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Speaking on Bloomberg TV, Michael Lewis referred to famed hedge funds manager and high stakes poker player David Einhorn as a “dumb tourist” in a casino.
Lewis is the author of “Flash Boys”, which delves into the risky world of high-frequency trading.
Lewis spoke to Bloomberg TV host Stephanie Ruhle.
Here a portion of that exchange:
LEWIS: Let me give you an analogy and I think is a very close analogy to the way the stock market is structured. It’s a casino analogy. So I have a casino and I want to start a poker game in the casino, so I get three card sharks and I tell them, go sit there and start the game. Make it look like a good game’s going on. There are no 4s, 9s, there are no queens in the deck. Only you will know that. And we will pay some tour group operators to bring like a bunch of dumb tourists in to pay with you. They won’t know. You’ll –
RUHLE: Hold on, a bunch of dumb tourists? So is David Einhorn is a dumb tourist?
LEWIS: Yes.
The full video can be viewed below.
- Ace King, Gambling911.com
