Michael Lewis Quotes

4 quotes from Michael Lewis on investing.

• What are the odds that people will make smart decisions about money if they don't need to make smart decisions-if they can get rich making dumb decisions?

• The men on the trading floor may not have been to school, but they have Ph. D.'s in man's ignorance.

• The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence.

• The markets in the long run are no doubt driven by fundamental economic laws-if the United States runs a persistent trade deficit, the dollar will eventually plummet-but in the short run money flows less rationally. Fear and, to a lesser extent, greed are what make money move.