Epstein Secrets

got to work repairing his new Diamond Resorts. But by late 2008, the credit tsunami began to take down timeshare companies one by one. Fortunately, Diamond was in a position to play offense while the whole industry was busy playing defense. With the help of private capital sources like Soros and Guggen

h to mirror transactions like the joint venture the Company structured with Dorsett (a large Asian hotel company) last year. A deal like this allows Diamond members access to new resorts in Asia without having to purchase the resort outright. These arrangements not only enhance Diamond's consumer value

request. Past performance is not necessarily an indication of future performance or profitability. See Important Notes on page 6. (2) References to Dow Jones, S&P 500. NASDAQ, Russell 2000 and other indices are for informational purposes only. See Important Notes on page 6. CONFIDENTIAL 1 EFTA00605968

got to work repairing his new Diamond Resorts. But by late 2008, the credit tsunami began to take down timeshare companies one by one. Fortunately, Diamond was in a position to play offense while the whole industry was busy playing defense. With the help of private capital sources like Soros and Guggen

h to mirror transactions like the joint venture the Company structured with Dorsett (a large Asian hotel company) last year. A deal like this allows Diamond members access to new resorts in Asia without having to purchase the resort outright. These arrangements not only enhance Diamond's consumer value

request. Past performance is not necessarily an indication of future performance or profitability. See Important Notes on page 6. (2) References to Dow Jones, S&P 500. NASDAQ, Russell 2000 and other indices are for informational purposes only. See Important Notes on page 6. CONFIDENTIAL 1 EFTA00287292

iamond Resorts International (NYSE:DRII) We initially profiled our investment in Diamond Resorts (DRII) in our 1Q 2014 letter. We were attracted to Diamond by the highly recurring nature of the Company's cash flows, the imminent refinancing opportunity available, and the Company's extremely high insider

r and 2015 YTD Performance Report ("} Gross Return 2015 Q3 2015 YTD Inception To Date Average Annual Return 0.01% 13.40% 331.10% 36.02% Dow Jones -6.91% -6.93% 56.88% I 9.94% NASDAQ -7.09% -1.61% 82.29% I 13.47% (1) The table above reflects the performance of the Fund for the current