Someone out there was using the fact that stock market orders arrived at different times at different exchanges to front-run orders from one market t… - Michael Lewis

You will be stupid. You will worry your parents. You will question your own choices, your relationships, your jobs, your friends, where you live, what you studied in college, that you were in college at all. If that happens, you're doing it right.

Incredibly, at this critical juncture in financial history, after which so much changed so quickly, the only constraint in the subprime mortgage market was a shortage of people willing to bet against it.

The longer-term the option, the sillier the results generated by the Black-Scholes option pricing model, and the greater the opportunity for people who didn't use it.