That's what happens when you're thirty-seven years old: you do the things you always did but the result is somehow different.
Michael LewisRead
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.
Interpretation
What this quote means
Eliminating beliefs and biases in favor of data leads to better decision-making.
In this quote, Michael Lewis emphasizes the importance of grounding decisions in data rather than personal beliefs or biases. By relying on objective information, individuals and organizations can achieve a clearer understanding and make more informed choices, thus gaining a competitive edge in their respective fields.
Themes
DataBeliefsBiasesDecision-MakingAdvantage
In practice
Example use cases
During a business presentation, you could use this quote to highlight the importance of data-driven strategies.
More from Michael Lewis
All quotes →Commitment, by its nature, frees us from ourselves and, while it stands us in opposition to some, it joins us with others similarly committed. Commitment moves us from the mirror trap of the self absorbed with the self to the freedom of a community of shared values.
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Above all, recognize that if you have had success, you have also had luck — and with luck comes obligation. You owe a debt, and not just to your Gods. You owe a debt to the unlucky.
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The men on the trading floor may not have been to school, but they have Ph.D.’s in man’s ignorance.
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A banking system is an act of faith: it survives only for as long as people believe it will.
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That was how a Salomon bond trader thought: He forgot whatever it was that he wanted to do for a minute and put his finger on the pulse of the market. If the market felt fidgety, if people were scared or desperate, he herded them like sheep into a corner, then made them pay for their uncertainty. He sat on the market until it puked gold coins. Then he worried about what he wanted to do.
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