My Characters Are Actually Usually Pretty Smart

He's A Machine For Competitive Balance, ... Yes, The Money Is In New York. Yes, The Money Is In His Hands. But He Squanders Money. Thank God For It.

That Was How A Salomon Bond Trader Thought: He Forgot Whatever It Was That He Wanted To Do For A Minute And Put His Finger On The Pulse Of The Market. If The Market Felt Fidgety, If People Were Scared Or Desperate, He Herded Them Like Sheep Into A Corner, Then Made Them Pay For Their Uncertainty. He Sat On The Market Until It Puked Gold Coins. Then He Worried About What He Wanted To Do.

The Cdo Was, In Effect, A Credit Laundering Service For The Residents Of Lower Middle Class America. For Wall Street It Was A Machine That Turned Lead Into Gold.

A Credit Default Swap Was Confusing Mainly Because It Wasn't Really A Swap At All. It Was An Insurance Policy, Typically On A Corporate Bond, With Semiannual Premium Payments And A Fixed Term.

People In Both Fields Operate With Beliefs And Biases. To The Extent You Can Eliminate Both And Replace Them With Data, You Gain A Clear Advantage.