Warren Buffett, a highly regarded investor, emphasizes the importance of being aware of one's surroundings in the market. His saying highlights the notion that if someone is oblivious to the potential for being taken advantage of or outsmarted, they may very well be the one being fooled. This serves as a reminder to all investors to remain vigilant and critical of their decisions.

In Michael Lewis's book "Liar's Poker," this quote underscores the prevailing dynamics within financial markets, where knowledge and awareness are crucial. It suggests that investment success doesn't just stem from strategy but also from an understanding of market psychology and the behavior of others, advising investors to stay alert to the risks around them.