Liar's Poker

by Michael Lewis

“When they ask you why you want to be an investment banker, you’re supposed to talk about the challenges, and the thrill of doing deals, and the excitement of working with such high-calibre people, but never, ever mention money.”

The astute investor Warren Buffett is fond of saying that any player unaware of the fool in the market probably is the fool in the market.

“In the stock market the more elaborate and abstruse the mathematics the more uncertain and speculative the conclusion we draw therefrom . . . Whenever calculus is brought in, or higher algebra, you could take it as a warning signal that the operator was trying to substitute theory for experience.”