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In Bizarre Note, Quant Admits Blowing Up Clients, Then Says "Being Wrong No Reason To Change One's Stance"

In what is by far the most entertaining research report of the day, Canaccord quant Martin Roberge, essentially admits and apologizes for blowing up the bank's energy client returns in 2017 (with an endless long oil reco), but then - in a bizarre follow up - says that while Canaccord overweight rating on energy has been "costly and like many investors, we feel like throwing in the towel on the group. However, being wrong is not a good reason enough to change one’s stance."

Frontrunning: June 28

  • Global Bonds Sell Off, Sparking Fears of Further ‘Taper Tantrum’ (WSJ)
  • Facing revolt on healthcare, GOP senators delay vote (Reuters)
  • Global businesses dig out from latest cyber attack (Reuters)
  • Companies Work to Contain Fallout From Cyberattack (WSJ)
  • Cyber attack hits property arm of French bank BNP Paribas (Reuters)
  • Obama Choked on Russia Long Before the 2016 Election (BBG)
  • The EU May Need to Introduce a Bloc-Wide Tax After Brexit (BBG)
  • iPhone Anniversary Edition Gives Analysts Pre-Party Jitters (WSJ)

How America Armed Terrorists In Syria

Authored by Gareth Porter via TheAmericanConservative.com,

Three-term Congresswoman Tulsi Gabbard of Hawaii, a member of both the Armed Services and Foreign Affairs committees, has proposed legislation that would prohibit any U.S. assistance to terrorist organizations in Syria as well as to any organization working directly with them. Equally important, it would prohibit U.S. military sales and other forms of military cooperation with other countries that provide arms or financing to those terrorists and their collaborators.

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