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Emerging market bonds
document IMAGES-008-HOUSE_OVERSIGHT_025275.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Emerging market bonds Preference: neutral EMBI Global/CEMBI spread (24 Oct): 281bps / 334bps (last month: 292bps /363bps) UBS View EMBI Global/CEMBI spread target (6-month): 275bps/290bps ¢ Current spread levels of EM sovereign bonds are roughly in line with fundamentals. We th...

This Memorandum has been prepared for private information purposes only and it may not be used for,
document IMAGES-007-HOUSE_OVERSIGHT_024113.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

This Memorandum has been prepared for private information purposes only and it may not be used for, and shall not be deemed, a public offering of interests in the Fund. This Memorandum is strictly for private use by its holder and may not be passed on to third parties or otherwis...

Chart 81: What do you expect to be the main driver of success for robo advisors?
document IMAGES-002-HOUSE_OVERSIGHT_014369.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Chart 81: What do you expect to be the main driver of success for robo advisors? 50% 45% 40% 35% 30% 29% 20% 15% 10% 5% 0% A low and An efficient | Advanced portfolio Department of Access toa transparent cost technology and construction that — Labor fiduciary human in volatil...

that comes afterwards, as the crops absorb water and grow. The idea of a balance of
document IMAGES-004-HOUSE_OVERSIGHT_018308.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

that comes afterwards, as the crops absorb water and grow. The idea of a balance of yin and yang is among the oldest in Chinese philosophy. “When heaven and earth were formed, they divided into yin and yang,” the Huainanzi, one of China’s greatest political texts explains. “Yang...

even, which the country we were building could not afford. In the early years of
document IMAGES-009-HOUSE_OVERSIGHT_027943.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

even, which the country we were building could not afford. In the early years of the state, the model Israel mother or father were those who stood silent and strong as a soldier’s coffin was lowered into the ground. Nechemia’s death hurt, of course. I was friends not just with h...

Partial Client List
document IMAGES-010-HOUSE_OVERSIGHT_029335.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

RAFANELLI Partial Client List American Heart Association American Cancer Society American Red Cross Anti-Defamation League Bain Capital Partners LLC Baupost Group LLC The Benjamin School Beth Israel Medical Deaconess Center Boston Ballet Boston College Boston Magazine Bos...

Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024744.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Cannabis Investment Report | December 2017 m U.S. Legalized Cannabis Market Forecast Forecast Methodology The cannabis industry is driven by consumers, similar to other highly regulated industries such as alco- hol, tobacco and pharmaceuticals. Consequently, our methodology fo...

(A3.6) combines with (A1.4) and (A1.5) to arrive at
document IMAGES-001-HOUSE_OVERSIGHT_011136.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

(A3.6) combines with (A1.4) and (A1.5) to arrive at 7, =F =Y,gross—p,, (A3.7) at the scale of the total capital of the individual or any set of individuals. This fact will prove helpful in adjusting the Ben-Porath model and in next generation theory. It should be borne in min...

Refiners: What’s going on with Refining in 2017: potential benefits in a Trump
document IMAGES-007-HOUSE_OVERSIGHT_023091.txt Jan 5, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

Energy: Refiners: What’s going on with Refining in 2017: potential benefits in a Trump administration 05 January 2017 Industrials / Materials: Industrials/Multi-Industry: DEM#217: The Year Ahead; Resetting for higher US growth and inflation 09 January 2017 Engineering & Constr...

notion that they ever were rests pretty much on evidence bolstered by government
document IMAGES-001-HOUSE_OVERSIGHT_011120.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

notion that they ever were rests pretty much on evidence bolstered by government subsidies such as FHA and FNMA and FMAC which began before I was born. As itis, I don’t see enough evidence either way to assert whether houses or the publicly traded corporate sector, cap-weighting...

money pours out of the Northeast (and in some cases, from as far as London
document IMAGES-012-HOUSE_OVERSIGHT_033159.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

money pours out of the Northeast (and in some cases, from as far as London and Singapore) and into this already wealthy section of southeast Florida. Approximately 70 hedge and private equity funds are now headquartered here, many of which have set up shop in the last two years,...

Free growth then arrives at its whim, like a deus ex machina, without calling for
document IMAGES-001-HOUSE_OVERSIGHT_010969.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Free growth then arrives at its whim, like a deus ex machina, without calling for more than this steady effort of replication. I find myself focusing more and more on that cash flow component of rate of return, or pure consumption rate at the collective scale, as the part we can...

To bring in a wonderful 2009, I'd like to quote an e-mail I received from a mentor of more than a
document IMAGES-002-HOUSE_OVERSIGHT_013996.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

To bring in a wonderful 2009, I'd like to quote an e-mail I received from a mentor of more than a decade: While many are wringing their hands, I recall the 1970s when we were suffering from an oil shock causing long lines at gas stations, rationing, and 55 MPH speed limits on fe...

Closed at 902 (10 Mar 2016): Buy AUD/KRW, entry: 832, target: 920, stop: 859 (revised
document IMAGES-001-HOUSE_OVERSIGHT_010612.txt Mar 10, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Closed at 902 (10 Mar 2016): Buy AUD/KRW, entry: 832, target: 920, stop: 859 (revised from 790) Closed at 38.25 (18 Apr 2016): Sell TRY/JPY, entry: 43.40, target: 36.15, stop: 45.25 Closed at 8.27: Sell USD/NOK spot 8.685, target: 8.27, stop-loss: 8.60 (revised from 9.00} New...

The Budget Debate, Revealed
document IMAGES-007-HOUSE_OVERSIGHT_023483.txt Apr 16, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

26 Article 4. NYT The Budget Debate, Revealed Richard W. Stevenson April 16, 2011 — The air in the capital these days is thick with references to trillion-dollar deficits, debt-to-G.D.P. ratios and mandatory spending. But the budget debate that became fully engaged last week...