Sunday, July 6, 2008

Market Humor from Michael Lewis

Michael Lewis is one of my favorite writers. He wrote Moneyball, Liars Poker and The New New Thing. He has a great tongue in cheek article on Wall Street's reaction to the recession. A playbook of sorts.

One of my favorite lines:

No Safety in Numbers

There's seldom any safety in numbers, and the more parlous the situation, the more dangerous it is to be in it with a lot of other people. London during an outbreak of the bubonic plague, the Superdome during Hurricane Katrina, the New Jersey suburbs: People are always clustering together precisely where and when they should not.

In World War I, hordes of men charged directly into machine- gun fire, no doubt reassured that they weren't alone.

No, if you want to win the recession, you need to find a hole and crawl inside it, until the shooting stops. This hole is called a HEDGE FUND.

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