Epstein Secrets

regulated by the Financial Conduct Authority and the Prudential Regulation Authority under jaws in the United Kingdom; GSSP is regulat

gistered trademarks of Standard & Poor's Financial Services LLC ("S&P") and Dow Jones is a registered trademark of Dow Jones Trademark Holdings LLC ("Dow Jones”) and have been licensed for use by S&P Dow Jones Indices LLC and sublicensed or certain purposes by The Goldman Sachs Group, Inc. The “S&P 500 Index”

h d by the Financial Conduct Authority (FCA) and the Prudential Regulation Authority | Lynch (Asia ch (Singapore): Merrill Lynch (Singapore)

ily data from 3-Jan-95 through 31-Dec-03. SPX correlation = average pairwise realized correlation of all 500 stocks. 75% ; Asset bubbles (peak): 2 * Dow Jones (Sep-29) 1 = 65% + + Gold (Jan-80) S 55% 4 * Nikkei (Jan-90) Ls * Nasdaq 100 (Mar-00) Si 45% | * HSCEI (Oct-07) 2 * Crude oil (Jul-08) s 35% - * Biot

is regulated by the Hong Kong Securities and Futures Commission under Hong Kong laws; and GSI is regulated by the UK Financial Conduct Authority and Prudential Regulation Authority. Investment Risks. Risks vary by the type of investment. For example, investments that involve futures, equity swaps, and other derivatives, as well

& Poor’s Financial Services LLC (“S&P”) and Dow Jones®, [DJIA®] [Dow Jones Industrial Average®] are trademarks of Dow Jones Trademark Holdings LLC (“Dow Jones”). The trademarks have been licensed to S&P Dow Jones Indices LLC and its affiliates and have been sublicensed for use for certain purposes by The Go