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How Michael Lewis invests in the market

Michael Lewis, whose book "Flash Boys" stirred up controversy on Wall Street, said Monday that when it comes to investing he is really "boring."

The author said he invests in index funds and Berkshire Hathaway, which he called his "hedge."

"I figure if things really go bad, [Warren Buffet's] going to be sitting there with a pile of cash buying up bargains on really good terms," Lewis said in an interview with "Power Lunch."

In "Flash Boys," Lewis argued the market was rigged in favor of high-frequency traders, who use sophisticated computer algorithms to execute orders at very fast speeds. It caused a heated debate over the merits of the system. On Monday, he said he still believes the market is rigged.

Read More'Flash Boys' Michael Lewis: Markets still rigged

Michael Lewis, author of Flash Boys.
Adam Jeffery | CNBC
Michael Lewis, author of Flash Boys.

However, when it comes to his own personal investing, he said he tries not to think about the markets too much.

"The decision I make is how much is in the stock market, and that's it," Lewis said. "I try not to think about it at all."

He said Wall Street has changed in 25 years since he first tackled the subject in his book "Liar's Poker," which was based partly on his experience working as a bond salesman.

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One big transformation has been technology.

"The geeks have taken over," he said. "Technology has overwhelmed."

Lewis thinks that has also led to the market's becoming more complicated.

"That you cannot explain the stock market to my mother is a problem. I could have explained it 25 years ago," he said.

Back then, there were also partnerships and some sense of loyalty.

Now, "this free agent model is a disaster," he said. "The best possible way to structure risk-taking enterprises is partnerships, where the people there are on the line."