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investment building skills. ] don’t see much avenue for investment in adult human
document IMAGES-001-HOUSE_OVERSIGHT_011053.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…invested work as subliminal and costless job experience. I don’t see it as taking a second away from work for pay. This again is meant to describe the usual rule only. Ben-Porath’s model, I think, allows an impression that workers can choose between earning and learning by alloca...

input of nurture and schooling, and then depreciates gradually to zero just as
document IMAGES-001-HOUSE_OVERSIGHT_010952.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…the 1960s held that human capital growth equals invested consumption plus self-invested work less human depreciation. I agree, with a clarification as to possible deadweight loss that I'll come to in Chapter 6. I call it the Ben-Porath equation, although he drew it from the Schul...

Organizational Expenses: The Fund will bear expenses relating to the organization of the
document IMAGES-007-HOUSE_OVERSIGHT_024062.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…d Partner Interests, including legal, accounting, travel, meeting, printing and other administrative expenses, up to an aggregate of $1,250,000. The Management Fee will be reduced by organizational expenses paid by the Fund in excess of this amount and by any placement fees paid...

The Fund is not listed with any stock exchange, organized over the counter market or electronic syst
document IMAGES-007-HOUSE_OVERSIGHT_024112.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…er Interests in the Fund have not been and will not be offered in Denmark under the E.U. Alternative Investment Fund Managers Directive (as implemented into Danish law). Consequently, this Memorandum may not be made available and interests in the Fund may not be marketed or offer...

What other basic terms do we need? Cash flow at the collective scale, where
document IMAGES-001-HOUSE_OVERSIGHT_010980.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

What other basic terms do we need? Cash flow at the collective scale, where transfers cancel internally, and there is no source of investment from outside, simplifies to exhaust of value in taste satisfaction. There is no negative component because there is no external source of...

consensus rather than supports one school over another. | think it is the consensus
document IMAGES-001-HOUSE_OVERSIGHT_010997.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…encompasses that possibility. His mineshaft scenario works if it somehow maximizes return in the big picture. My language differs from Keynes’ in several ways. I prefer Myrdal’s ex ante - ex post dichotomy, published three years after the General Theory, to Keynes’ equivalent a...

to become a publicly traded partnership within two years of this offering or the acquisition of KLC
document IMAGES-008-HOUSE_OVERSIGHT_024488.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ded in this Memorandum and other models and forecasts that may be presented to or discussed with Investors represent management's best estimates as of the date of this Memorandum of KLC’s, KLC OpCo's and KLC PropCoc’s projected results of operations for the years ended December 3...

Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024648.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…) the cultivator’s accountant, landlord or investors. For example, Constellation Brands, Inc. (NYSE: STZ), a large beverage company, recently invested approximately $190 million in Canopy Growth Corporation (TSX: WEED), a Canadian cannabis company. According to public filings, Co...

The J.P. Morgan View
document IMAGES-011-HOUSE_OVERSIGHT_030848.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…significantly lower than in past years. Various markets may seem to behave “inconsistently” with others, but we caution against expecting simple mean reversion, given our view of the reduced impact of global factors. Active investors should pay more attention to local fundamental...

There Is Potential for ‘Unintended’ Consequences
document IMAGES-006-HOUSE_OVERSIGHT_020900.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… analysis for employers and consumers may change, and some may opt to re-evaluate their current employer-sponsored coverage offerings. e Health plans that are no longer economically viable may exit markets, potentially adding to the uninsured problem prior to 2014. e Likely acc...

(GE Fanten 29H Cuter 301-4)
document IMAGES-004-HOUSE_OVERSIGHT_016765.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… 0.001 99.999 300 TRUMP INTERNATIONAL HOTEL HAWAII LLC Owned by: % Ownership i 99 301 TRUMP INTERNATIONAL HOTELS MANAGEMENT LLC Assumed Names: Owned by: Has ownership interest in : 303 Trump Korea LLC */3) ‘Owned by: D/B/A TRUMP HOTEL COLLECTION TRUMP HOTEL COLLECTION...

OGE Form 278¢ (March 2014)
document IMAGES-001-HOUSE_OVERSIGHT_010685.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…rship interest in: Entity Name Fifty-Seventh Street Associates LLC TRUMP TOWER COMMERCIAL LLC 209 TIGL COMMON AREA MANAGEMENT CORP *(3) % Ownership 100 Owned by: a TRUMP INTERNATIONAL GOLF LINKS - DOONBEG % Ownership 100 Owned by: Name DJT ENTREPRENEUR MANAGING MEMBER LL...

COUR Fern 218s (larch: D014)
document IMAGES-004-HOUSE_OVERSIGHT_016757.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…mber names. See instructions for required information, | Flers Naras Donald J. Trump i 100 THE TRUMP ENTREPRENEUR Managing Member | INITIATIVE LLC [NY DOMESTIC) Has ownership interest in: Entity Name Ownership Title TRUMP EDUCATION ULC 100,00% Shareholder i | 202 THE TRUMP ENT...

Debt Composition: Foreign Investors & Governments
document IMAGES-006-HOUSE_OVERSIGHT_020927.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Debt Composition: Foreign Investors & Governments Hold ~46% of USA Inc. Public Debt 1989 Total Public Debt 2010 Total Public Debt Outstanding Outstanding $2 Trillion $9 Trillion u Foreign Investors & Government = Federal Reserve = Mutual Funds a State & Local Governments =...