Epstein Secrets

sset Allocation Investment Strategy Group Goldman Sachs Additional Contributors from the Investment Strategy Group: Matthew Weir Managing Director Maziar Minovi Managing Director Angel Ubide Managing Director Farshid Asl Managing Director Matheus Dibo Vice President Mary Catherine Rich Vice President Thi

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

eady 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 Murdoch Vice President Mary Rich Vice President The 7.8% intraday peak-to-trough decline

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

(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 Murdoch Vice President Mary Rich Vice President The 7.8% intraday peak-to-trough decline

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