[inaudible conversations] [inaudible conversations] if everyone could be seated, for those of you have it taken away knowledge very thrilled to be here and we recognize that we have a large audience. We are thankful for your presence. There he can and very you being here. Let me just check, it is they see it available for someone to take . [inaudible conversations] good afternoon. Im pam jackson, dirt at the library of congress are part of the National International outreach unit and we are very pleased to be with you today for this afternoons talk. A very exciting topic with a really great group of people. Should mention todays talk is part by the debut of ap africanamerican Cultural Association here at the library of congress and they will have a special part in our program that will be introduced shortly. I should mention that here for our extra audience for the most part to remind us internally the library of congress is their focus and should, desire to be recognized and provide t
Guy good morning. You are watching the pulse. We are right here in london. Im guy johnson. Europes Biggest Investment Bank, germanys biggest bank is racing for its biggest loss and a decade. Deutsche bank could scrap its dividend. Its boosting reserves for legal costs. Sounds like a bad thing. Ryan chilcote here with the details. We got a lot of bad news. It sounds really terrible. But stock is up. What is going on . Ryan the Immediate Reaction was negative. The stock is up. There is a giant competition going on. The balls the balls on the up. K the stock now why . A lot of people saying we thought when they did this announcement we were going to get a Capital Increase. The fact that the dividend is going to take a hit, is a do it is a positive. It increases the likelihood of a Capital Increase down the road. Analysts whonty of think a Capital Increase could happen here it happen. Ryan the second issue is take everything that was happening in the statement to the side, look at pretax p
Motion. Front is coming through dry. That moisture evaporated and new all we have is increase in clouds and wind and that should be about it. So forecast for today, the clouds will eventually decrease and then by afternoon it looks really nice. 70 degrees by 9 00. Lunchtime we are a at 74. 3 00 he clock 78. Then by 6 00, 75, increase in sunshine. Also an increase in the the wind. We are seeing that now. Sunsets the at seven credit 02 forecasting a high of 78. Lowering humidity levels. Speaking of lower humidity levels, look at this, all week long dew points in the lower 50s or 40s which is off the scale. That will feel like a breath of fresh air. It is feeling like fall. We have temperatures that will be staying in the 70s the the entire seven day forecast. That is first time in a very long time that i have been able to say that. When i come back in a few minutes we will see how long that cooler weather sticks around and if there is any chance of rain. Guys, back inside to you. Chris,
He was one of the people that was on the road we stayed unusually close to manager we found by doing that we had a greater understanding of their integrity of their investment philosophy their investment process and frankly most of the managers enjoyed it they like clients that have a thorough understanding but we didnt make it a policy that they shall employed holding we thought to our own Due Diligence be close to them we never had a blowup of the type you see thats been around the country and in addition commissioner some of the headline blows up that youve seen like madoff thats incredibly bad Due Diligence that people involved in madoff they were producing their own statements of their own investment values not a Third Party Custodian that was providing an annual audit so basically west ridge was another one managers claimed to out perform for one hundred and 20 straight months the odds were one hundred and 90 trillion. Well but the bottom line we in our situation we did not think
Not want that to be part find our motion i understand that but unless you set the guidelines and standards and give directions i dont know how you can move forward. I have a say you taking a vote on something a blue print you havent developed speaks volumes mr. Cokeer is paid millionaires thousands of dollars a year a blue print even awning an opportunity to be invited to the table to develop that burglary print as secretary i type rfps this plan should have been presented with all your consensus in place this is a failure just the way it was prepared be to you interest it mrrlg you were the main chairperson for the o 50 o 60 million loss for a plan for a hedge fund go ahead its a 61 million loss to the fund and commissioner paskinjordan you stated on record videotape it you r that you dont invest in hedge fund yet youre here promoting the hedge fund without a blue print or plan. Bryan what can i say you had lunch are a hedge fund person and took his recommendation leon you came in wit