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Exhibit 25: Conference Board Consumer
document IMAGES-003-HOUSE_OVERSIGHT_014564.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Exhibit 25: Conference Board Consumer Confidence Index The labor market recovery has led to a steady increase in consumer confidence. Index Points 160 140 20 113.7 91.5 Conference Board Consumer Confidence G4 —« Historical Average Post-Global Financial Crisis Average 0 = 1...

defensive dividend stocks to take advantage of the improving cyclical backdrop and
document IMAGES-002-HOUSE_OVERSIGHT_014449.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

defensive dividend stocks to take advantage of the improving cyclical backdrop and rising bond yields. That meant our November screen included a high proportion of Financials. This somewhat remains the case but we note the addition of several industrial companies in our latest sc...

For research purposes, loneliness
document IMAGES-006-HOUSE_OVERSIGHT_021288.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

For research purposes, loneliness is typically measured on a continuum that ranges from not at all lonely (.e., socially connected) to very lonely. It is informative, however, to get a sense of the prevalence of loneliness when assessed as present or absent. Loneliness is a commo...

below $40. In other words, the outcome is highly binary in the short term for crude and
document IMAGES-003-HOUSE_OVERSIGHT_014480.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

below $40. In other words, the outcome is highly binary in the short term for crude and related equities. We flag to investors that we would consider reducing our weighting in the event of no deal. Assuming OPEC does cut production and oil prices recover up to the high $50s per...

Fwd: fact checking questions for New York Magazine story
email TEXT-001-HOUSE_OVERSIGHT_026348.txt Mar 31, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

…you leave Bear Stearns in 1982? Why? Did you take clients including Marvin Davis and Herb Siegel? -Were you then dating Morgan Fairchild? -During the 80s, did you frequently go to England where you befriended Robin Reach and attended country shooting parties and black tie dinners...

Fwd: fact checking questions for New York Magazine story
email TEXT-001-HOUSE_OVERSIGHT_026351.txt Mar 31, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

…you leave Bear Stearns in 1982? Why? Did you take clients including Marvin Davis and Herb Siegel? -Were you then dating Morgan Fairchild? -During the 80s, did you frequently go to England where you befriended Robin Reach and attended country shooting parties and black tie dinners...

Origins February 24 — 26, 2017
document IMAGES-001-HOUSE_OVERSIGHT_011298.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Origins February 24 — 26, 2017 PROJECT An Origins Project Scientific Workshop ARIZONA STATE UNIVERSITY Challenges of Artificial Intelligence: Envisioning and Addressing Adverse Outcomes 5) Al, GOALS, AND INADVERTENT SIDE EFFECTS Runaway Resource Monopoly (focus) Self-improvemen...

Peter Thiel, Trump's Tech Pal, Explains Himself - NYTimes.com
email TEXT-002-HOUSE_OVERSIGHT_033213.txt Jan 11, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Richard Kahn______________________________ Sent: 1/11/2017 11:38:08 PM To: Jeffrey Epstein [[email protected]] Subject: Peter Thiel, Trump's Tech Pal, Explains Himself - NYTimes.com Importance: High https://mobile.nytimes.com/2017/01/11/fashion/peter-thiel-donald-trump-...

Capital Markets for Cannabis Companies
document IMAGES-008-HOUSE_OVERSIGHT_024761.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

ACKRELL CAPITAL CHAPTER VII Capital Markets for Cannabis Companies Over The Counter (Market Value Greater than $25 million) Enterprise Value (EV) LTM Revenue LTM LTM EV Multiples EBITDA Revenue EBITDA ($U.S. millions, except stock price) Stock % Below Price 52-Week Mark...

significant credit issues for the banks as weaker firms (who are clients) will be better
document IMAGES-003-HOUSE_OVERSIGHT_014634.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

significant credit issues for the banks as weaker firms (who are clients) will be better positioned to sell themselves to the tech behemoths looking for innovative ideas. Catalysts: 1) Improving expectations around rising rates (on back of better macro- economic data) will conti...

Fw: WSJ
email TEXT-001-HOUSE_OVERSIGHT_020815.txt May 12, 2018 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Steve Bannon [ Sent: 5/13/2018 11:02:26 AM To: jeffrey E. [[email protected]] Subject: Fw: WSJ Importance: High Sent via BlackBerry by AT&T From: Alexandra Preate Date: Sat, 12 May 2018 08:23:58 -0400 To: Subject: WSJ SUBSCRIBE NOWSIGN IN TECH Tesla's Engineering Chief...

Peter Thiel, Trump’s Tech Pal, Explains Himself - NYTimes.com
email IMAGES-012-HOUSE_OVERSIGHT_033213.txt Jan 11, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

From: Richard Kahn [i Sent: 1/11/2017 11:38:08 PM To: Jeffrey Epstein [[email protected]] Subject: Peter Thiel, Trump’s Tech Pal, Explains Himself - NYTimes.com Importance: — High https://mobile.nytimes.com/2017/01/11/fashion/peter-thiel-donald-trump-silicon-valley-technol...

If History is a Guide, There is Potential for Estimates to Understate
document IMAGES-006-HOUSE_OVERSIGHT_020901.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…cs." e The Part D experience has given some observers hope that PPACA will not cost more than anticipated. KP Source: Morgan Stanley Healthcare Research. (@E) www.kpcb.com USA Inc. | Income Statement Drilldown 120 HOUSE_OVERSIGHT_020901

May Not Be Suitable For All Investors
document may not be suitable for all investors House Oversight Committee — Epstein Estate Records (Nov 2025)

and certain investors may not be eligible to purchase or participate in some or all of them. Morgan Stanley Research is not an offer to buy or sell or the