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The Rest Won't Overcome the West
document IMAGES-010-HOUSE_OVERSIGHT_029947.txt Jul 1, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

…lenge to US geo-strategic and geo-economic status by China, BRIC (Brazil, Russia, India and China) and the other rising global powers, including South Africa, South Korea, and Turkey. Indeed, in the aftermath of the US military debacles in Iraq and Afghanistan, and especially sin...

Executive Summary 1
document IMAGES-005-HOUSE_OVERSIGHT_019234.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… Conclusion: Authoritarianism Comes Calling 57 ACKNOWLEDGMENTS This report emerged from a presentation on the state of global freedom conducted by the author and David J. Kramer, former president of Freedom House. The major source of data and analysis is Freedom in the World, th...

further rate cuts and lowered the deposit rate to
document IMAGES-003-HOUSE_OVERSIGHT_014605.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…y pressure on long-maturity bonds, coupled with continued above-trend Eurozone growth and some further normalization in global term premiums, we expect 10-year bund yields to increase to 0.5-1.0% by the end of 2017. While overall peripheral bond spreads should be mostly range-bou...

Table 6: Summary of open trades as of 5-Jun-17
document IMAGES-007-HOUSE_OVERSIGHT_023598.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…y upside HSl is unlikely to outperform if AS51 drops more than 10%; HSI vol below AS51 vol Source: BofA Merrill Lynch Global Research. Prices reflective of most recently available data which may be delayed in some cases. “Trade Value” represents current valuation of trades init...

underperformance -39%, QE2 -12%, QE3 -5%), which signals exhaustion of selling pressure as the
document IMAGES-007-HOUSE_OVERSIGHT_024208.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Utility White Paper CONFIDENTIAL underperformance -39%, QE2 -12%, QE3 -5%), which signals exhaustion of selling pressure as the relative value of the S&P versus utilities has stretched further. Given widespread use of QE, a similar effect can be found in other regions. U...

challenges requires global cooperation
document IMAGES-010-HOUSE_OVERSIGHT_029358.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

challenges requires global cooperation ¢ Israel finds itself at the center of a kind of "perfect storm,"the only outpost of the western way of life in the Middle East — at the meeting point of the "clash of civilizations" between Islam and the West, as Huntington envisioned it,...

¢ S&P Global (NYSE: SPGI), a provider or markets data and analytics, has agreed to
document IMAGES-006-HOUSE_OVERSIGHT_021103.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

More M&A ¢ S&P Global (NYSE: SPGI), a provider or markets data and analytics, has agreed to set to acquire Panjiva, a New York-based provider of supply chain data. WWW. panjiva.com ¢ The Adecco Group, a Swiss human resources services firm, has acquired Vettery, a New York-based...

Exhibit 34: US GDP per Hour Worked
document IMAGES-003-HOUSE_OVERSIGHT_014573.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…rowth signal in the main high-frequency indicators for the US economy. Source: Investment Strategy Group, Goldman Sachs Global Investment Research. near zero and inflation expectations still below levels compatible with its inflation target, the Federal Reserve is likely to hike...

Global Financial Data reports annual rate of return, growth rate in market cap, and
document IMAGES-001-HOUSE_OVERSIGHT_011013.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Financial Data reports annual rate of return, growth rate in market cap, and “imputed dividend rate” as the difference. Dividend rate itself is reported as something a little different. | made no attempt to get to the bottom of this distinction, just as | made none to allo...

and growth without bigger government
document IMAGES-010-HOUSE_OVERSIGHT_029827.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…eurship. Finally, the U.S. needs to match growth priorities of developing economies. President Obama should expand the global food-security initiative he announced in 2009 to boost agricultural productivity and production across the value chain, including through the private sec...

UBS View Prefer value and large caps in Europe, mid caps in US
document IMAGES-007-HOUSE_OVERSIGHT_024156.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…dend strategy would be too defensive to outperform the market. & Negative scenario Prefer quality and large caps ¢ The global economic picture deteriorates markedly. In this case, buy high-quality growth companies and large caps. Do not look for value opportunities, but be as de...

Eye on the Market | August 4, 2011 J.P Morgan
document IMAGES-008-HOUSE_OVERSIGHT_025230.txt Aug 4, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

…tains substantial option value at times like these. We could have connected the dots more aggressively on our views on Global monetary and fiscal policy weak growth and easy monetary policy, and owned more gold. While %p.a. we have had rising price forecasts for gold and owned i...

EMEA - Telecoms Coverage Cluster
document IMAGES-007-HOUSE_OVERSIGHT_023604.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…an, CFA Deutsche Telekom DTEGY DTEGY US Frederic Boulan, CFA Deutsche Telekom DTEGF DTE GR Frederic Boulan, CFA Liberty Global LBTYA LBTYA US David Wright Orange Belgium MBSRF OBEL BB David Wright SFR Group SA NUMCF SFR FP Frederic Boulan, CFA Swisscom SWZCF SCMN VX Frederic Boul...