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¢ A strong and growing economy
document IMAGES-010-HOUSE_OVERSIGHT_029363.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

¢ A strong and growing economy in an open relationship with global markets. ¢ Foreign policy that assures international backing, especially American — diplomatic and economic- backing Israel's positions, and which holds the "moral high ground" vis-a- vis our enemies and opponent...

do with words alone. One less something nearer zero, whether that something (the
document IMAGES-001-HOUSE_OVERSIGHT_011033.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… the three fourths rule. That was proposed as a convenient rule of thumb. I would have shown a true separate test if 1 knew how. Pure consumption might become separately measurable some day, but human capital will not. The Phil and Bill parable shows that not even evidence from s...

S&P 500 (24 Oct): 1,409 (last publication: 1,433)
document IMAGES-008-HOUSE_OVERSIGHT_025261.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

US equities S&P 500 (24 Oct): 1,409 (last publication: 1,433) UBS View S&P 500 (6-month target): 1,460 ¢ We keep our preference for US equities relative to other developed equity markets. Earnings continued to hold up better than in other regions during the recent economic slow...

As the President, by nature and design, tries to claim aggressive
document IMAGES-010-HOUSE_OVERSIGHT_030253.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

As the President, by nature and design, tries to claim aggressive new powers, the Mueller team, almost in equal proportion, is trying to limit the theory of Presidential power and, even, to criminalize an expansive exercise of those powers. People who know and have worked with M...

Dershowitz, with chest pounding bravado, rejects a series of lower-level plea
document IMAGES-007-HOUSE_OVERSIGHT_022859.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…witz and Black, celebrity criminal attorney, Gerald Lefcourt, and Clinton prosecutor, Ken Starr) of the day—anyone with new advice, Epstein seemed to hire—as well as a catchall of the leading crisis managers, who he seemed to retain at will, all wrangling for fees and primacy. C...

Exhibit 31: US Cyclical Spending
document IMAGES-003-HOUSE_OVERSIGHT_014572.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Exhibit 31: US Cyclical Spending There is scope for business and consumer spending to increase in the US economy. % of Potential GDP Recession 32 4 US Cyclical Spending = — — — = Average 30 28 26 + 24 22 20 18 = = 1965 1970 1975 1980 1985 1990 1995 2000 2005 2010 2015...

nothing would prevent a sophisticated investor in the omnibus fund from
document IMAGES-001-HOUSE_OVERSIGHT_011095.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

nothing would prevent a sophisticated investor in the omnibus fund from manipulating correlation further down with derivatives as hedge funds do. Liquidity, Risk and Return Demand deposits in banks today can be withdrawn at any time. Time deposits cannot be attracted without e...

interpretation that if Internet solicitation can be considered interstate
document IMAGES-007-HOUSE_OVERSIGHT_022723.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…witz and Black, celebrity criminal attorney, Gerald Lefcourt, and Clinton prosecutor, Ken Starr) of the day—anyone with new advice, Epstein seemed to hire—as well as a catchall of the leading crisis managers, who he seemed to retain at will, all wrangling for fees and primacy. C...

J.S. Private-Equity Tax Change Doubtful This Year, Says Carlyle Co... http://online.wsj.com/news/art
document IMAGES-009-HOUSE_OVERSIGHT_026545.txt Feb 26, 2014 House Oversight Committee — Epstein Estate Records (Nov 2025)

J.S. Private-Equity Tax Change Doubtful This Year, Says Carlyle Co... http://online.wsj.com/news/articles/SB 1000 14240527023038013045... | of 2 Should you be sitting in cash right now? If you have a $500,000 portfolio, download the latest report by Forbes columnist Ken Fisher'...

The rule does not say that risk-adjusted return tends to hold constant over time. To
document IMAGES-001-HOUSE_OVERSIGHT_010985.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

The rule does not say that risk-adjusted return tends to hold constant over time. To the contrary. Return equals growth plus cash flow, and my charts show the growth component as a bucking bronco. The maximand rule says only that risk-adjusted return is always the maximand. It is...

Sample and methodology
document IMAGES-009-HOUSE_OVERSIGHT_026726.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Sample and methodology The fieldwork for this study was conducted by NMG's strategy consulting practice. Invesco chose to engage a specialist independent firm to ensure high-quality objective results. Key components of the methodology included: - A focus on the key decision...

Concerns over stagflation return
document IMAGES-003-HOUSE_OVERSIGHT_014722.txt Oct 1, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Concerns over stagflation return On the surface, this has been an uneventful year for the US rates market so far. At the start of January, the market was pricing two Fed hikes for the year. Six weeks later, the market is still pricing only two Fed hikes for the year. The yield o...

This material was prepared by Sales personnel of Bank of America Merrill Lynch and is subject
document IMAGES-003-HOUSE_OVERSIGHT_014864.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Bank of America Merrill Lynch This material was prepared by Sales personnel of Bank of America Merrill Lynch and is subject to cine: terms available at the following link: alten einer Disclaimer: https://markets.ml.com/disclosures/ir?id=Knqg3 HJgGkM%3d This message, and any a...

other. Chap A moving at 80 hours per week and Chap B moving at 10 hours per week. They both make
document IMAGES-002-HOUSE_OVERSIGHT_013822.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…eams (not an arbitrary point of comparison with the Joneses), relative income is the real measurement of wealth for the New Rich. The top New Rich mavericks make at least $5,000 per hour. Out of college, I started at about $5. Pll get you closer to the former. 10. Distress Is B...