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h the Central Bank of the United Arab Emirates or the Securities and Commodities Authority. If you do not understand the contents of this do
studying the methods used to measure price indices.°° We point to three examples to illustrate the mismeasurement argument. First, our colleagues in Goldman Sachs’ Global Investment Research (GIR) have pointed out that the official price indices for information and communication technology show an implausible ga
Page: HOUSE_OVERSIGHT_014548 →06 0.2 08 0.0 10 Jan-16 Apr-16 Jul-16 Oct-16 Data through December 31, 2016. Source: Investment Strategy Group, Bloomberg, Datastream. Exhibit 92: S&P Goldman Sachs Commodity Total Return Index Commodities generated their first double-digit return since 2009. Annual Returns (%)} 60 40 20 _ LL | I Hi BL gis R
Page: HOUSE_OVERSIGHT_014606 →r or Solicitation. This material may not, without Goldman Sachs' prior written consent, be (i) copied, photocopied
ise under the laws of the United Arab Emirates. This document has not been approved by, or filed with the Central Bank of the United Arab Emirates or the Securities and Commodities Authority. If you do not understand the contents of this document, you should consult with a financial advisor. This document is provided to the recipient only
Page: HOUSE_OVERSIGHT_026908 →litate your discussions with the applicable Goldman Sachs entity including, but not limited to, Goldman Sachs & Co. LLC, Goldman Sachs International, Goldman Sachs AG, Goldman Sachs Bank (Europe) plc, Goldman Sachs Paris Inc. et Cie., Goldman Sachs (Monaco) S.A.M., Goldman Sachs Saudi Arabia, Goldman Sachs Bank AG,
Page: HOUSE_OVERSIGHT_026921 →ise under the laws of the United Arab Emirates. This document has not been approved by, or filed with the Central Bank of the United Arab Emirates or the Securities and Commodities Authority. If you do not understand the contents of this document, you should consult with a financial advisor. This document is provided to the recipient only
Page: HOUSE_OVERSIGHT_026922 →Entities connected to both Goldman Sachs and the Securities and Commodities Authority

Donald Trump
PERSON
Marc Rich
PERSON
United Kingdom
LOCATIONGlendower
LOCATION
Federal Reserve
ORGANIZATIONSt. Kitts
LOCATION
European Union
ORGANIZATION
Seoul
LOCATION
Paul Volcker
PERSON
Michael Bloomberg
PERSON
Jair Bolsonaro
PERSON
Bolsonaro
PERSON
United Arab Emirates
LOCATION
Goldman Sachs International
ORGANIZATION
Chile
LOCATION
the European Commission
ORGANIZATION
Rupert Murdoch
PERSONthe Prudential Regulation Authority
ORGANIZATIONGoldman Sachs Canada
ORGANIZATIONGoldman Sachs & Co. LLC
ORGANIZATION