Michael Lewis

“People in both fields operate with beliefs and biases. To the extent you can eliminate both and replace them with data, you gain a clear advantage.”

“In the land of the blind, the one-eyed man is king.”

“An option is a right, but not an obligation, to buy or sell.”

“Markets crash because they are markets.”

“That's the strange thing about the financial world: The people who are supposedly experts don't really know more than anyone else.”

“The inability to envision a certain kind of person doing a certain kind of thing is a profound handicap.”

“It's amazing how ridiculously expensive it is to introduce a person to a new idea.”

“Good new ideas are always crazy until they’re not.”

“The creation of the island of misfit toys was a masterful act of reverse psychology.”

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

“The first thing you learn on a trading floor is that when large numbers of people are after the same commodity, be it a stock, a bond, or a job, the commodity quickly becomes overvalued.”

“The single greatest edge an investor can have is a long-term orientation.”

“If you are not an insider, you are an outsider. And if you are an outsider, you are going to be taken advantage of.”

“The market might be driven by fear and greed, but it's also driven by stupidity.”

“What I really want to do is to be a rebel but to do it in a way that is not self-destructive.”

“It's hard to find an easier way to survive in the world than to be a little bit smarter than everyone else.”