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2. From a panel discussion last week
document IMAGES-003-HOUSE_OVERSIGHT_014719.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…higher yields) offers the best risk- reward after recent moves. Regards, Amanda Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 Phone: ii \Vobilc: HOUSE_OVERSIGHT_014719

Trades Gaining Momentum: Finance-Related Assets vs. S&P 500
document IMAGES-001-HOUSE_OVERSIGHT_011279.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…d outflow in 3.5 yrs, record EM debt outflow. Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One . Park | 5th Floor | New York, NY 10036 Phone: Mobile: This message, and any attachments...

Financials: buy XLF call spreads
email IMAGES-001-HOUSE_OVERSIGHT_011281.txt Nov 22, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Regards, Amanda Amanda Ens Director | Global Equities Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park | 5th Floor | New York, NY 10036 Phone: Mobil: iii From: Ens, Amanda Sent: Tuesday, November 22, 2016 2:15 PM To: ‘jeffre...

Explaining our taste for excessive harm
document TEXT-001-HOUSE_OVERSIGHT_012747.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Explaining our taste for excessive harm Marc D. Hauser Viking/Penguin For Jacques and Bert Hauser, my parents, my friends, and my reminder that life should be lived to its fullest Hauser Evilicious. Front matter 2 Pleasure is the greatest incentive to evil. ⎯⎯ Plato To witness s...

 60 Years of Investigative Satire
document TEXT-001-HOUSE_OVERSIGHT_015032.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

 60 Years of Investigative Satire: The Best of Paul Krassner Introduction by Andy Borowitz Blurb by Art Spiegelman Click on this for a High Res Photo. What They Say About the Author “Paul’s own writing, in particular, seemed daring and ad...

National Pub date: February 19, 2019
document TEXT-001-HOUSE_OVERSIGHT_016804.txt Feb 19, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

National Pub date: February 19, 2019 Title: DEEP THINKING Subtitle: Twenty-Five Ways of Looking at AI By: John Brockman Length: 90,000 words Headline: Science world luminary John Brockman assembles twenty-five of the most important scientific minds, people who have been thinking...

Chart 13: Real labor income and private consumption Chart 14: Workers’ saving rate at all-time high
document IMAGES-002-HOUSE_OVERSIGHT_014415.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… saar (LHS) ; ; ‘ Private consumption, JPY trn saar (RHS) —— Saving rate of workers’ households, % 4qtr ma Source: BofA Merrill Lynch Global Research, CAO Source: BofA Merrill Lynch Global Research, MIA 2. Capex revival We also see a fundamental case for higher capital spending....

Internet sector trading multiples for EV/EBITDA and P/E are tracking up slightly YTD
document IMAGES-003-HOUSE_OVERSIGHT_014892.txt Apr 4, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

…15x 10x 5X 5x Ox Ox Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Mar-12 Mar-13 Mar-14 Mar-15 Mar-16 Mar-17 Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Large cap receiving a premium; S...

were underweight at the start of the year too and missed the lows. We recognized we
document IMAGES-002-HOUSE_OVERSIGHT_014464.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ives - relative price vs 52wk average (SD) Cyclicals vs Defensives - relative price vs 52wk average (SD) Source: BofA Merrill Lynch Global Research, Bloomberg Source: Re BofA Merrill Lynch Global Research, Bloomberg place this text In fact your best guide to this year was to b...

Chart 27: 3% Global GDP growth the tipping point for EPS
document IMAGES-002-HOUSE_OVERSIGHT_014471.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…40 -40% 6 30 60 “50% “1% 01/98 01/01 01/04 01/07 O10 0113 01/16 Q496 Q499 Q402 Q405 Q408 Q411 Q414 Q417 Source: BofA Merrill Lynch Global Research, Datastream, IBES MSCI Europe 12m trail EPS (IBES) ———World GDP (right) =———|SM / Euro PMI manuf avg (advanced 9m) =———|MSCI Eur...

Chart 80: Stocks mostly trade above ex-pipeline value
document IMAGES-003-HOUSE_OVERSIGHT_014494.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…t stocks 20% 15% 5% -5% -15% -14% 16% — -16% 25% Boe -35% mPremium/(Discount) to ex pipeline DCF Source: BofA Merrill Lynch Global Research Overweight Utilities Chart 81: Growth from new products - $138bn launching 16-20E Peak unrisk-adjusted sales potential (USDm) of...