Strobe Effect
 

How do you create a simple strobe effect in Vegas? I'm surprised it's not under FX, even basic editors have this effect.

Right-click the video event, select Properties and lower the Undersample rate.
Try 0.25 to see what happens and adjust from there.

Hurrah! Thanks very much :)

Ok, that's a nifty way to do it. I've done it the old fashioned way as well because I wanted the strobe to hit the beat of the music. I created a bunch of white events in short 1 sec lengths, then I selected 5 or so, then hit ctrl-v until I had the number I wanted, then I took the one's out that were not on beat. Yeah, I know it sounds a little nooby, but it worked.