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The J.P. Morgan View: Local forces are dominating
email TEXT-001-HOUSE_OVERSIGHT_030844.txt Mar 29, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

…nd international diversification. * Local issues must be monitored and understood, though, to decide how to allocate capital and risk. Just to review a few, Japanese policy makers continue to present a concerted plan to reflate their economy through monetary, fiscal and struct...

(4.5) shows something about “balance” or the state where capital, consumption and
document IMAGES-001-HOUSE_OVERSIGHT_011005.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

(4.5) shows something about “balance” or the state where capital, consumption and output grow at the same rate. It confirms the standard teaching that balance is possible, although not compelled, when growth rate is constant. It also shows that balance is impossible when growth r...

Department of Economics, Harvard University, v. November 9,2009
document TEXT-001-HOUSE_OVERSIGHT_019396.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…e Management on Interest Rates & Exchange Rates in Center Countries," NBER Working Paper 10332, March 2004. VII. GLOBAL CAPITAL MARKET INTEGRATION: ADVANCED COUNTRIES *Obstfeld, Maurice and Kenneth Rogoff, "The Six Major Puzzles in International Macroeconomics: Is There a Common...

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)

…hink that that form of shorthand should help more then it hurts. Summary The data for the free growth index of total capital @(Kt) in the charts and tables do not represent a separate test. It is the same test adjusted to the three fourths rule. That was proposed as a convenie...

as the application of (A3.5) to human capital. This confirms the traditional view
document IMAGES-001-HOUSE_OVERSIGHT_011140.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

as the application of (A3.5) to human capital. This confirms the traditional view (A5.1) if (A5.5) is right in interpreting prior claims on pay as zero. If 1 was wrong there, and Quesnay and the physiocrats were right, some maintenance consumption would be recovered in revenue...

establishment of reasonably necessary reserves as determined by the General Partner. The General
document IMAGES-008-HOUSE_OVERSIGHT_024553.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… « First, to the Common Limited Partners and the General Partner in proportion to and to the extent of their unreturned capital contributions, but in no case may a distribution pursuant to this bullet exceed a Partner's positive adjusted capital account balance; « Second, pursua...

Ackrell Capital, LLC
document IMAGES-008-HOUSE_OVERSIGHT_024816.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Ackrell Capital, LLC 38 Keyes Avenue, Suite 200 San Francisco, CA 94129 www.ackrell.com | [email protected] | 415.995.2000 This report has been compiled for informational purposes only, and is not a research report. This report is not and should not be construed as an offer to s...

Boswall House, 2 Cornwall Terrace
document TEXT-001-HOUSE_OVERSIGHT_028281.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…n Quixote model to cast the collector/artist/nobleman as a man without qualities, occupying the privileged space of the capitalist elite, looking down through a virtual window to plot the constantly-changing vectors of matter, bodies and events as they hurtle by on the other side...

growth theory says such restraint doesn’t happen. Data say the same. I apply the
document IMAGES-001-HOUSE_OVERSIGHT_011080.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…3.5% might also vary for reasons other than changes in the generation length. My charts show the pure consumption/total capital rate as higher in the middle part of the twentieth century as people drained capital reserves to keep up consumption in times of world-wide depression....

exponentially to become all of cash flow at the end. This completes the explanation
document IMAGES-001-HOUSE_OVERSIGHT_010957.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…e see them. Pay is all human depreciation at the end. What I Thought Once Chapter 6 will compare accounting for human capital to accounting for a firm. Pay, in this analogy, is the worker’s revenue. The firm deducts outside operating costs of labor and supplies to leave gross r...

The J.P. Morgan View: Local forces are dominating
email TEXT-001-HOUSE_OVERSIGHT_031114.txt Mar 29, 2013 House Oversight Committee — Epstein Estate Records (Nov 2025)

…nd international diversification. * Local issues must be monitored and understood, though, to decide how to allocate capital and risk. Just to review a few, Japanese policy makers continue to present a concerted plan to reflate their economy through monetary, fiscal and struct...

RE: AVGO
email TEXT-002-HOUSE_OVERSIGHT_031806.txt Jul 13, 2018 House Oversight Committee — Epstein Estate Records (Nov 2025)

…k and own protection for the next 35 days until we hopefully get more clarity from management. Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 ALPHA GROUP CAPITAL From: jeffrey E. <[email protected]> Sent: Friday, July 13, 2018 1:55 PM T...

for grandparents seems to be helping take care of grandchildren. Doesn't that falsify
document IMAGES-001-HOUSE_OVERSIGHT_011083.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ugh willing caregivers paid for by parents. That explains part. The rest, I think, is best explained as replenishing a capital reserve. Nature builds up reserves in good times and depletes them in bad times. A rise in longevity from what is normally needed for lineage survival i...

I call invested consumption. I argued in Chapter 3 that this tradition is sound
document IMAGES-001-HOUSE_OVERSIGHT_011055.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…al certitude. | put it as human cash flow = pay - invested consumption. (6.18) Work is defined as the output of human capital. Summing (6.16) and (6.17) now shows the pay rule work = pay + self-invested work - recovered human depreciation, after cancellation of invested consu...