book the richest team in professional baseball, the New York Yankees, was then spending about 120 million on its 25 players. A year and science essay on recent findings a half later Salomon Brothers was handing me a check for hundreds of thousands of dollars to give advice about derivatives to professional investors. And no one noticed until it paid a poor team so well to notice that they could not afford not to notice.
Princeton, university 's 2012 Baccalaureate Remarks
Michael, lewis at, princeton, university, 2012 : The Best Commencement
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Michael, lewis 2012 Commencement Speech to, princeton (Full Transcript)
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At that moment I was sure of only one thing: I was of no possible economic value to the outside world. This had been going on for a century. A few years ago, just a few blocks from my home, a pair of researchers in the Cal psychology department staged an experiment. They had statistics attached to everything they did. I want you to understand just how mysterious careers can be, before you go out and have one yourself. Site highlights each day to your inbox. There are poor teams and rich teams in professional baseball, and they spend radically different sums of money on their players. Every team member obviously got one cookie, but that left a fourth cookie, just sitting there.