In his typical witty tone, Wall Street’s favorite bond trader-turned-journalist Michael Lewis preaches how to leave your job at one of the Big Uglies, where to hide out once you’ve left, and how to act once you’ve accomplished the first two.

The first thing you need to know about recessions is that they don't signal the end of anything on Wall Street.

They're more like a red flag during a Formula One race: The cars coast gently around the track until the wreckage is cleared whereupon they all roar off as if the accident never happened. The difference is that, on Wall Street, it's possible to make the disaster work for you.

You can inch your car quietly forward so, when the race recommences, you're its surprise leader.

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