Epstein Secrets

ent management and horrifically bad balance sheets." all, but Vancouver, which is very hard to play publicly, is the money laundering mecca of North America. Toronto real estate is also really something. short Toronto/Canadian/ Alberta real estate through being short Home Capital Group (I CC). Last J

curities. 2) fee-sharing with mutual funds offered on is platform. 3) charging money market management fees. and 4) collecting trading commissions. Investment Thesis I) High Quality Business SCHW holds $25 trillion in client assets. > 4x more than TD Ameritrade and >8x that of Evade. Asa result. it is able to s

. United Rental stock outperformed SOO by 2.2x during his tenure ii.) United Wasteastems (1192 — 1997): Created 5th largest solid waste business in North America. United Waste stock outperformed M500 by 5.6x from 1992 to 1997. iii.) Hamilton Reser...rex (1984 — 1911 ) Grew global oil trading company co $1 b

EV EMMA: Psalm S103.29 $35.60 2.5% 091 35(bi 10 Pike Target: Moroi st:,1 . .4300.1, Ana' C0CM 50.• iO Lin VI/S015 :law Is a z.s o Investment Thesis Dexcom is a short today for three reasons. The market is underestimating the competitive dynamics within the industry along with overestimating the

PS above consensus to $4.00/$5.20, with an additional $0.15/$0.35 in EPS upside from share buybacks. Our detailed note begins on Page 2. • With the North America market tightening, HAL is starting to push pricing...will they put Tier 2 players in their place with new capacity? With only 10-12% excess industr

rica Equity Research 12 June 2014 J.P.Morgan 8 EFTA00301090 J. David Anderson, PE, CFA North America Equity Research 12 June 2014 J.PMorgan Investment Thesis, Valuation and Risks Halliburton (Overweight: Price Target: $78.00) Investment Thesis We believe HAL is exhibiting its pressure pumping cost advan