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(3) Investments in AI should be accompanied by funding for research on ensuring
document IMAGES-004-HOUSE_OVERSIGHT_016870.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… getting stuck in suboptimal Nash equilibria. An out-of- control arms race in lethal autonomous weapons that drives the price of automated anonymous assassination toward zero will be very hard to stop once it gains momentum. The second goal would require reversing the current tre...

reasoning without having to hire a programmer for each problem. Wiener recognized the
document IMAGES-003-HOUSE_OVERSIGHT_016337.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… not new. But when applied to a deep-learning network, they adaptively build up representations of where to search. The price of this is that it’s no longer possible to exactly solve for the best answer to a problem, but typically all that’s needed is an answer that’s good enough...

This is a little unorthodox, but here is the text of an internal note that I just sent to our integr
document TEXT-001-HOUSE_OVERSIGHT_025229.txt Aug 4, 2011 House Oversight Committee — Epstein Estate Records (Nov 2025)

…s more aggressively on our views on weak growth and easy monetary policy, and owned more gold. While we have had rising price forecasts for gold and owned it in portfolios, we did not have large enough allocations. Given the all-time high of US government transfers to households...

dec 2015
email IMAGES-007-HOUSE_OVERSIGHT_023326.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…chine that works , it will not be complexto oversee , to create it, is some thing else . Unfortunatley for us both, the price for my works has not changed since day one. 40m per year, I m willing to discount it to 35 as I did give you a bad number when asked and should pay an emb...

Will Cohen Cooperate? Tenuous Finances May Provide Crucial Clues
email TEXT-001-HOUSE_OVERSIGHT_020437.txt Apr 27, 2018 House Oversight Committee — Epstein Estate Records (Nov 2025)

…e, Laura, took out at least 16 loans based on their once-soaring value, liens show. With the rise of Uber and Lyft, the price of a medallion has fallen from more than $1 million to around $163,000 in the past four years. Income from the taxi business has plummeted, and millions o...

User Name: DAVID SCHOEN
document TEXT-001-HOUSE_OVERSIGHT_017714.txt Feb 28, 2019 House Oversight Committee — Epstein Estate Records (Nov 2025)

…portunity to see the trial of her victimizer and to speak at sentencing. A modest delay in these proceedings is a small price to pay for respecting the victim's rights. Moreover, neither a trial nor a sentencing can be repeated. Double jeopardy principles may well 292 150 Cong. R...

One-Time Charges: What Charges from F2008-F2010
document IMAGES-006-HOUSE_OVERSIGHT_020931.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… common shares held by the Treasury, which could turn out to be a $22B profit for the Treasury based on 10/1/10 closing price. Including this potential gain, TARP ultimate cost to the Treasury would be $29B. 2) White House OMB estimates ultimate cash cost of Fannie Mae / Freddie...

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

…====5y infl BE (%) Source: BofA Merrill Lynch Global Research Source: BofA Merrill Lynch Global Research We have seen price action like this before. Indeed, it was quite common during the QE period (Chart 3). However, QE is neither on the horizon nor on investors’ minds right n...

Chart 3: Saudi Arabia proven crude oil reserves Chart 4: Saudi Arabia proven gas reserves
document IMAGES-003-HOUSE_OVERSIGHT_016121.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ent annual government borrowing requirements and associated Fx reserves drawdown. We expect further administered energy price adjustments over the next five years, which should increase state revenues, in our view. A share sale may also facilitate international borrowing on the...

Fwd: draft
email TEXT-001-HOUSE_OVERSIGHT_030368.txt Oct 26, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

…bined basis 96 million, ( reviewed with brad and joe.) . add ten for restructuring . basis 106. mi. subtract total sale price, for both, lets say approx $8 - 15m . leaving loss of between 90 and 98 million long term loss. . AMT rate 28 % obama. tax 3.8%. city and state 12% total...

Why Invest in Indexes?
document IMAGES-001-HOUSE_OVERSIGHT_011097.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…erwise they couldn’t stay in business. The same principle says that the fees will converge to that pre-fee value added. Price converges to marginal utility (value). Investors bid fees up when fees are less, and down when they are more. As a rule of thumb, investors should expect...

Centre De Formation Technique Pour
document IMAGES-005-HOUSE_OVERSIGHT_019461.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

… eS ae ee Centre De Formation Technique Pour L’Avancement Des Jeunes Du Sud’Est Inc. D. DIDACTIC MATERIAL Amount Unit price Whole computer Calculator Ruler 18” Ruler 36” Ruler 48” Ruler 60” Ruler 72” Regular compass Square large Square small Tape measure Hip curve 24” Hip...

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)

…insurance companies are reportedly inclined to increase exposure to unhedged foreign bonds though they generally remain price sensitive. In our view, this is reflected in the USD/JPY’s consolidation during Tokyo trading hours after the pair hit 100 on the Brexit vote (Chart 4). T...

Unauthorized redistribution of this report is prohibited. This report is intended for amanda.ens@bam
document IMAGES-002-HOUSE_OVERSIGHT_014424.txt Mar 2, 2016 House Oversight Committee — Epstein Estate Records (Nov 2025)

…weep would first lead to JPY strength on risk aversion, but eventually be the most bullish outcome for the USD/JPY. The price action last week — a shallow dip — tells us two things about the USD/PY. First, the view that a GOP sweep would boost the USD/JPY was probably more widely...

Best Directional Trades
document IMAGES-003-HOUSE_OVERSIGHT_014737.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…s while capturing most of the upside from a bearish move. Our medium-term directional view goes with the flow of recent price action: short 5y rates, long USDJPY and short basket of LatAm long bonds. Here we make the compelling case that recent moves have a lot further to go. Be...