Liar's Poker

by Michael Lewis

“Those who say don’t know, and those who know don’t say.” He was speaking specifically about the stock market.

Traders required market savvy. Salesmen required interpersonal skills.

LIBOR is an acronym for London Interbank Offered Rate; it is the interest rate in London at which one bank lends to another;

TED spread was the difference between the LIBOR rate and the interest rate on three-month US treasury bills.

when all investors were doing the same thing, he would actively seek to do the opposite.

God gave you eyes, plagiarise.

striking how little control we had of events, particularly in view of how assiduously we cultivated the appearance of being in charge