Tuesday, April 18, 2006
The Market is a Strange Place
This is fascinating. Canadian Kyle MacDonald has, over the course of a year and several trades, managed to trade a red paper clip for one year of housing in Phoenix. His goal is to ultimately get a house. The internet really is remarkable. Honestly, I am supposed to understand markets, but I am not sure how to think about this. Do we believe that he could have sold the red paper clip on eBay, taken the earnings and bought something else (not on eBay), sold that on eBay, and so on and reached the same point? If not, what is going on?
// posted by BW @ 9:28 AM 
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