Michael Lewis: Market

Michael Lewis is American writer. Explore interesting quotes on market.
Michael Lewis: 80 quotes0 likes

“Ever since grade school, when his father had shown him the stock tables at the back of the newspaper and told him that the stock market was a crooked place and never to be trusted, let alone invested in, the subject had fascinated him.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Two, In the Land Of The Blind, p. 35

“Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Three, " How Can A Guy Who Can't Speak English Lie?", p. 80

“The more money to be made gaming the financial markets, the more people would decide they were put on earth to game the financial markets – and create romantic narratives to explain to themselves why a life spent gaming the financial markets is a purposeful life.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 266

“The entire history of Wall Street was the story of scandals, it now seemed to him, linked together tail to trunk like circus elephants. Every systemic market injustice arose from some loophole in a regulation created to correct some prior injustice.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 101

“The U. S. stock market was now a class system, rooted in speed, of haves and have-nots. The haves paid for nanoseconds; the have-nots had no idea that a nanosecond had value. The haves enjoyed a perfect view of the market; the have-nots never saw the market at all. What had once been the world’s most public, most democratic, financial market had become, in spirit, something like a private viewing of a stolen work of art.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 69

“They traded in the market the way card counters in a casino played blackjack: They played only when they had an edge. That’s why they were able to trade for five years without losing money on a single day.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 263-4

“Reg NMS was intended to create equality of opportunity in the U. S. stock market. Instead it institutionalized a more pernicious inequality. A small class of insiders with the resources to create speed were now allowed to preview the market and trade on what they had seen.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 98

“Here was a strange but true fact: The closer you were to the market, the harder it was to perceive its folly.”

Michael Lewis book The Big Short

Source: The Big Short (2010), Chapter Three, " How Can A Guy Who Can't Speak English Lie?", p. 91

“Someone out there was using the fact that stock market orders arrived at different times at different exchanges to front-run orders from one market to another.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 50

“The orders resting on BATS were typically just the 100-share minimum required for an order to be at the front of any price queue, as their only purpose was to tease information out of investors. The HFT firms posted these tiny orders on BATS—orders to buy or sell 100 shares of basically every stock traded in the U. S. market—not because they actually wanted to buy and sell the stocks but because they wanted to find out what investors wanted to buy and sell before they did it. BATS, unsurprisingly, had been created by high-frequency traders.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 73

“The world clings to its old mental picture of the stock market because it’s comforting; because it’s so hard to draw a picture of what has replaced it; and because the few people able to draw it for you have no interest in doing so.”

Michael Lewis book Flash Boys

Source: Flash Boys (2014), p. 4