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Please see email link to the April, 2014 Emerging Growth Debt, Part II: When It’s Heading South: Insolvency and Related Considerations – Maximizing Enterprise Value

webcast-emerging-companies

WEBCAST LINK: http://w.on24.com/r.htm?e=931038&s=1&k=B6B60768B021450AC7A583EBC7C9676F

The webcast is sponsored by Latham & Watkins and the panelists are:

Program
In this 60-minute webcast, Latham & Watkins partner Peter M. Gilhuly, Steven R. Gerbsman, Principal of Gerbsman Partners and Manuel A. Henriquez, Founder, Chairman and CEO of Hercules Technology will provide a brief overview of distressed venture deal issues and solutions.

These three leading experts will give an executive overview of what to do when a venture company is distressed.

Topics
· Maximizing Enterprise Value
· Fiduciary Duty Issues
· Working Out Venture Deals
· Resolution Without Insolvency Process
· Out of Court Shut Down of Operations vs. ABCs

Speakers
Peter M. Gilhuly, Partner, Latham & Watkins LLP
Steven R. Gerbsman, Principal, Gerbsman Partners
Manuel A. Henriquez, Founder, Chairman and CEO, Hercules Technology Growth Capital
Sponsor
Latham & Watkins LLP is a leading global law firm dedicated to working with clients to help them achieve their business goals and overcome legal challenges anywhere in the world. The firm has earned considerable market recognition based on a record of landmark matters and a unified culture of innovation and collaboration. From a global platform of offices covering the world’s major financial, business and regulatory centers, the firm’s lawyers help clients succeed. For more information, visit http://www.lw.com

 

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Bubble fears just hit their highest level on record

More investors are worried about overvalued stocks and bonds than at any time in at least the past 12 years.

That’s the message from Bank of America Merrill Lynch’s latest survey of fund managers, which polls 145 participants managing a combined $494 billion (£337.4 billion) in assets on how they feel about a bunch of different investments.

Investors on the panel who think both stocks and bonds are overvalued outnumber those who don’t by 54%, the highest disparity since the series began in 2003. Concerns among the panel about a bubble specifically in stocks are at their highest level since records began in 2000.

Here’s how that looks:

stock bond bubble BAMLBAML

There are two other big moves in the BAML survey. More investors now think the dollar is overvalued than at any time since 2009:

dollar overvalued BAMLBAML

And they think the euro is more undervalued than at any time in the past 12 years:

euro undervalued BAMLBAML

The euro has fallen from just over $1.38 this time last year to below $1.06 — but these graphs suggest that plunge may be winding down.

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21 things you didn’t know your iPhone could do

iphone 6 and 6 plusJustin Sullivan/Getty Images

We’re nearly attached to our iPhones — we use them all day everyday, but you may be surprised to learn there are still a handful of things it can do that you probably didn’t know about.

Some of these features are buried in the Settings menu while others are hidden in plain sight.

(Note: Some of these features may only be available in iOS 8 and higher)

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JAMIE DIMON: ‘There will be another crisis’

jamie dimonReutersThe JPMorgan Chase CEO broke down the anatomy of a financial crisis.

In his annual letter to JPMorgan Chase shareholders, CEO Jamie Dimon has a clear warning:

Some things never change — there will be another crisis, and its impact will be felt by the financial markets.

Dimon adds that the trigger of the next financial crisis will not be the same as the most recent one, but no matter — another crisis will come.

And how it unravels will not be as unfamiliar as we might expect.

“While crises look different, the anatomy of how they play out does have common threads,” Dimon writes.

Here are the core behaviors investors exhibit when these crises break out, according to Dimon.

  • First, they sell the assets they believe are at the root of the problem.
  • Second, they generally look to put more of their money in havens, commonly selling riskier assets like credit and equities and buying safer assets by putting deposits in strong banks, buying Treasuries, or purchasing very safe money market funds.
  • Often at one point in a crisis, investors can sell only less risky assets if they need to raise cash because, virtually, there may be no market for the riskier ones.

And what’s more, no investor is truly safe in a crisis. Here’s Dimon:

These investors include individuals, corporations, mutual funds, pension plans, hedge funds — pretty much everyone — each individually doing the right thing for themselves but, collectively, creating the market disruption that we’ve witnessed before. This is the “run-on-the-market” phenomenon that you saw in the last crisis.

Dimon continues his discussion of what the next crisis could look like by breaking down how banks’ balance sheets had changed since the financial crisis.

Banks now hold 100% of liquid assets against potential cash outflows, and Dimon says no bank will want to be the first to admit that its liquidity coverage ratio has declined for fear of looking weak.

Dimon also says that investors will want to buy Treasuries because they are considered safe, but with Treasury supply declining, investors will have to find other places to put their capital.

Read Dimon’s full thoughts on the next crisis in his letter to shareholders here »

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webcast-emerging-companies

Latham & Watkins LLP
A COMPLIMENTARY 60-MINUTE WEBCAST
Emerging Growth Debt, Part II: When It’s Heading South: Insolvency and Related Considerations – Maximizing Enterprise Value

Tuesday, April 14, 2015

10:00 a.m. Pacific | Noon Central | 1:00 p.m. Eastern
Program
In this 60-minute webcast, Latham & Watkins partner Peter M. Gilhuly, Steven R. Gerbsman, Principal of Gerbsman Partners and Manuel A. Henriquez, Founder, Chairman and CEO of Hercules Technology will provide a brief overview of distressed venture deal issues and solutions.

These three leading experts will give an executive overview of what to do when a venture company is distressed.

Topics
· Maximizing Enterprise Value
· Fiduciary Duty Issues
· Working Out Venture Deals
· Resolution Without Insolvency Process
· Out of Court Shut Down of Operations vs. ABCs

Speakers
Peter M. Gilhuly, Partner, Latham & Watkins LLP
Steven R. Gerbsman, Principal, Gerbsman Partners
Manuel A. Henriquez, Founder, Chairman and CEO, Hercules Technology Growth Capital

REGISTER HERE – click here

A confirmation email will be sent upon completing your registration.

Questions?
Contact: Michele.Bravo@lw.com +1.213.892.3054
Trouble accessing the registration link?
Simply copy and paste this link into your
internet browser:
http://w.on24.com/r.htm?e=931038&s=1&k=
B6B60768B021450AC7A583EBC7C9676F

MCLE Credit
Latham & Watkins certifies that this activity has been approved for MCLE credit by (i) the State Bar of California in the amount of 1.00 hour of general credit, (ii) the MCLE Board of the Supreme Court of Illinois in the amount of 0.75 hour of general credit, (iii) the Board on Continuing Legal Education of the Supreme Court of New Jersey for 1.20 hours of total general CLE credit, and (iv) the State Bar of Texas Committee on MCLE in the amount of 1.00 hour of general credit. An application for approval for this program will be submitted to the Virginia Mandatory Continuing Legal Education Board after the program.

Sponsor
Latham & Watkins LLP is a leading global law firm dedicated to working with clients to help them achieve their business goals and overcome legal challenges anywhere in the world. The firm has earned considerable market recognition based on a record of landmark matters and a unified culture of innovation and collaboration. From a global platform of offices covering the world’s major financial, business and regulatory centers, the firm’s lawyers help clients succeed. For more information, visit www.lw.com

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