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COLLABORATIVE INSIGHTS February 25, 2019
document IMAGES-008-HOUSE_OVERSIGHT_024879.txt Feb 25, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

COWEN COLLABORATIVE INSIGHTS February 25, 2019 Health Care: Drug Retailer Perspective (Rhyee) 2 CBD Products Gaining Traction With Independent Pharmacies CBD products appear to be gaining traction with independent pharmacies, many of whom are already selling or planning to s...

CHAPTER Ill Cannabis Industry Segmentation
document IMAGES-008-HOUSE_OVERSIGHT_024689.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

CHAPTER Ill Cannabis Industry Segmentation al Cannabis Consumers Using Vaporizers In addition to smoking and vaporizing devices, an increasing variety of other cannabis-related accessories are available, including personal storage and transportation products. Some of these prod...

Important Caveats on F2010 Medicare Liability Improvement
document IMAGES-006-HOUSE_OVERSIGHT_020949.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Important Caveats on F2010 Medicare Liability Improvement e Medicare Part A and Part B unfunded liability improved to -$16 trillion in F2010, up 47% from -$31 trillion in F2009, per the Board of Medicare Trustees. e The improvement was driven primarily by downward revisions of...

COLLABORATIVE INSIGHTS February 25, 2019
document IMAGES-008-HOUSE_OVERSIGHT_024845.txt Feb 25, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

COWEN COLLABORATIVE INSIGHTS February 25, 2019 Tinctures are the market leading form factor within CBD, which is reflected in the absolute number of companies that play across different price segments. Ona price / mg CBD basis, Lord Jones leads the pack on premium pricing, with...

Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024676.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

> = Po cor > Qa LA Cannabis Investment Report | December 2017 Production Outlook Due to U.S. federal and international legal restrictions on cannabis commerce, producers currently must invest significant capital in potentially redundant facilities located in separate jurisdi...

2b47£1665b868f564", "layout": "fullbleed
document IMAGES-009-HOUSE_OVERSIGHT_028377.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

2b47£1665b868f564", "layout": "fullbleed- image", "role":"photo", "type": "scalable image"}, {"identifier":" anf-caption- i","inlineTextStyles": [{"range":{"length":35, "start ":80},"textStyle":"photo- credit"}],"layout":"default-caption", "role":"caption", "text":"President Tru...

look for a chance to “improve” the way we live, to bend us like so many paperclips
document IMAGES-004-HOUSE_OVERSIGHT_018428.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

look for a chance to “improve” the way we live, to bend us like so many paperclips into what it seeks? The leap from deciding liver allocations to shutting down liquor plants might seem pretty short to a rationalizing machine. And if such a machine could really “think”, Vinge bet...

Commodities overview
document IMAGES-007-HOUSE_OVERSIGHT_024169.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Commodities overview Commodities -— Key points 36 UBS Broadly diversified commodity indices, which declined by about 10% in May, found some support in June. The sideways move was visible across all commodity sectors, with gold (precious metals) delivering a temporary price upt...

supplements, regardless of whether the substances are hemp-derived. This is because
document IMAGES-008-HOUSE_OVERSIGHT_024892.txt Feb 25, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

COWEN COLLABORATIVE INSIGHTS 76 February 25, 2019 supplements, regardless of whether the substances are hemp-derived. This is because both CBD and THC are active ingredients in FDA-approved drugs and were the subject of substantial clinical investigations before they were mark...

illegations that have no basis
document IMAGES-006-HOUSE_OVERSIGHT_022178.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

([TERSON illegations that have no basis wsuit was merely a desperate ‘o prevent being held account- using minor females. Epstein's prosecuting this lawsuit are \avior is another clear demon- bove the law and that because ¢ the system and pay for law- n to the extent of having th...

Morgan Stanley | RESEARCH
document IMAGES-008-HOUSE_OVERSIGHT_025569.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Morgan Stanley | RESEARCH Upside Scenario Starting with the framework laid out above, we make several key adjustments in our upside scenario to illustrate where we think mul- tiples go and where the stocks can trade over the near term if the alts convert. Our upside scenario im...

are factored into share prices because they are realities that would be valued as
document IMAGES-001-HOUSE_OVERSIGHT_011011.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

are factored into share prices because they are realities that would be valued as such by bidders for the assets themselves. It is a mistake, | think, to suppose that shares prices would be less volatile if more descriptive of real value underneath. The existence of trends sugges...