Michael Lewis on Wall Street's Future

What's behind the financial crisis and collapse of companies like AIG (NYSE: AIG  ) , Fannie Mae (NYSE: FNM  ) , Freddie Mac (NYSE: FRE  ) , and Merrill Lynch (NYSE: MER  ) ? How did hedge fund manager Steve Eisman manage to make huge money off the subprime train wreck? What will Wall Street look like in five years? And is the stock market still the place to be for long-term investors or is Berkshire Hathaway (NYSE: BRK-B  ) Chairman Warren Buffett's optimism misplaced? In this 30-minute audio interview, I put those questions to best-selling Liar's Poker author Michael Lewis, editor of the new anthology Panic: The Story of Modern Financial Insanity. For the text version of this interview, click here. (Please note: This interview is not downloadable.)

 

To read the transcript:

Mac Greer doesn't own any of the stocks discussed. Berkshire Hathaway is a Motley Fool Inside Value selection and a Stock Advisor selection. The Fool owns shares of Berkshire Hathaway. The Motley Fool is investors writing for investors.


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  • Report this Comment On November 27, 2008, at 6:45 AM, riley2379 wrote:

    By his own admission, Lewis knows very little about finance. Why do we care what he thinks?

  • Report this Comment On December 01, 2008, at 4:03 AM, JPV2008 wrote:

    Reading the article at portfolio.com, it becomes very apparent that NONE of the people in charge of these financial institutions even know anything about finance.

  • Report this Comment On December 05, 2008, at 7:19 PM, gjitsu1 wrote:

    "Why do we care what he thinks?" Not so much of what he thinks, but Michael Lewis is an entertaining writer. I liked his books in the past: Liars Poker, Moneyball, and Next. I don't think anyone wants to read this book for investment advice

  • Report this Comment On December 06, 2008, at 7:04 PM, lollefool wrote:

    I LOVED Michael Lewis article in Portfolio this month. He might not have known anything about Finance when he first started out, but he has learned alot more than most in his years on Wall Street.. He is a fun and enjoyable writer....unless he's writing about YOU I guess....

  • Report this Comment On December 07, 2008, at 3:53 AM, bizphool wrote:

    @riley2379: Lewis has undersold himself by saying he knows 'nothing' about finance...because he knows an incredible amount about psychology, he knows all we need him to know about finance!

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