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tes Norway USA Leonard N. Stern School of USA Business, New York University International Bank of Azerbaijan America Movil SAB de CV Google Leiden University Azerbaijan Mexico United Arab Emirates Netherlands Towers Watson USA Camargo Correa SA Brazil The Dow Chemical Company Switzerland Apax Par
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ent Fluor Corporation USA Nikolai Dobrinov Vice-President ICT Group of Companies Russian Federation Daniel Doctoroff Chief Executive Officer Bloomberg LP USA Evgeny Dod Chief Executive Officer JSC RusHydro Russian Federation Volkert Doeksen Chairman and Managing Partner Alpinvest Partners BV Nether
United Arab Emirates Canica AS Norway SAS Institute Inc. USA WoddofGood.com by eBay USA Inc. International Bank of Azerbaijan Azerbaijan Leiden University Netherlands Unlimited Communications Switzerland University of Southampton United Kingdom The Dow Chemical Company USA Apex Partners LLP Unit
ab Emirates Kenya Better Center for Science and USA International Affairs, Harvard University Societe Generale de Financement du Quebec (SGF) Bloomberg BusinessWeek The Financial Times SunGard Markstone Capital Group Evercore Partners Inc. Glencore International AG Marsh Inc. (M&MC) Canada Un
cer Inc. Jahangir Hajiyev Chairman of the Board International Bank of Azerbaijan Azerbaijan Victor Halberstadt Professor of Public Economics Leiden University Netherlands Ueli Haldimann Owner and Founder Unlimited Communications Switzerland Roshi Joan Halifax Founder, Abbot, Upaya Zen Center. USA E
ingdom Robed Friedman Editor-at-Large, Finance Bloomberg News USA Thomas L. Friedman Columnist, Foreign
cer Inc. Jahangir Hajiyev Chairman of the Board International Bank of Azerbaijan Azerbaijan Victor Halberstadt Professor of Public Economics Leiden University Netherlands Ueli Haldimann Owner and Founder Unlimited Communications Switzerland Roshi Joan Halifax Founder, Abbot, Upaya Zen Center. USA E
ingdom Robed Friedman Editor-at-Large, Finance Bloomberg News USA Thomas L. Friedman Columnist, Foreign
AMRO New York, Head of European Equities 'r Corporate Finance and Capital Markets, ABN AMRO Amsterdam 'r MBA, Columbia University 'r Law Degree, Leiden University, the Netherlands THUS HOVERS Partner & Portfolio Manager r Joined Lucerne Capital Management in 2007 • Previously, Head of Pan European Small and
1.5 -2 -2.5 -3 Source: Bloomberg Italian Retail Sales 1.00% 0.00% -1.0094 -2.00% -3.00% -4.00% -5.00% .6.00% cc es. ares, s.)Y Source. Bloomberg Corporate EBIT Margins (ex Financials) close to 10 year low enables strong profit growth BERN DYNAMIC LIP 14.00% 13.0096 12.0096 11.0096 10.00
Entities connected to both Leiden University and Bloomberg L.P.

Jeffrey Epstein
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Donald Trump
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Prince Andrew
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Marc Rich
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Joe Biden
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Barack Obama
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Ghislaine Maxwell
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United States
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Department of Justice
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Julie K. Brown
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Bill Clinton
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George W. Bush
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Virginia Giuffre
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Michael Cohen
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Michael Jackson
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Stephen Hawking
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Prince Charles
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Eric Trump
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George Mitchell
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