People with Asperger’s couldn’t control what they were interested in. It was a stroke of luck that his special interest was financial markets and not, say, collecting lawn mower catalogues.
How many people can pick up a book and find an instruction manual for their life?
I’m doing something I always dreamed about doing, and it was about the most depressing moment I’ve ever had in my life,
Worth. A baseball team, of all things, was at the center of a story about the possibilities—and the limits—of reason in human affairs. Baseball—of all things—was an example of how an unscientific cult...
The risk we should most fear is not the risk we easily imagine. It is the risk that we don’t. Which brought us to the fifth risk.
Ratings in the NFL. Then Kemp, too, was injured. His replacement was a fellow named Mike Moroski, so obscure that any question concerning his NFL career would be considered out of bounds in a game of...
Why were they prepaying so fast? Vinny asked himself. It made no sense to me. Then I saw that the reason the prepayments were so high is that they were involuntary.
These folks don’t know what they’re talking about. If losses go to ten percent there will be, like, a million homeless people. (Losses in the pools Hubler’s group had bet on would eventually reach 40...
The trouble was that clarity and simplicity were more important in computer language than in human language.
The supreme art of war is to subdue the enemy without fighting. —Sun-tzu
The same system that once gave us subprime mortgage collateralized debt obligations no investor could possibly truly understand now gave us stock market trades that occurred at fractions of a penny at...
The rating agencies, who were paid fat fees by Goldman Sachs and other Wall Street firms for each deal they rated, pronounced 80 percent of the new tower of debt triple-A.
The quarterback of the Washington Redskins, Joe Theismann, turns and hands the ball to running back John Riggins. He watches Riggins run two steps forward, turn, and flip the ball back to him. It’s wh...
The only thing capitalism cannot survive is stability. Stability—true stability—is an absence of progress, and a dearth of new wealth.
The less transparent the market and the more complicated the securities, the more money the trading desks at big Wall Street firms can make from the argument. The constant argument over the value of t...
Success was individual achievement; failure was a social problem.
I’m now convinced that the worst thing a man can do with a telephone without breaking the law is to call someone he doesn’t know and try to sell that person something he doesn’t want.
It’s what you fail to imagine that kills you.
Inside a dark pool, no one but the broker who ran it had any idea what was happening.
After the markets closed Vinny would get into his Cadillac and drive out to his big house in Long Island. Now there is the guy called Vladimir who gets into his jet and flies to his estate in Aspen fo...
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