Join Early Retirement Today
Thread Tools Search this Thread Display Modes
Michael Lewis Article
Old 03-16-2010, 08:04 PM   #1
Thinks s/he gets paid by the post
Free To Canoe's Avatar
Join Date: May 2008
Location: Cooksburg,PA
Posts: 1,800
Michael Lewis Article

Michael Lewis has a new book out. He authored Liar's Poker and other financial tales.

While looking for it, I ran across this article which I thought informative and a good read. He makes it sound like he is inside the guy's head.

Betting on the Blind Side | Business | Vanity Fair

Full article is available for non-subscribers only for this month.

Free to canoe

Free To Canoe is offline   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 03-17-2010, 04:47 AM   #2
Recycles dryer sheets
Steve O's Avatar
Join Date: Dec 2007
Posts: 291
Thanks, that was a good read.

FIRED at 39 in 2008...
Steve O is offline   Reply With Quote
Old 03-17-2010, 07:35 AM   #3
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
donheff's Avatar
Join Date: Feb 2006
Location: Washington, DC
Posts: 9,614
Great read. I have been trying to reserve The Big Short at the library and was surprised they didn't have it since Lewis is being interviewed on all the talk shows. This article explains that: the book is coming out later this month.
Every man is, or hopes to be, an Idler. -- Samuel Johnson
donheff is offline   Reply With Quote
Old 03-17-2010, 09:48 AM   #4
Thinks s/he gets paid by the post
Leonidas's Avatar
Join Date: May 2006
Location: Where the stars at night are big and bright
Posts: 2,847
Great article. Burry's performance is a solid argument for not going along with the popular crowd at CNBC et. al.
There is no pleasure in having nothing to do; the fun is having lots to do and not doing it. - Andrew Jackson
Leonidas is offline   Reply With Quote
Old 03-17-2010, 10:02 AM   #5
Alan's Avatar
Join Date: Jul 2005
Location: N. Yorkshire
Posts: 25,437
Jon Stewart interviewed Michael Lewis recently - very entertaining.

Video: Michael Lewis | The Daily Show | Comedy Central
Retired in Jan, 2010 at 55, moved to England in May 2016
Enough private pension and SS income to cover all needs
Alan is offline   Reply With Quote
Old 03-17-2010, 11:44 AM   #6
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Brat's Avatar
Join Date: Feb 2004
Location: Portland, Oregon
Posts: 6,435
What I loved about the article is how a person leveraged his (dis)ability. His personal story is fascinating.

My daughter is a CFO. Lewis is speaking at their investors conference in a couple weeks. She said she would try to snag a signed copy of the book.

What was interesting about the 60 Minutes interviews is that they accused the industry essentially being stupid, acting against their employer's interests because of the design of the compensation system. As a retired HR professional I have seen executives attempt to negotiate (extort) better and better compensation agreements. The executive's goals do not necessarily align with the stock holders. One of the hottest chairs in a large business is that of Director of Comp.

My two cents, today.
Duck bjorn.
Brat is offline   Reply With Quote
Old 03-17-2010, 11:54 AM   #7
Thinks s/he gets paid by the post
walkinwood's Avatar
Join Date: Jul 2006
Location: Denver
Posts: 3,021
Excellent article. Thanks for sharing.

To me, it shows that markets are not efficient. Just because the information is all out there, doesn't mean that everyone has waded through it.

On the other hand, the article also shows why it is hard for a professional to exploit these inefficiencies & why you're not likely to get a reference to such people from your broker or your favorite investment rag. Also, did you notice the information on the last page?
By June 30, 2008, any investor who had stuck with Scion Capital from its beginning, on November 1, 2000, had a gain, after fees and expenses, of 489.34 percent. (The gross gain of the fund had been 726 percent.)
I buy into the indexing theory, but in practice have kept some actively managed funds (ironically, with very low turnover volumes) that have served me well for over a decade. I have stuck to indexes for new funds in the past few years.
walkinwood is offline   Reply With Quote
Old 03-17-2010, 11:56 AM   #8
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Moemg's Avatar
Join Date: Jan 2007
Location: Sarasota,fl.
Posts: 11,180
Thanks ,That was a great read !

Moemg is offline   Reply With Quote

Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Book report: Michael Lewis' "Panic! The story of modern financial insanity" Nords FIRE and Money 10 06-09-2009 07:12 PM
"Moneyball" by Michael Lewis mickeyd Other topics 2 05-17-2004 07:52 PM

» Quick Links

All times are GMT -6. The time now is 12:37 AM.
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2020, vBulletin Solutions, Inc.