1
The secret to doing good research is always to be a little underemployed. You waste years by not being able to waste hoursMichael Lewis
2
A lot of what people did and said when they "predicted" things, Morey now realized, was phony: pretending to know things rather than actually knowing things. There were a great many interesting questions in the world to which the only honest answer was, "It's impossible to know for sure".Michael Lewis
3
After seeing a movie that dramatizes nuclear war, they worried more about nuclear war; indeed, they felt that it was more likely to happen. The sheer volatility of people's judgement of the odds--their sense of the odds could be changed by two hours in a movie theater--told you something about the reliability of the mechanism that judged those odds.Michael Lewis
4
Stories people told themselves were biased by the availability of the material used to construct them..what people remember about the past, [Kahneman and Tversky] suggested, is likely to warp their judgement of the future. "We often decide that an outcome is extremely unlikely or impossible, because we are unable to imagine any chain of events that could cause it to occur. The defect, often, is in our imagination.Michael Lewis
5
You need to be so careful when there is one simple diagnosis that instantly pops into your mind that beautifully explains everything all at once. That's when you need to stop and check your thinking... Beware of the delirious guy in the emergency unit with the long history of alcoholism, because you will say, 'He's just drunk, ' and you'll miss the subdural hematoma.Michael Lewis
6
The trait [Morey] looked for was awareness that they were seeking answers to questions with no certain answers--that they were inherently fallible. "I always ask them, 'Who did you miss?'" he said. Which future superstar had they written off, or which future bust had they fallen in love with? "If they don't give me a good one, I'm like, 'Fuck 'em.Michael Lewis
7
Crucial decisions are made, today as thousands of years ago, in terms of the intuitive guesses and preferences of a few men in positions of authority...[it is] quite likely that the fate of entire societies may be sealed by a series of avoidable mistakes committed by their leaders.Michael Lewis
8
People who think they know what they are talking about when they talk about baseball include the announcers and all of the sports press - no matter how much evidence you present them to the contrary they will continue to think that what they think is right.Michael Lewis