Epstein Secrets

ult, in a situation where there is a proven portfolio manager who is available to be hired (for example talent getting Volkered off of a prop desk), Millennium is in position to offer them a portfolio size that is multiple of some of what the new comers could offer. Guggenheim, trying to compete with the s

enough confidence interval to risk material money. There have been a few large funds that have been successful running similar strategies (Citadel, Millennium, SAC, and Balyasny). Additionally, many of the bank prop desks were run this way prior to the Volker rule being invoked. Most of the funds were bui

ilure. They violated the first rule of multi manager multi strategy investing — "you can't out Izzy Izzy". What we mean by this rule is as follows. Millennium (run by Izzy Englander) is now $20B and uses significant leverage as is appropriate for this model. As a result, in a situation where there is a pro

nvironment or crowdedness of a space) and manager factors (e.g., the size of the asset base being run or style drift). Shane Bum has recently joined Boothbay as well bringing over 20 years of Wall Street experience. He is heading up manager selection and risk management. He has a background in fund of fun

ill be a combination of a multi manager, multi strategy managed account platform currently being built out, along with the First Loss platform that Boothbay currently runs. Boothbay has a combination of a differentiated investment philosophy, business plan and a visionary founder who is uniquely qualifie

would sit on investment committee. The one area they are lacking which is really part of the differentiation between fund of fund type activity and Millennium style approach is the business aspect (sourcing under the radar talent, negotiating terms, etc.) and the operations of running this type of a busin

enefit of all I'm willing to not be on the GP and stay out of spot light. Their goal had been to recreate commodities corp. I strongly believe that Millennium is a better version of what commodities corp was for a number of reasons. Our visions happened to have been pretty close to begin with. They believ

l idea would be $1.00m day 1 —which realistically would have a target date of July 1, with it going to SSC:10m within months. I would shut down the Boothbay entity and roll it into whatever the new entity would be called including all the IP and infrastructure we have spent close 18 months and millions o

. This communication should not be regarded as an offer, solicitation or recommendation to sell or purchase any security or other financial product. Boothbay and its related entities reserve the right to monitor and/or save all e-mail communications through their networks. EFTA00705054

approximately 1%)= We believe last year to be the aberration. It was one of the =orst years ever for platforms that have the basics of our strategy. Millennium posted its second to worst year e=er (approx. 3%), SAC had EFTA_R1_01400321 EFTA02383594 only its second down year ever, Balyasny was flat= and L

This communi=ation should not be regarded as an offer, solicitation or recommendation to sell or purchase any security =r other financial product. Boothbay and its related entities reserve the r=ght to monitor anzifi—oh-SOE-roZrEA e 14- -_^6EYR+%etal:I" iiceY222iLace _Px§I Lb--rCaf'«tCc;§(6---zPileijet

up to do just that. Shana tova Ari PS -running out for the holiday so will send the att=chments referred to next week when I am back. Ari Glass Boothbay Management<=:p> Managing Member=/o:p> 2 EFTA_R1_01400322 EFTA02383595 The information contained in this e-mail and any attachments may be legal

market drawdowns) and excellent risk adjusted returns (sortino of 6.7, Calmar ratio of 4.9). In addition to doing a good job on common strategies (Millennium, style low net equities, and quant), we have an edge on niche strategies (SPACs, appraisals right, Canadian Closed end fund arbitrage, certain misp

e regarded as an offer, solicitation or recommendation to sell EFTA_R1_00029155 EFTA01740054 or purchase any security or other financial product. Boothbay and its related entities reserve the right to monitor and/or save all e-mail communications through their networks. EFTA_R1_00029156 EFTA01740055