Michael Lewis Iconic Investor Insight of the week

For the week of July 25th

Today’s iconic investor insight comes from Michael Lewis. Mr Lewis started his career, after attending the London School of Economics, at Salomon Brothers selling bonds. His experience at Salomon motivated him to write his first book, Liar’s Poker in 1989. He then went on to write about high frequency trading (Flash Boys), the tech industry (The New New Thing), the 07-08 mortgage crisis (The Big Short), behavioral economics (The Undoing Project) and baseball (Moneyball).

Today’s quote comes from page 223 of Michael’s book, Liar’s Poker.

“The markets in the long run are no doubt driven by fundamental economic laws—if the United States runs a persistent trade deficit, the dollar will eventually plummet—but in the short run money flows less rationally. Fear and, to a lesser extent, greed are what make money move.”

-Michael Lewis