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Negative cash flow, or transfer in, always means new investment added from
document IMAGES-001-HOUSE_OVERSIGHT_011039.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Negative cash flow, or transfer in, always means new investment added from outside. Plowback from revenue is excluded, as it is already recognized as a deduction from positive cash flow. For the firm, the only source of positive cash flow is proceeds from new shares issued. With...

Equity volatility has been unusually low for much of 2017
document IMAGES-001-HOUSE_OVERSIGHT_012097.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

A “Vixing” Puzzle Equity volatility has been unusually low for much of 2017. The Volatility Index (VIX), which measures the implied volatility of S&P 500 Index options and has been viewed as a barometer of equity market volatility, has drifted to all-time lows. Over a span of mo...

¢ Gabi, a San Francisco-based insurance shopping services, has raised $9.5 million in
document IMAGES-006-HOUSE_OVERSIGHT_021101.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…$9.5 million in Series A funding led by Canvas Ventures, with participation from Correlation Ventures, Northwestern Mutual Future Ventures, Securian Ventures, A.Capital Ventures and Project A. www.gabi.com ¢ Dover Microsystems, a Waltham, Mass.-based cybersecurity company, has r...

the Middle East's Islamists, and specifically
document IMAGES-010-HOUSE_OVERSIGHT_028722.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

the Middle East's Islamists, and specifically the Muslim brotherhood, whom the Qataris view as the region's rising power. "The Qatari strategy is that the situation has changed, and we need to fend for ourselves and ensure that the regional anarchy is not going to impact us," say...

Case 1:19-cv-03377 Document 1-8 Filed 04/16/19 Page 13 of 16
document IMAGES-004-HOUSE_OVERSIGHT_018011.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…fenberg has said it came from him, in a loan that Nederlander and Toboroff didn’t know about. Two things happened that alarmed Nederlander and Toboroff. After the group signaled a possible takeover, the Pennwalt management threatened to sue the would-be raiders. Epstein was relu...

Chinese Race.”* Hong Kong has long been a base for flag-waving Chinese activists
document IMAGES-006-HOUSE_OVERSIGHT_020627.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…fight wars. The Chinese race only safeguards peace!” runs one pronouncement which was designed as an outreach to potential supporters on Okinawa. “The Chinese race is relying on you. The Chinese race today relies on you, and the Chinese race can rely on you.”° Even more extreme i...

where as before 7 is the time that elapses between «“) and x). The MRS in exchange between
document IMAGES-001-HOUSE_OVERSIGHT_011159.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…ure consumption can be ex- changed by borrowing and lending. It is related to the interest rate 7 by dn) where W is wealth and the derivative is taken along a line of constant wealth, that is, along the solid market line in figure 1. The MRS in fitness is defined by de) dh) wh...

I argued that outside investment in human young, including the unpaid work of
document IMAGES-001-HOUSE_OVERSIGHT_011149.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

…nting, might not be far from constant. School costs rise as parenting costs decline. (A10.1) in that case gives H(x)= ale -1), if x<=A. (A10.2) At maturity (A10.1) becomes H(A)= | . C (ze dz, (A10.3) H in adulthood is easiest to model at present value rather than present cost...

Fwd: FDA Approved a Potent and Pricey Cholesterol lowering drug today
email TEXT-001-HOUSE_OVERSIGHT_025888.txt Jul 24, 2015 House Oversight Committee — Epstein Estate Records (Nov 2025)

… onGoogle Plus, or subscribe to my Facebook page. Loading... Loading... The Food and Drug Administration has approved Praluent, a new medicine to lower cholesterol in people who have established heart disease, for people whose risk of a heart attack or stroke is not being adequat...

Iranian Economy Hit Hard by Sanctions
document IMAGES-009-HOUSE_OVERSIGHT_026954.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Investment oldman , goa anagement Iranian Economy Hit Hard by Sanctions Division 1. Iran Annualized Real GDP Growth and Inflation’ 2. Iranian Rial (Mid) to USD — Unofficial Market Rate 200,000 15 = =mReal GDP Growth CPI % YoY (Right) 60 51 180,000 - 10 - + | 40 460,000 _ IRR...

Global Equity Volatility Insights Bankof America
document IMAGES-007-HOUSE_OVERSIGHT_023575.txt Jun 6, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

Global Equity Volatility Insights Bankof America Why S&P vol dispersion may be the best Merrill Lynch way to trade a bubble in Tech 06 June 2017 US Equity Derivatives Global How to detect and position for a potential Tech Bubble Our investment strategists recently warned again...

Exhibit 39: CFO Optimism About the US Economy
document IMAGES-003-HOUSE_OVERSIGHT_014575.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Exhibit 39: CFO Optimism About the US Economy Chief financial officers’ confidence is at its highest level in a decade. % 90 % of CFOs More Optimistic Than Previous Quarter Recession 64.1 2004 2006 2008 2010 2012 2014 2016 Data through December 2016. Note: The survey questi...

TAL Cannabis Investment Report | December 2017
document IMAGES-008-HOUSE_OVERSIGHT_024698.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

A > KR I P ELL TAL Cannabis Investment Report | December 2017 w U.S. State Law Of the 51 jurisdictions comprising the 50 U.S. states and the District of Columbia, 47 have enacted at least one law that permits the manufacturing, distribution, dispensing or possession of cann...

Re: Edmond de Rothschild Infrastructure Expertise
email IMAGES-008-HOUSE_OVERSIGHT_026064.txt Feb 8, 2017 House Oversight Committee — Epstein Estate Records (Nov 2025)

… a HUGE amount of cash sitting on the sidelines. trump will want to do private public partnerships on most things. . donald loves the rothschild name. On Wed, Feb 8, 2017 at 7:23 AM, EL HACHEM Johnny Po wrote: Dear Jeff, As previously discussed between you and Ariane, Edmond d...

Key financial market driver 2 - US policy
document IMAGES-007-HOUSE_OVERSIGHT_024144.txt House Oversight Committee — Epstein Estate Records (Nov 2025)

Key financial market driver 2 - US policy Key questions e Will the economic outlook deteriorate? Will QE3 become necessary? e How will the election outcome change fiscal policy deliberations? © Can politicians find an agreement to avoid sharp fiscal contraction in early 2013...