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Real estate: NTP positive but not enough
document IMAGES-003-HOUSE_OVERSIGHT_016174.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…table residence. The ministry targets by 2020 to: 1) double the real estate sector 64 GEMs Paper #26 | 30 June 2016 3S Merrill Lynch HOUSE_OVERSIGHT_016174

Volatility in Asia
document IMAGES-003-HOUSE_OVERSIGHT_014987.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…0/110% corridor variance swap: 5 vol points deg oes Bankof America 16 Global Equity Volatility Insights | 20 June 2017 Merrill Lynch HOUSE_OVERSIGHT_014987

Summary of Open Trades (19-Jun-17)
document IMAGES-003-HOUSE_OVERSIGHT_014992.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…v yields have surpassed HY credit yield & equities o er more gearing to rising PMI's, earnings and FCF Bankof America Merrill Lynch Global Equity Volatility Insights | 20 June 2017 21 HOUSE_OVERSIGHT_014992

contribution to GDP from 5% to 10%; 2) reduce the average time required to
document IMAGES-003-HOUSE_OVERSIGHT_016175.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…s to the decree by end-June 2016 and aim for implementation by 17 January 2017 (including a 1-3 year grace period). OS Merrill Lynch GEMs Paper #26 | 30 June 2016 65 HOUSE_OVERSIGHT_016175

Health: Not Tremendously Prescriptive
document IMAGES-003-HOUSE_OVERSIGHT_016161.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…e. The quality targets set for the public sector do not appear unduly onerous in theory, but execution remains key. OS Merrill Lynch GEMs Paper #26|30June 2016 51 HOUSE_OVERSIGHT_016161

Source: Bloomberg
document Source: Bloomberg Jun 28, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

Bank of America Merrill Lynch Global Research. PIF = Public Investment Fund. GOSI = General Organization for Social Insurance. PPA = Public Pension Agency. Based on stock prices as of 28 June 2016.

Summary of Open Trades (5-Jun-17)
document IMAGES-007-HOUSE_OVERSIGHT_023597.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…too steep is under-pricing risks Buy unloved and cheap biotech upside by levering depressed vol & skew Bankof America Merrill Lynch Global Equity Volatility Insights | O06 June 2017 = 23 HOUSE_OVERSIGHT_023597

iQprofile’ Hess Corp
document IMAGES-003-HOUSE_OVERSIGHT_014874.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…220 25,334 * For full definitions of sQnethod™ measures, see page 11. BankofAmerica <2” 2 Hess Corp. | 11 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014874

Pandora (BUY, $9 PO)
document IMAGES-003-HOUSE_OVERSIGHT_014916.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…difficult transition year as it builds it on-Demand service. BankofAmerica <2” 30 Internet/e-Commerce | 06 April 2017 Merrill Lynch HOUSE_OVERSIGHT_014916