A credit default swap was confusing mainly because it wasn't really a swap at all. It was an insurance policy, typically on a corporate bond, with semiannual premium payments and a fixed term.
There's something bad in everything good and something good in everything bad. - Michael Lewis
There's something bad in everything good and something good in everything bad.
- Michael Lewis
People don't like uncertainty, and their minds are tools for making sense of the world, even when the world is senseless. - Michael Lewis
People don't like uncertainty, and their minds are tools for making sense of the world, even when the world is senseless.
A banking system is an act of faith: it survives only for as long as people believe it will. - Michael Lewis
A banking system is an act of faith: it survives only for as long as people believe it will.
We change for the good so long as good exists around us. - Michael Lewis
We change for the good so long as good exists around us.
If you’ve got a dozen pitchers, you need to speak 12 different languages. - Michael Lewis
If you’ve got a dozen pitchers, you need to speak 12 different languages.
Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient," Said Palmer. " The pain of… - Michael Lewis
Managers tend to pick a strategy that is the least likely to fail, rather then to pick a strategy that is most efficient," Said Palmer. " The pain of…
A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their… - Michael Lewis
A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their…
When something happens people didn't predict, they find ways to explain it as if it were predictable. - Michael Lewis
When something happens people didn't predict, they find ways to explain it as if it were predictable.
As idiotic as optimism can sometimes seem, it has a weird habit of paying off. - Michael Lewis
As idiotic as optimism can sometimes seem, it has a weird habit of paying off.
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