Epstein Secrets

: Merrill Lynch (Singapore) Pte Ltd, regulated by the Monetary Authority of Singapore (MAS): Merrill Lynch (Canada): Merrill Lynch Cana

ssell and Nikkei on a tear higher. This is not how we were positioned so we need to ask the question of whether and what we need to change. Table 2: MSCI EM Asia at a 2PE point discount to other equity markets Chart 27: Japan relatively cheap at 14.1x fwd earnings Ase iM MSCIJapan MSCIEurope — MSCIUS 50 f

3% 12.2% Shanghai SE 2117 42% Utilities 47% 8.2% -20.4% 5.2% *Levels/returns as of Nov 08, 2012 Overall 15.6% 13.2% 4.4% 12.2% Local currency except MSCI EM $ Source: J.P. Morgan HOUSE_OVERSIGHT_026576 --- PAGE BREAK --- Global Asset Allocation The J.P. Morgan View 09 November 2012 Jan Loeys (1-212)

JPMSS) [MICA (P) 088/04/2012 and Co. Reg. No.: 199405335R] which is a member of the Singapore Exchange Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank, N.A., Singapore branch (JPMCB Singapore) which is regulated by the MAS. Malaysia: This material is issued and distr

ge Securities Trading Limited and is regulated by the Monetary Authority of Singapore (MAS) and/or JPMorgan Chase Bank, N.A., Singapore

such as Mexico and Malaysia. See "Consensus Asset Allocation", Adrian Mowat and team, Mar 26th. Open overweights in Mexican and Malaysia equities vs MSCI EM. • For long-term investors we just released our quarterly publication "Trade opportunities for long term investors" Mar 27. We monetize risk premia i