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November 21, 2011
document TEXT-001-HOUSE_OVERSIGHT_030814.txt Nov 21, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

…gy solutions Another Don Quixote Thanksgiving. Every year at Thanksgiving 1 , we look in-depth at an issue that affects markets and portfolios. Last year, we examined the unraveling situation in Europe. Unfortunately, most concerns we expressed last year have been borne out, and...

Robert Lawrence Kuhn
document IMAGES-007-HOUSE_OVERSIGHT_023696.txt Aug 25, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

…ored with politics. RLK: Certainly people are concerned here, but you have to realize a 43% drop in the Shanghai stock market is still 25° above its 52-week lows, so what the economists, government, tries to do is to distinguish between the so-called real economy and the stock m...

http://www.cityam.com/lifestyle/books/the-art-world-heats-once-more
document IMAGES-009-HOUSE_OVERSIGHT_028318.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…timing of the contemporary art auctions that are the most immediate signifier of the health — or otherwise — of the art market. As far as that goes, Anders Petterson, managing director of art market analyst ArtTactic, says the mood is cautiously optimistic. After a rotten 2009,...

nothing would prevent a sophisticated investor in the omnibus fund from
document IMAGES-001-HOUSE_OVERSIGHT_011095.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…nd meets withdrawals easily because it is invested only in the most liquid securities. ETFs trade in seconds at current market quotations. Any mutual fund shares that might belong to the portfolio trade at current close. Like most funds, the omnibus fund would also maintain cas...

When will the Aramco project be sold?
document IMAGES-007-HOUSE_OVERSIGHT_023654.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ate of production. * Your Highness the prince, the subject of production with the economic vision and mentality in the market, will the production be freed from the political decision? - Production is not a political decision, production is an economic decision, it was not a po...

Some Notable Observations
document IMAGES-009-HOUSE_OVERSIGHT_026903.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…billion through August 2018 (based on the most recent comprehensive data), while non-US developed equities and emerging market equities have had inflows of $72 billion and $20 billion respectively. This is further evidence of our view that while sentiment and short term positioni...

Market Value Appraisal
email IMAGES-005-HOUSE_OVERSIGHT_018806.txt Dec 15, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

…2015 Roberto A. Soltero Vice President Banco Popular de Puerto Rico PO Box 362708 San Juan, PR 00936-2708 SUBJECT: Market Value Appraisal IGY American Yacht Harbor Marina 18A-1, 18-B1,18-B and 18-W Remainder Estate Smith Bay East End Quarter, St. Thomas, Virgin Islands Clien...

capital growth insofar as rate of return actually realized matches the current norm
document IMAGES-001-HOUSE_OVERSIGHT_010996.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… in consumption given up, whether individually or collectively, never agrees exactly with what it proves to be worth at market. Gunnar Myrdal, in 1939, coined the terms ex ante for the first and ex post for the second. The bucking bronco describes the ex post picture overall. E...

e Roth conversions. It is generally better to convert traditional retirement funds to a Roth IRA in
document IMAGES-003-HOUSE_OVERSIGHT_014520.txt Oct 16, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

… determine whether 2016 or 2017 would be the better year for conversion based on the relative tax rates, changes in the market value of the retirement funds and other relevant considerations. If 2016, then you could let the 2016 conversion remain. If 2017, you could “recharacteri...

From: Michael Wolff
email IMAGES-011-HOUSE_OVERSIGHT_030987.txt Feb 1, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

…aunderers. What’s more, Trump’s own financial woes, and desperate efforts to maintain billionaire lifestyle, cache, and market viability, forced him into constant and unsubtle schemes. Practically speaking, you couldn’t miss him, as the Mueller investigation appeared to be findin...

UMB Financial Corp, Wells Fargo, Zions
document IMAGES-002-HOUSE_OVERSIGHT_014394.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…zil): Bank of America Merrill Lynch Banco Multip errill Lynch Kingdom of Saudi Arabia Company, regulated by the Capital Market Authority. This research report: has been approved for publication and is distributed in the United Kingdom (UK) to pro FCA and the PRA) by MLI (UK) and...

Concerns over stagflation return
document IMAGES-003-HOUSE_OVERSIGHT_014722.txt Oct 1, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Concerns over stagflation return On the surface, this has been an uneventful year for the US rates market so far. At the start of January, the market was pricing two Fed hikes for the year. Six weeks later, the market is still pricing only two Fed hikes for the year. The yield o...

Metaphors and the market
document IMAGES-006-HOUSE_OVERSIGHT_021346.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

16. 17. 18. 19. 20. EAP 22. Metaphors and the market: Consequences and preconditions of agent and object metaphors in stock market commentary. Organizational Behavior and Human Decision Processes, 102, 174-192. Berman, P. S. (1994). Rats, pigs, and statues on trial: The c...

Chart 1: USDJPY vs yield spread Chart 2: USDJPY carry* gradually inching up
document IMAGES-002-HOUSE_OVERSIGHT_014425.txt Feb 10, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… 100 on the Brexit vote (Chart 4). The fact that USD/JPY has failed to break 100 multiple times since then suggests the market looking for USD/JPY’s dip, light positioning, and the market’s judgment that USD should be more expensive than 100 JPY. The market is probably more vulne...

Foreign exchange overview
document IMAGES-008-HOUSE_OVERSIGHT_025277.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…bove AUDUSD 1.00. We have a preference for the NZD over the AUD. ¢ We maintain a positive medium-term view on emerging market (EM) currencies. This is supported by higher short-term rates which provide an attractive yield pick-up relative to developed market currencies as moneta...