A Vegas Trip Report will be forthcoming in the next several days, bu here's what caught my eye from the weekend reading:
"I offer one more piece of evidence that I think almost surely suggests that the end is near in this sector. While channel-surfing the other night, to the annoyance of my otherwise very patient wife, I came across a new television series on the Discovery Channel entitled 'Flip That House,'" economist David Stockton said, prompting a roomful of laughter according to the transcript. "As far as I could tell, the gist of the show was that with some spackling, a few strategically placed azaleas and access to a bank, you too could tap into the great real-estate wealth machine. It was enough to put even the most ardent believer in market efficiency into existential crisis. [Laughter]"
The Fed, the home of many of the most ardent believers in market efficiency, did not go through an existential crisis, however, and did little to slow down surging prices or warn consumers that "the end is near."
- 60 Minutes Piece: Billy Walters - Professional Sports Bettor. Cullen Roche has a markets analogy on this one too.
- Bloggers Quitting What They Call A Demanding Task with Few Rewards. I can definitely relate to this one!
Related: Felix Salmon: Why is Seeking Alpha Paying Its Contributors? I will have much more on this one in the coming days. EDIT: Felix has a new post about me specifically, based on some questions I sent him.
-The Epicurean Dealmaker on how banks don't actually exist solely to crush their clients.