In "The Big Short: Inside the Doomsday Machine," Michael Lewis draws an analogy between Wall Street investment banks and Las Vegas casinos. He explains that investment banks control the financial environment, much like casinos dictate the odds of their games. This means that individual investors, while they might experience occasional wins, are unlikely to achieve consistent success against these powerful institutions.

Lewis emphasizes that just as no player can systematically beat a casino and cause its downfall, retail investors can’t expect to outsmart investment banks in the long run. The inherent structure of financial markets ensures that the banks maintain an advantage, making it nearly impossible for individual players to win significantly without facing eventual loss.