Quotes

Quotes by Michael Lewis

(3)
(165) "Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds, and private equity funds, is an elaborate fraud."
Dec-07
- Conde Nast Portfolio, The Evolution of an Investor, page 184
(166) "Nobody knows which company will prove a good long-term investment. Even Buffett's genius lies more in running businesses than in picking stocks. But in the investing world, that is ignored. Wall Street, with its army of brokers, analysts, and advisers funneling trillions of dollars into mutual funds, hedge funds and private equity funds, is an elaborate fraud."
Dec-07
(167) "A vast industry of stockbrokers, financial planners, and investment advisers skims a fortune for themselves off the top in exchange for passing their clients' money on to people who, as a whole, cannot possibly outperform the market."
Dec-07
- "The Evolution of an Investor," Conde Naste Portfolio