought it would be better to tell the story than to go on living the story.”

— Michael Lewis

389. “People think that complex is an advanced state of complicated,” said Zoran. “It’s not. A car key is simple. A car is complicated. A car in traffic is complex.”

— Michael Lewis

390. “To be honest, the only time I’ve ever felt like a minority is this exact moment. If you really want to encourage diversity you shouldn’t make people feel like a minority.” Then he left. The group continued to meet without him. The.”

— Michael Lewis

391. “Communicable meant a person could give it to another person. You could get Lyme disease, for instance, but you couldn’t give it to somebody else. Communicable diseases were the diseases that created crises.”

— Michael Lewis

392. “The expression “what doesn’t kill you makes you stronger” actually isn’t usually true for human beings. It is for bacteria, however.”

— Michael Lewis

393. “But not for him. “This is the crux of science,” he’d say with enthusiasm. “All science is modeling. In all science you are abstracting from nature. The question is: is it a useful abstraction.” Useful, to Bob Glass, meant: Does it help solve a problem?”

— Michael Lewis

394. “The greatest trick the CDC ever pulled was convincing the world containment wasn’t possible,” she said. “Our dignity was lost in not even trying to contain it.”

— Michael Lewis

395. “The public health texts of the future will use this as a lesson on how not to handle an infectious disease pandemic.”

— Michael Lewis

396. “No single intervention would stop a flu-like disease in its tracks, just as no single safety measure would prevent a doctor from replacing the right hip when it was the left hip that hurt. The trick was to mix and match strategies in response to the nature of the disease and the behavior of the population. Each strategy was like another slice of Swiss cheese; enough slices, properly aligned, would hide the holes.”

— Michael Lewis

397. “No one knew why some people were superspreaders:.”

— Michael Lewis

398. “Companies that manufactured aspirin petitioned the White House. “The White House called and told us to cease and desist,” recalled Foege. “Do a new study.” The aspirin makers had been able to force the CDC to scrap its findings and slow down science. Foege had resigned after that. “The fact that they would risk the lives of children – it just bothered me so much,” he said.”

— Michael Lewis

399. “The root of the CDC’s behavior was simple: fear. They didn’t want to take any action for which they might later be blamed.”

— Michael Lewis

400. “Here is the frightening aspect of the global supply chain,” said Joe. “When there is a surge in demand, inventory goes to zero. Just-in-time manufacturing. Great concept! Horrible in a pandemic.”

— Michael Lewis