Epstein Secrets

and Industrials worry us a great deal. Most of the rest of the market, both the S&P and the Russell 2000, seem fully valued except a few big Banks, Utilities, Airlines, and some of our specific stock picks. EFTA01476108 Fortunately, Health Care and Tech represent 35% of the S&P 500. These two sectors d

s & Mortgage Finance Equa lweight Consumer 13.1% 13.0% Discretionary 20.9 19.3 Auto Components Automobiles Distributors Household Durables Leisure Products Multiline Retail Specialty Retail Internet & Catalog Retail Media Food & Staples Retailing 9.7% 7.0% Consumer Staples 21.0 20.5 Airlines

(China —5%) A continued profit recession, Foreign Cons Disc Cons Staples Energy Financials Health Care Industrials Tech Materials Telecom Utilities S&P 500 per share Avg oil price Euro Avg FF rate US UE yr end US GDP Global GDP Source: Deutsche Bank Sales % Profits % 27% 28% 41% 18%

17.1 16.5 12.6 13.0 Auto Components Automobiles Distributors Equalweight 13.0% 13.2% Consumer Discretionary 21.1 19.5 Household Durables Leisure Products Multiline Retail Specialty Retail Internet & Catalog Retail Media Food & Staples Retailing 9.6% 8.5% Consumer Staples 20.6 20.1 Airlines

ncials Health Care Industrials Tech ex. Fin ex. En Disc. S&P Staples Energy Financials Health Care Industrials Tech Materials Telecom Utilities Health Care Industrials Tech Materials Telecom Utilities Ex. En, Fin, HC Disc. Staples Energy Financials ex. Fin ex. En ex. Tech En, F

17.1 16.5 12.6 13.0 Auto Components Automobiles Distributors Equalweight 13.0% 13.2% Consumer Discretionary 21.1 19.5 Household Durables Leisure Products Multiline Retail Specialty Retail Internet & Catalog Retail Media Food & Staples Retailing 9.6% 8.5% Consumer Staples 20.6 20.1 Airlines