Epstein Secrets

quities S&P 500 2178.2 -0 3% 0.4% 4.1% 8.1% 6.5% 7.8% 11.9% 15.3% MSCI World (USD) 420.2 -0.1% 1.1% 55% 7.2% 2.7% 2.2% 6.7% 9.4% MSCI Europe ex UK (USD) 1713.7 -0.2% 1.6% 6.5% 0.9% -5.8% -2.1% 1.9% 6.4% MSCI UK (USD) 1085.1 -04% 0.7% 3.5% 0.4% -9.1% -7.4% -08% 4,0% MSCI

merging Market 4.5% 0.5% 1.3% 2.9% 12.5% 11.4% 5.3% 6.8% 6.3% Equities S&P 500 2178.2 -0 3% 0.4% 4.1% 8.1% 6.5% 7.8% 11.9% 15.3% MSCI World (USD) 420.2 -0.1% 1.1% 55% 7.2% 2.7% 2.2% 6.7% 9.4% MSCI Europe ex UK (USD) 1713.7 -0.2% 1.6% 6.5% 0.9% -5.8% -2.1% 1.9% 6.4% MSC

S8P 500 PIE (LTM) 18.7 -003 0.04 0.72 1.30 0.89 1.77 3.35 5.79 MSCI World P/E (LTM) 17.5 0.05 0.17 0.92 1.03 0.81 1.82 2.86 5.45 MSCI Europe ex UK P/E (LTM) 16.2 0.19 0.24 1.26 0.15 -0.93 0.64 1.81 6.07 MSCI UK PIE (LTM) 9.5 0.03 0.01 0.03 -0.13 -0.24 -0.31 1.34 273 MS

nicals and Fundamentals Relative Strength Index Next 12 Mo Earnings Growth 3 Mo Change in Earnings Est (NTM) S&P 500 2 0% 57.89 8.7% -1.1% MSCI World 2.6% 60.92 9.0% -2.0% MSCI Europe ex UK 3.4% 57.38 7.7% -3.1% MSCI UK 4.0% 66.68 7.4% -0.4% MSCI Latam 2.7% 69.80 28.7% -0.8% MSC

vans (44-20) 7742-2537 M. Morgan Securities plc 2012 returns %, equities are in tighter color. Toplx EMBIG MSCI EM* EM S Corp. MSCI AC Work! MSCI Europe US Hip Yield SIP500 Europe Faced Inc US Hip Grade EM Local Bonds EM FX Gold Global Gov Bonds— U S Fixed Income US cash GSCI TR ■ .6 0 5 1

asset class %. U Is unItedged into USD. H means hedged 2013E 2012 MSCI EM 15.0 17.4 EM Local Fl (U) 10.0 8.9 EMFX 10.0 7.5 GSCI 10.0 0.1 MSCI World 10.0 16.0 US HY 7.5 16.2 CEMBI 7.0 16.7 EMBIG 7.0 18.5 JACI 6.5 14.3 EU HY 6.0 25.0 US HY Loans 5.5 9.7 US KG 5.4 9.9 Gold 5.0 6.