Michael Lewis on the financial collapse  SEP 22 2008

Michael Lewis looks on the bright side of the current financial crisis and finds five positive aspects.

Our willingness to believe that we can hire some expert to tell us how to outperform markets is a big problem, with big consequences. It underpins Wall Street's brokerage operations, for instance, and leads to a lot more people giving out financial advice than should be giving out financial advice. Thanks to the current panic many Americans have learned that the experts who advise them what to do with their savings are, at best, fools.

God I hope he writes a book about all this someday, sort of a Liar's Poker 2. He can call it Fool's Roulette or something.

Read more posts on kottke.org about:
books   finance   Liars Poker   Michael Lewis   money

kottke.org

Front page
About + contact
Site archives

Subscribe

Follow kottke.org on Twitter

Follow kottke.org on Tumblr

Like kottke.org on Facebook

Subscribe to the RSS feed

Advertisement

Ads by The Deck

Support kottke.org shop at Amazon

And more at Amazon.com

Looking for work?

More at We Work Remotely

Kottke @ Quarterly

Subscribe to Quarterly and get a real-life mailing from Jason every three months.

 

Enginehosting

Hosting provided EngineHosting