Hedge Funds Lifestyle & Philanthropy

Yachts, oysters and asset backed cheerleading adorned a decidedly sunny ABS East conference on South Beach

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A resurrected John Devaney took the stage, while Lew Ranieri urged caution.

John Devaney's 125-foot yacht, the "Dorothy Ann" (named after his mother) docked across the street from the ABS East 2012 conference at the Fontainebleau Miami Beach.

It felt a lot like 2006 at the ABS East conference in Miami this week.

Onetime superstar trader John Devaney of United Capital Markets moderated a panel discussion on the housing market, his 125-foot yacht "Dorothy Ann" anchored across the street. Lead sponsor Morgan Stanley's party for investors at South Beach