Monday, October 15, 2018 Text is available under the CC BY-SA 3.0 licence.

Michael Lewis

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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.
--
Chapter Two, In the Land Of The Blind, p. 35

 
Michael Lewis

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One of the first things they teach stockbrokers is to stay out of the stock market. Brokers make their pile from selling advice, and from commissions on stock transactions. They can't predict the market, and few risk their own money. They, at least, only affect their clients' fortunes. Economists, though, can ruin the lot of us with their advice yet if no science can predict a relatively closed system like the stock market, how the devil are you going to 'fine tune' something a large as the American economy? I'd think it arrogant to try; as arrogant as the man with three illiterate drug-addicted spoiled brats writing a book on parenting.

 
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The most important thing I have done is to combine something esoteric with a practical issue that affects many people. In this spirit, the stock market is one of the most attractive things imaginable. Stock-market data is abundant so I can check everything. Financial markets are very influential and I want to be part of this field now that it is maturing.

 
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Civilization slipped into its second dark age on an unsurprising track of blood, but with a speed that could not have been foreseen by even the most pessimistic futurist. It was as if it had been waiting to go. On October 1, God was in His heaven, the stock market stood at 10,140, and most of the planes were on time (except for those landing and taking off in Chicago, and that was to be expected). Two weeks later the skies belonged to the birds again and the stock market was a memory. By Halloween, every major city from New York to Moscow stank to the empty heavens and the world as it had been was a memory.

 
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