Why Hedge Funds Are Failing Right Now - Business Insider

Over the last several weeks Wall Street has learned a powerful and painful lesson: Sometimes nothing is safe.

Call them what you want to ? Top Dogs, Smart Money, Heavyweights ? these are the kings, and their castles are crumbling.

Funds that looked bulletproof are getting smoked.

Ray Dalio's famous 'All Weather' fund is down 8% for the year. The top performer of 2012 is down 5.66% for the year as of last week.

Market gurus may try to make what's happening sound complicated, but it's really not. In fact, what's going on can be explained in two big market and investing themes. The first theme is the overall effect of the Federal Reserve's change in policy and what it's doing to risk across asset classes. The second theme is an age-old debate about how people should structure their investments in general.

First the Fed. After Bernanke announced that the Fed would gradually reduce purchase of Treasuries, the market has become unrecognizable. Interest rates on the 10-year Treasury note have leaped to 2.5% from 1.93% in early May.

Investors are selling bonds like crazy, and hedge funds with exposure to credit markets ? like Metacapital Management, the best performer of 2012 which made mortgage backed arbitrage its cornerstone? ? are suddenly losers. Bond mutual funds and exchange traded funds (ETFs) have seen record monthly redemptions of $61.7 billion through June 24th, according to Bloomberg.

Meanwhile, the stock market has been a whipsaw. In early April the S&P 500 hit 2007 highs (1575), climbing steadily until Bernanke's speech on the 19th, when it decided to take us all on a ride. That's when if fell and kept falling almost 5%. At the beginning of last week traders were starting to think this was the new normal, and then all of a sudden, over the past three days the S&P rallied 2.7%.

This is the return of volatility. It had been kept bottled up, and now it's on the loose to wreak havoc on investors who thought they knew what they were doing.

As U.K. hedge fund manager Hugh Hendry put it in a note (via Zero Hedge):

The invisible regime of low volatility and low correlations that had been so supportive of risk markets for at least the last year started to become unhinged... As cross-asset correlations rose, the Fund became less diversified.

What that means in plain English is that assets that once had nothing to do with one another started exhibiting the same behaviors. Hendry' fund is down 2.1%. Some of the calls that he made earlier this spring, like going long Japanese equities, turned against him.

That brings us to the second theme ? the debate about investing being played out in markets right now.

It goes something like this: Old school portfolio managers like Jack Bogle's Vanguard maintain that a 60/40 portfolio (60% stocks, 40% bonds) will serve you well. The newer breed of high-powered hedge fund managers think differently. They argue that a 60/40 strategy puts too much risk (and thus the portfolio's success) into equities.

That's why Dalio created the first "risk parity" fund (yes, the All Weather) in 1996. Ideally, it spreads risk evenly across one's portfolio by using leverage to amp up traditionally secure assets (like bonds) and deemphasizing more volatile assets like stocks.

You can imagine how that wouldn't work in this market.

From Reuters:

Bridgewater created a portfolio based on two of the four basic economic scenarios: rising growth, falling growth, rising inflation, falling inflation. Different types of assets do well in each of these scenarios and the all-weather portfolio contemplates spreading its risk evenly.

After Bernanke made his statement, those economic scenarios fell apart as stock and bond prices fell together. Now that stocks are making their way up and 10-year Treasury bonds are still yielding 2.4%, risk parity still isn't the answer.

Meanwhile, the $19.5 billion Vanguard Balanced Index Fund, which uses the 60/40 method is up 5.48% this year through June 24th, according to Investment News.

Timing is everything, and if you called this, you're smarter than a lot of brilliant people.

Or you're just lucky ... this is investing after all.

Source: http://www.businessinsider.com/why-hedge-funds-are-failing-right-now-2013-6

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Obama suggests spying on nations' allies is common

FILE - This June 17, 2013 file photo shows President Barack Obama meeting with Russian President Vladimir Putin in Enniskillen, Northern Ireland. President Barack Obama brushed aside sharp European criticism on Monday, suggesting all nations spy on each other, as the French and Germans expressed outrage over alleged U.S. eavesdropping on European Union diplomats. American analyst-turned-leaker Edward Snowden, believed to be stranded for the past week at Moscow?s international airport, applied for political asylum to remain in Russia. (AP Photo/Evan Vucci, File)

FILE - This June 17, 2013 file photo shows President Barack Obama meeting with Russian President Vladimir Putin in Enniskillen, Northern Ireland. President Barack Obama brushed aside sharp European criticism on Monday, suggesting all nations spy on each other, as the French and Germans expressed outrage over alleged U.S. eavesdropping on European Union diplomats. American analyst-turned-leaker Edward Snowden, believed to be stranded for the past week at Moscow?s international airport, applied for political asylum to remain in Russia. (AP Photo/Evan Vucci, File)

Russian President Vladimir Putin attends the Gas Exporting Countries Forum (GECF) in the Kremlin in Moscow, Monday, July 1, 2013. (AP Photo/Ivan Sekretarev, Pool)

In this photo taken on Monday, June 24, 2013, shows a view of Moscow's Airport Sheremetyevo, terminal E, with a hotel for transit passengers at the transit zone inside. Leaker Snowden has been caught in legal limbo in the transit zone of Moscow's Sheremetyevo airport since his arrival from Hong Kong on June 23. The U.S. has annulled his passport, and Ecuador, where he has hoped to get asylum, says it may take months to rule on his case. Russia's President Vladimir Putin said Monday, July 1, 2013, that Snowden will have to stop leaking U.S. secrets if he wants to get asylum in Russia, but added that Snowden has no plan to stop leaking. (AP Photo/Alexander Zemlianichenko Jr)

FILE - In this file photo taken Friday, June 28, 2013, a Russian supporter of National Security Agency leaker Edward Snowden holds a poster outside Sheremetyevo airport in Moscow. Leaker Snowden has been caught in legal limbo in the transit zone of Moscow's Sheremetyevo airport since his arrival from Hong Kong on June 23. The U.S. has annulled his passport, and Ecuador, where he has hoped to get asylum, says it may take months to rule on his case. Russia's President Vladimir Putin said Monday, July 1, 2013, that Snowden will have to stop leaking U.S. secrets if he wants to get asylum in Russia, but added that Snowden has no plan to stop leaking. (AP Photo/Sergei Grits, File)

Russian President Vladimir Putin, right, and Bolivian President Evo Morales, second right, attend the Gas Exporting Countries Forum (GECF) in the Kremlin in Moscow, Monday, July 1, 2013. (AP Photo/Maxim Shemetov, Pool)

WASHINGTON (AP) ? President Barack Obama brushed aside sharp European criticism on Monday, suggesting that all nations spy on each other as the French and Germans expressed outrage over alleged U.S. eavesdropping on European Union diplomats. American analyst-turned-leaker Edward Snowden, believed to still be at Moscow's international airport, applied for political asylum to remain in Russia.

Russian President Vladimir Putin, in a statement he acknowledged sounded odd, told reporters in Moscow that Snowden would have to stop leaking U.S. secrets if he wanted asylum in Russia ? and he added that Snowden seemed unwilling to stop publishing leaks of classified material. At the same time, Putin said that he had no plans to turn over Snowden to the United States.

Obama, in an African news conference with Tanzanian President Jakaya Kikwete, said the U.S. would provide allies with information about new reports that the National Security Agency had bugged EU offices in Washington, New York and Brussels. But he also suggested such activity by governments would hardly be unusual.

"We should stipulate that every intelligence service ?not just ours, but every European intelligence service, every Asian intelligence service, wherever there's an intelligence service ? here's one thing that they're going to be doing: They're going to be trying to understand the world better, and what's going on in world capitals around the world," he said. "If that weren't the case, then there'd be no use for an intelligence service."

The latest issue concerns allegations of U.S. spying on European officials in the German news weekly Der Spiegel. French President Francois Hollande on Monday demanded that the U.S. immediately stop any such eavesdropping and suggested the widening controversy could jeopardize next week's opening of trans-Atlantic trade talks between the United States and Europe.

"We cannot accept this kind of behavior from partners and allies," Hollande said on French television.

German government spokesman Steffen Seibert told reporters in Berlin, "Eavesdropping on friends is unacceptable." He declared, "We're not in the Cold War anymore."

Even before the latest disclosures, talks at the upcoming free-trade sessions were expected to be fragile, with disagreements surfacing over which items should be covered or excluded from an agreement. The United States has said there should be no exceptions. But France has called for exempting certain cultural products, and other Europeans do not appear eager to give up longtime agricultural subsidies.

Obama said the Europeans "are some of the closest allies that we have in the world." But he added, "I guarantee you that in European capitals, there are people who are interested in, if not what I had for breakfast, at least what my talking points might be should I end up meeting with their leaders. That's how intelligence services operate."

Nonetheless, Obama said he'd told his advisers to "evaluate everything that's being claimed" and promised to share the results with allies.

Meanwhile, the Interfax news agency said a Russian consular official has confirmed that Snowden had asked for asylum in Russia.

Interfax cited Kim Shevchenko, the duty officer at the Russian Foreign Ministry's consular office in Moscow's Sheremetyevo airport, as saying that Snowden's representative, Sarah Harrison, handed over his request on Sunday.

Snowden, in legal limbo, is believed to have been in the airport's transit zone since his arrival from Hong Kong on June 23. The U.S. has annulled his passport, and Ecuador, where he has hoped to get asylum, has been giving off mixed signals about offering him shelter.

"If he wants to go somewhere and there are those who would take him, he is welcome to do so," Putin said. "If he wants to stay here, there is one condition: He must stop his activities aimed at inflicting damage on our American partners, no matter how strange it may sound coming from my lips."

Obama said "there have been high-level discussions with the Russians" about Snowden's situation.

"We don't have an extradition treaty with Russia. On the other hand, you know, Mr. Snowden, we understand, has traveled there without a valid passport, without legal papers. And you know we are hopeful that the Russian government makes decisions based on the normal procedures regarding international travel and the normal procedures regarding international travel and the normal interactions that law enforcement has. So I can confirm that."

Putin didn't mention any Snowden effort to seek asylum in Russia, and spokesman Dmitry Peskov declined to say what the Russian response might be. Putin insisted that Snowden wasn't a Russian agent and that Russian security agencies hadn't contacted him.

Three U.S. officials, speaking on condition of anonymity because they weren't authorized to publicly discuss the Snowden case, said Washington's efforts were focused primarily on persuading Russia to deport Snowden either directly to the United States or to a third country, possibly in eastern Europe, that would then hand him over to U.S. authorities.

In a sign of the distrust the latest report had revealed, the German government said it had launched a review of its secure government communications network and the EU's executive, the European Commission, ordered "a comprehensive ad hoc security sweep."

U.S. Secretary of State John Kerry said Monday he didn't know the details of the allegations, but he still played them down, maintaining that many nations undertake various activities to protect their national interests. Kerry failed to quell the outrage from allies, including France, Germany and Italy.

A spokesman for Herman Van Rompuy, the president of the European Council, said, "The European Union has demanded and expects full and urgent clarification by the U.S. regarding the allegations."

According to Der Spiegel's report, which it said was partly based on information leaked by Snowden, NSA planted bugs in the EU's diplomatic offices in Washington and infiltrated the building's computer network. Similar measures were taken at the EU's mission to the United Nations in New York, the magazine said.

It also reported that NSA used secure facilities at NATO headquarters in Brussels to dial into telephone maintenance systems that would have allowed it to intercept senior officials' calls and Internet traffic at a key EU office nearby.

As for Snowden, White House national security spokeswoman Caitlin Hayden said the White House won't comment on specific asylum requests but reiterated its message to all countries that he "needs to be expelled back to the U.S. based on the fact that he doesn't have travel documents and the charges pending against him."

Regarding possible effects on U.S. interactions with Russia, she said it remains the case "that we don't want this issue to negatively impact the bilateral relationship."

___

Associated Press writers Vladimir Isachenkov in Moscow, Sarah DiLorenzo in Paris, Frank Jordans and Geir Moulson in Berlin, Elena Becatoros in Athens, Raf Casert in Brussels, Deb Riechmann in Brunei, Nicole Winfield in Rome, Julie Pace in Dar es Salaam, Tanzania, and Matthew Lee in Washington contributed to this report.

Associated Press

Source: http://hosted2.ap.org/APDEFAULT/cae69a7523db45408eeb2b3a98c0c9c5/Article_2013-07-01-NSA%20Surveillance/id-ff817bc0d87a40a99ea29de9675766a9

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The quantum secret to alcohol reactions in space

June 30, 2013 ? Chemists have discovered that an 'impossible' reaction at cold temperatures actually occurs with vigour, which could change our understanding of how alcohols are formed and destroyed in space.

To explain the impossible, the researchers propose that a quantum mechanical phenomenon, known as 'quantum tunnelling', is revving up the chemical reaction. They found that the rate at which the reaction occurs is 50 times greater at minus 210 degrees Celsius than at room temperature.

It's the harsh environment that makes space-based chemistry so difficult to understand; the extremely cold conditions should put a stop to chemical reactions, as there isn't sufficient energy to rearrange chemical bonds. It has previously been suggested that dust grains -- found in interstellar clouds, for example -- could lend a hand in bringing chemical reactions about.

The idea is that the dust grains act as a staging post for the reactions to occur, with the ingredients of complex molecules clinging to the solid surface. However, last year, a highly reactive molecule called the 'methoxy radical' was detected in space and its formation couldn't be explained in this way.

Laboratory experiments showed that when an icy mixture containing methanol was blasted with radiation -- like would occur in space, with intense radiation from nearby stars, for example -methoxy radicals weren't released in the emitted gases. The findings suggested that methanol gas was involved in the production of the methoxy radicals found in space, rather than any process on the surface of dust grains. But this brings us back to the problem of how the gases can react under extremely cold conditions.

"The answer lies in quantum mechanics," says Professor Dwayne Heard, Head of the School of Chemistry at the University of Leeds, who led the research.

"Chemical reactions get slower as temperatures decrease, as there is less energy to get over the 'reaction barrier'. But quantum mechanics tells us that it is possible to cheat and dig through this barrier instead of going over it. This is called 'quantum tunnelling'."

To succeed in digging through the reaction barrier, incredibly cold temperatures -- like those that exist in interstellar space and in the atmosphere of some planetary bodies, such as Titan -- are needed. "We suggest that an 'intermediary product' forms in the first stage of the reaction, which can only survive long enough for quantum tunnelling to occur at extremely cold temperatures," says Heard.

The researchers were able to recreate the cold environment of space in the laboratory and observe a reaction of the alcohol methanol and an oxidising chemical called the 'hydroxyl radical' at minus 210 degrees Celsius. They found that not only do these gases react to create methoxy radicals at this incredibly cold temperature, but that the rate of reaction is 50 times faster than at room temperature.

To achieve this, the researchers had to create a new experimental setup. "The problem is that the gases condense as soon as they hit a cold surface," says Robin Shannon from the University of Leeds, who performed the experiments. "So we took inspiration from the boosters used for the Apollo Saturn V rockets to create collimated jets of gas that could react without ever touching a surface."

The researchers are now investigating the reactions of other alcohols at very cold temperatures. "If our results continue to show a similar increase in the reaction rate at very cold temperatures, then scientists have been severely underestimating the rates of formation and destruction of complex molecules, such as alcohols, in space," concludes Heard.

Source: http://feeds.sciencedaily.com/~r/sciencedaily/top_news/top_technology/~3/isF70kH0e8w/130630145004.htm

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Iran confirms detention of Slovak nationals

TEHRAN, Iran (AP) ? An Iranian semi-official news agency is reporting the country has confirmed it is detaining an unspecified number of Slovak nationals, saying they have broken the law.

The Sunday report by ISNA quotes Abbas Araghchi, spokesman of Iran's foreign ministry, as saying the Slovaks entered Iran as tourists, "but they had unconventional behavior and instruments. They violated Iran's law."

Araghchi said the case is under judicial investigations and would later be sent to the courts. He said Slovak diplomats have access to the detainees.

Iran did not identify the detainees or give any detail on their numbers.

In February Iran released a Slovak national after weeks after accusing him of spying for the CIA.

Source: http://news.yahoo.com/iran-confirms-detention-slovak-nationals-101327445.html

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Record-breaking crowds celebrate Blackhawks at parade, rally

Welcome back to Chicago, Lord Stanley. We think you'll notice how our Blackhawks have grown up.

Three years after a Champagne-soaked extravaganza on Michigan Avenue, the city hosted a more mature ? but equally, if not more, jubilant ? Grant Park celebration for a crowd estimated at over 2 million people. More mature, that is, if you don't count the expletive-laced anatomy lecture from goalkeeper Corey Crawford.

Chicago feted the club with a massive parade and rally Friday that broke the 2010 attendance record and perhaps will go down as the best-attended celebration in city history. Dressed in hockey sweaters on an 80-degree day, fans transformed Grant Park into a red sea that only a few final celebratory refrains of "Chelsea Dagger" could part.

Heeding Mayor Rahm Emanuel's call for the entire metropolitan area to enjoy a "Ferris Bueller's Day Off," the Blackhawks faithful skipped work, ditched meetings and feigned illness to celebrate the team's victory over the Boston Bruins this week. They lined the streets from the Near West Side to the lakeshore, then filled Grant Park in numbers so big they made the Taste of Chicago look like a cozy street fair.

The beer-guzzling players, drunken dancing and bullhorn speeches from three years ago may have vanished, but the fans' enthusiasm for the team and appreciation of the storied Cup's significance seemed to have increased exponentially.

"For the guys that were here in 2010, we didn't think there was a chance we could outmatch that performance by the fans, but you guys did somehow," captain Jonathan Toews said at the rally. "This shows how unbelievable this city is."

The celebration began early, with fans filling trains and buses before sunrise. At one point, Metra routes became so crowded that the commuter train service began to fall behind schedule and started skipping stops because of capacity concerns.

When rally organizers opened Hutchinson Field about 9 a.m., revelers sprinted toward the stage in the hope of getting an up-close spot. Among the first on the field was Alexander Smith of Naperville, who had covered his naked torso in red body paint and donned a faux-Native American headdress purchased from a Party City store.

"Go all-out," Smith said. "This is a once-in-a-lifetime thing."

With several hours to kill before the rally, fans passed time tossing beach balls and trying to keep hydrated with the free bottled water being passed out. The sun ? and, in some cases, an overindulgence in nonwater beverages ? proved too much for some as the Chicago Fire Department began treating people for heat exhaustion.

The Fire Department responded to 91 calls for medical assistance at the parade and in 42 cases transported people to area hospitals. In addition to the free water, fire officials used mist-generating fans to help cool the crowds.

"It did go well," Fire Department spokesman Larry Langford said. "There was a lot of water being passed out, and people were in pretty good shape. The Cup survived."

But the overheated crowds proved testy at times, and police reported making six arrests, including one involving a Matteson man who police say was carrying two guns during the rally. The other five were for misdemeanors.

And, for many, seeing the Cup in person Friday was as thrilling as Dave Bolland's game-winning goal Monday night. Dozens flocked to the United Center before the parade in the hope of touching the storied trophy, even though it meant missing most of the other festivities.

Team owner Rocky Wirtz mingled with fans on his way into the building, shaking hands and posing for pictures in front of the Michael Jordan statue, which is currently draped in a Hawks sweater.

Stanley Cup caretaker Phil Pritchard also made it through a gantlet of fans to the administration entrance. He quickly came back out, however, after realizing at least one fan waiting there wanted his autograph, too.

A short time later, the team emerged from the building to the cheers of onlookers. Most wore flip-flops and shorts with their red sweaters. And many had ditched or significantly trimmed their playoff beards for the occasion, while Patrick Kane continued to sport his lucky mullet.

"It's an unbelievable feeling to bring the Cup back here," defenseman Brent Seabrook told reporters. "The city of Chicago did a great job. The fans and everybody coming out is awesome."

After driving through Loop streets that quickly filled with confetti, the team arrived at Grant Park to cheers of "Let's Go Hawks!" Unlike the 2010 rally at which many players spoke, only a few took the microphone at the homecoming party.

Kane, who won the Conn Smythe Trophy as the playoffs' most valuable player, continued a team tradition of awarding a gold-plated professional wrestling belt to the MVP of the last game. He gave it to Crawford, whom he described as the league's best postseason player.

Source: http://feedproxy.google.com/~r/chicagotribune_julieshealthclub/~3/yoKFe4XpXi0/story01.htm

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Eating right, exercise may help prostate cancer patients reduce risk of aggressive tumors

June 29, 2013 ? Researchers at UCLA's Jonsson Comprehensive Cancer Center (JCCC) have published the first study on adherence to eight World Cancer Research Fund (WCRF) lifestyle recommendations and aggressive prostate cancer that shows a significantly decreased risk of highly aggressive prostate cancer associated with closer adherence to the recommendations. The recommendations provided desirable ranges of body mass index, physical activity, foods of low caloric density (under 125 kilocalories per 100 grams of food), fruits and non-starchy vegetables, salt, legumes and unrefined grains, and red meat consumption.

Led by Lenore Arab, PhD, JCCC member and professor in the departments of medicine and biological chemistry, the researchers examined associations between adherence to WCRF recommendations and risk of highly aggressive prostate cancer among subjects enrolled in the North Carolina-Louisiana Prostate Cancer Project. Study subjects were 2212 African American or Caucasian American men 40 to 70 years old with newly diagnosed prostate cancer. WCRF recommendations are intended to decrease overall risk of cancer, and are recommended for cancer survivors. The study was published online ahead of print in the journal Nutrition and Cancer.

Adherence to fewer than four of the eight WCRF recommendations predicted a 38% increased risk of aggressive tumors compared with adherence to four or more recommendations. That finding was statistically significant and similar among black and white men, despite a baseline higher risk of highly aggressive tumors among black men. In particular, eating less than 500 grams of red meat per week or less than 125 total kilocalories per 100 grams of food per day were statistically significantly protective against highly aggressive tumors for all subjects in the study.

Each point in a patient's total adherence score corresponded to a 13% reduction in risk of aggressive cancer. A total adherence score of less than 4 predicted an increased risk of aggressive tumors in African American and Caucasian patients.

"Most men are at risk of prostate cancer, but it is the level of aggressiveness of disease that is most clinically relevant," Arab says, "These findings suggest that even men with prostate cancer can take control of their disease and moderate its aggressiveness through diet and lifestyle choices."

Measurement of prostate cancer aggressiveness was based on Gleason grading system scores, blood levels of prostate-specific antigen, and TNM malignant tumor classification.

Adherence to WCRF recommendations was based on point scores and odds ratios estimated. These findings assume that patients' reports reflect their long-term dietary habits, which is supported by research that indicates that diet is relatively stable in adulthood.

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The above story is reprinted from materials provided by University of California, Los Angeles (UCLA), Health Sciences, via Newswise.

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Source: http://feeds.sciencedaily.com/~r/sciencedaily/health_medicine/nutrition/~3/BI6hVdv_0UY/130629164623.htm

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34 sent to hospitals in Las Vegas as record heat parks over West, Southwest

In Los Angeles, heat-related power failures snarled traffic, and in Death Valley, where temperatures hit triple digits, the forecast is could bring a record 129 degrees. NBC's Gabe Gutierrez reports.

By M. Alex Johnson, staff writer, NBC News

More than thirty people were taken to hospitals for heat-related injuries and illnesses Friday at a music festival in Las Vegas, authorities said, as a wave of life-threatening blistering temperatures blazed across the West.

Clark County fire personnel treated close to 200 people for heat-related nausea, vomiting and fatigue Friday afternoon and evening at the Vans Warped Tour, an eclectic outdoor music festival at the Silverton Casino off the famous Strip.

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Most were given water and taken to shaded areas, but 34 had to be taken to hospitals for further treatment, the fire department said.

"It's pretty intense," said Clark County spokesman Eric Pappa. "We're used to summer temperatures of 100, 105. But we're beyond 100. It's a scorcher."

The high temperature officially hit 117 degrees at Las Vegas-McCarran International Airport ? equaling the airport's record ? Friday as thousands of people streamed to the casino site for the festival. The thermostat fell slightly Saturday, leveling at a still-steamy 105 degrees, according to The Weather Channel.

Records are similarly expected to be broken across the West and the Southwest through the weekend and into next week, the National Weather Service said, thanks to a high pressure "dome" parked over the sprawling region.

Death Valley, Calif., could even top 130 degrees Saturday through Monday, just below the world record high of 134 recorded there on July 10, 1913, The Weather Channel said.

Temperatures in Phoenix are expected to soar between 115 and 120 degrees. In western parts of Arizona, temperatures could reach 125.

Officials in Arizona warned residents to take precautions.

"If you get dizzy or lightheaded, those are some signs of dehydration. If you become confused, that's a real warning sign," Dr. Kevin Reilly of the University of Arizona Department of Emergency Medicine told NBC station KVOA of Tucson.

In Las Vegas, meanwhile, the National Weather Service warned of the potential for a "life-threatening heat event." Temperatures were expected to match those of a July 2005 heat wave when 17 people died in the Las Vegas Valley.

The extreme weather is expected to reach Reno, Nev., reach across Utah and stretch into Wyoming and Idaho, where forecasters are predicting potentially lethal hot spells. Triple-digit temperatures were forecast during Idaho's Special Olympics in Boise.

Matt York / AP

Runners take advantage of lower temperatures at sunrise Thursday in Mesa, Ariz. Excessive heat warnings will continue for much of the Desert Southwest as building high pressure triggers major warming in eastern California, Nevada and Arizona.

Organizers urged coaches to prepare their athletes.

"The basic stuff, wearing breathable, appropriate clothes, staying in the shade as much as possible, staying hydrated is obviously a big thing," Matt Caropino, director of sports and training for Special Olympics Idaho, told NBC station KTVB. "We've put in place some misters that we're going to have at our outdoor venues."

The National Weather Service advised people to keep tabs on signs of potentially lethal heat stroke.

"Heat stroke symptoms include an increase in body temperature, which leads to deliriousness, unconsciousness and red, dry skin," it said in a report. "Death can occur when body temperatures reach or exceed 106-107 degrees."

Los Angeles was forecast to peak between the upper 80s and the lower 90s Saturday as inland communities like Burbank edge toward the low 100s. Palm Springs, Calif., no stranger to steamy summers, may peak at 120 degrees, NBC station KMIR reported. Sweltering heat also is expected for the state's Central Valley, according to The Weather Channel.

While the west remains hot and dry, the east is getting lots of rain that has resulted in flash flooding. Some of the worst flooding was in upstate New York where whole neighborhoods remain under water. ?The Weather Channel's Mike Seidel reports.

Commercial airlines were also monitoring conditions because excessive heat can throw flights off course. The atmosphere becomes less dense in extremely high heat humidity, meaning there's less lift for airplanes ? calculations that have to be made individually for every type of aircraft.

Triple-digit heat forced several airlines to bring operations to a halt after Phoenix climbed to 122 degrees in June 1990.

Daniel Arkin of NBC News contributed to this report.

Related:

'It's brutal out there': Weekend heat wave to bake western US

Alaska sweating through brutal blast of heat

Oppressive heat hits West as storms soak East

This story was originally published on Fri Jun 28, 2013 8:50 AM EDT

Source: http://feeds.nbcnews.com/c/35002/f/663306/s/2df9c7cc/l/0Lusnews0Bnbcnews0N0C0Inews0C20A130C0A60C280C191876780E340Esent0Eto0Ehospitals0Ein0Elas0Evegas0Eas0Erecord0Eheat0Eparks0Eover0Ewest0Esouthwest0Dlite/story01.htm

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