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Chart 13: The 2016 election move implied by the VIX term structure is
document IMAGES-008-HOUSE_OVERSIGHT_025985.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…election day" move of 1.5% (see 19 Chart 14) 46 “Sept6 Oct 16 Novi6 Source: BofA Merrill Lynch Global Research. Daily data from 2-Jun-09 to 5-Aug-16. *Day count adjustment = we adjust the VIX futures curve to reflect the Trade-Day/252 day-count convention and use SQRT ((30/365*...

Exhibit 63: Relative Performance of “Stable” and
document IMAGES-003-HOUSE_OVERSIGHT_014590.txt Oct 31, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

… 8 5 m Stable = Volatile 6 4 Last 3 2016-to-Date 5 Years 10 Years 1987-2007 = Since 1987 Months Annualized Returns Data as of October 31, 2016. Note: Equally weighted USD-hedged returns relative to the developed markets {ex-US). Stable and volatile stocks are drawn from the...

Exhibit 48: S&P 500 Price-to-Trend Earnings vs
document IMAGES-003-HOUSE_OVERSIGHT_014584.txt Dec 31, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…_ #4@ 6 = ia ¢ © + Sd o°¢ ry ry . 20 - « « 30 ° 40 ry -50 J 0 5 10 15 20 25 30 35 40 Price-to-Trend Earnings Multiple Data as of December 31, 2016. Source: Investment Strategy Group, Bloomberg, Datastream, Robert Shiller. Exhibit 49: S&P 500 Valuation Multiples by Inflation En...

the disclosure may be based on the month end data
document the Securities and Futures Commission. (For research published within the first ten days of the month House Oversight Committee — Epstein Estate Records (Nov 2025)

the disclosure may be based on the month end data