Previous Quote

Michael Lewis Quotes

Next Quote
Image of the quote is loading... SaveSave The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence. - Quote by Michael Lewis

The only inexplicable aspect of the process was that economic theory (which is, after all, what economics students were supposed to know) served almost no function in an investment bank. The bankers used economics as a sort of standardized test of general intelligence.

Michael Lewis
Copy LinkCopy Link
Copy QuoteCopy Quote
Copy ImageCopy Image
Download Image of QuoteDownload Image

About The Quote

Related Authors

Related Topics

More Quotes From Michael Lewis

I share your feeling that such behavior is, in some sense, unwise or erroneous, but this does not mean that it does not occur,' Amos wrote to an American economist who complained about the description of human nature implied by 'Value Theory.' 'A theory of vision cannot be faulted for predicting optical illusions. Similarly, a descriptive theory of choice cannot be rejected on the grounds that it predicts 'irrational behavior' if the behavior in question is in fact observed.
Michael Lewis
Baseball is a soap opera that lends itself to probabilistic thinking. [Dick Cramer]
Michael Lewis
Baseball has so much history and tradition. You can respect it, or you can exploit it for profit, but it's still being made all over the place, all the time.
Michael Lewis
Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.
Michael Lewis
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 Lewis
Those who say don't know, those who know don't say
Michael Lewis
Every form of strength is also a form of weakness,” he once wrote. “Pretty girls tend to become insufferable because, being pretty, their faults are too much tolerated. Possessions entrap men, and wealth paralyzes them. I learned to write because I am one of those people who somehow cannot manage the common communications of smiles and gestures, but must use words to get across things that other people would never need to say.
Michael Lewis
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.
Michael Lewis
Report Quote Report Quote Report Quote Submit Quote Submit Quote Submit Quote