“The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an orderly, continuous process. But the world was not continuous; it changed discontinuously, and often by accident.”

Source: The Big Short (2010), Chapter Five, Accidental Capitalists, p. 116

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "The model used by Wall Street to price trillions of dollar's worth of derivatives thought of the financial world as an …" by Michael Lewis?
Michael Lewis photo
Michael Lewis 40
American writer 1960

Related quotes

Michael Lewis photo
Jonathan Safran Foer photo

“The end of the world has come often, and continues to come.”

Source: Everything Is Illuminated

Rab Butler photo
Isaac Asimov photo

“It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be …”

Isaac Asimov (1920–1992) American writer and professor of biochemistry at Boston University, known for his works of science fiction …

General sources
Source: "My Own View" in The Encyclopedia of Science Fiction (1978) edited by Robert Holdstock;
Context: It is change, continuing change, inevitable change, that is the dominant factor in society today. No sensible decision can be made any longer without taking into account not only the world as it is, but the world as it will be... This, in turn, means that our statesmen, our businessmen, our everyman must take on a science fictional way of thinking.

Elinor Ostrom photo
Aga Khan IV photo

“Pluralist societies are not accidents of history. They are a product of enlightened education and continuous investment by governments and all of civil society in recognizing and celebrating the diversity of the world’s peoples.”

Aga Khan IV (1936) 49th and current Imam of Nizari Ismailism

In a speech on Democratic Development, Pluralism and Civil Society delivered at the Nobel Institute, Oslo, Norway (7 April 2005). http://www.akdn.org/speech/nobel-institute-oslo

Doron Zeilberger photo

“Conventional wisdom, fooled by our misleading "physical intuition", is that the real world is continuous, and that discrete models are necessary evils for approximating the "real" world, due to the innate discreteness of the digital computer.”

Doron Zeilberger (1950) Israeli mathematician

"Real" Analysis is a Degenerate Case of Discrete Analysis. Appeared in the book "New Progress in Difference Equations"(Proc. ICDEA 2001), edited by Bernd Aulbach, Saber Elaydi, and Gerry Ladas, and publisher by Taylor & Francis, London, 2004.

Roberto Saviano photo
Bernie Sanders photo

Related topics