Epstein Secrets

g we see is a perspective... ¥ > Attributed to Marcus Aurelius Investment Strategy Group | January 2017 HOUSE_OVERSIGHT_014532 --- PAGE BREAK --- Sharmin Mossavar-Rahmani Chief Investment Officer Investment Strategy Group Goldman Sachs Brett Nelson Head of Tactical Asset Allocation Investment Strategy Group Goldman S

isis highs. % 700 639 600 500 + 400 300 + 1951 1959 1967 1975 1983 1991 1999 2007 2015 Data through 03 2016. Source: Investment Strategy Group, Datastream. The anemic (but steady) pace of this recovery has fueled a debate about its causes. The theories fall into six categories: e A “hangover” from the

M EDT HOUSE_OVERSIGHT_026893 --- PAGE BREAK --- Sunday Night Insight October 14, 2018 The Unsteady Undertow Commands the Seas (Temporarily) ——— Sharmin Mossavar-Rahmani Chief Investment Officer Brett Nelson Head of Tactical Asset Allocation Maziar Minovi Managing Director Andrew Dubinsky Vice President Michael Mur

ients maintain their strategic allocation to US equities. HOUSE_OVERSIGHT_026905 --- PAGE BREAK --- Sources: Investment Strategy Group, Bloomberg, Datastream, Goldman Sachs Global Investment Research, Haver. Endnotes: (1) Kate Davidson and Sarah Chaney, “Fed Chair Powell Sees ‘Remarkably Positive Set of E

nt Strategy Group Sunday Night Insight October 14, 2018 The Unsteady Undertow Commands the Seas (Temporarily) ~F oread--~ - = - ba ~~ = = ! ." Sharmin Mossavar-Rahmani Chief Investment Officer Brett Nelson Head of Tactical Asset Allocation Maziar Minovi Managing Director Andrew Dubinsky Vice President Michael Mur

ation to US equities. HOUSE_OVERSIGHT_026920 --- PAGE BREAK --- Sources: Investment Strategy Group, Bank for International Settlements, Bloomberg, Datastream, Goldman Sachs Global Investment Research, Haver, International Monetary Fund, Teneo Intelligence. Endnotes: (1) Kate Davidson and Sarah Chaney, “F