en

Michael Lewis

Michael Lewis, the best-selling author of Liar’s Poker, The Money Culture, The New New Thing, Moneyball, The Blind Side, Panic, Home Game, The Big Short, and Boomerang, among other works, lives in Berkeley, California, with his wife and three children.

Books

Audiobooks

Voice

Quotes

Ana Laura Pérezhas quoted2 years ago
The long answer was that there were huge sums of money to be made, if you could somehow get them re-rated as triple-A, thereby lowering their perceived risk, however dishonestly and artificially. This is what Goldman Sachs had cleverly done. Their--soon to be everyone's--nifty solution to the problem of selling the lower floors appears, in retrospect, almost magical. Having gathered 100 ground floors from 100 different subprime mortgage buildings (100 different triple-B-rated bonds), they persuaded the rating agencies that these weren't, as they might appear, all exactly the same things. They were another diversified portfolio of assets! This was absurd.
Ana Laura Pérezhas quoted2 years ago
Paulson had never encountered a market in which an investor could sell short 25 billion dollars' worth of a stock or bond without causing its price to move, even crash.
Ana Laura Pérezhas quoted2 years ago
Bond market terminology was designed less to convey meaning than to bewilder outsiders.

Impressions

Gusshared an impressionlast year
👍Worth reading

La incertidumbre obliga a tomar decisiones mediante el juicio, donde hay juicio hay error

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  • Olga Gshared an impression2 months ago
    💡Learnt A Lot

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