Epstein Secrets

nd sales increase, net debt falls (trading -0.88%) • FCC 9 month update looks inline, sales down from 2011, net debt drops 11% (trading +0.16%) • Swatch considers FY sales guidance of CHF 8 billion feasible according to Sonntag (trading +1.0%) • Mercedes-Benz Jan-Oct sales +8.0% on year at 169,070 u

kend talk shows in the US centered around the looming fiscal cliff with both sides projecting a willingness to compromise and agree on a resolution (Bloomberg). European markets mixed in very light volume today — 75% of 20day average. US bond market & banks closed for Veteran's Day. SPA's +2 handles = 137

tial partners (trading +5.8%) • Tieto good O4, cost reductions ahead, sees solid growth, telco to remain tough, strong into #'s (trading +6.1%) • Swatch may be ousted from the SMI after changing to Swiss GAAP accounting rules in October (trading -1.5%) • Aer Lingus FY sales in line, PBT lower, passe

o $780mn, faces major sanctions as a result (trading +1.0%) • Monte Paschi may disclose as early as today the size of losses masked by derivatives (Bloomberg) • Ireland and Portugal are looking to tap ECB's OMT bond-buying program according to Die Welt (MNI) • Former popular party treasurer Barcenas to

beat outlook with potential to exceed depending on FX (trading +2.7%) • +0.60%Swiss watch exports -3.0%, 200-500 CHF only segment better = benefits Swatch (UHR +0.60%, CFR -0.20%) • Ladbrokes: Guardian article on potential delay to new gaming machine regulation (trading +0.10%) • Anglo American O2 p

thought SEC tried to 'trick" him WSJ • Micro-Cap Stocks Leading the Market Higher Barron's • Draghi to Carney face test backing guidance on rates Bloomberg • Israel's deepest well targets 1.5 billion barrels of oil Bloomberg • Greek Parliament approves austerity measures to release funds Bloomberg • S

ew Air freight model (trading -4.9%) • Ansaldo FY net/div inline, guidance light, Pansa resigns, no Libyan clarity on contracts (trading -1.3%) • Swatch says needs to calm spirits on growth expectations (China slower on less gift-giving) (trading -1.6%) • Eurozone O4 preliminary GDP -0.6% q/q versus

from 46.3% in the latest US Investors Intelligence poll EFTA00394115 • UBS said to face O'Connor hedge fund ($6B AUM) defections over bonus caps (Bloomberg headline) • VodafoneNerizon: Verizon said to seek resolution of its relationship with Vodafone this year (VOD LN +6.5%) • KPN says it still plans

low for inflation adjusters (trading +8.4%) • Babcock & Avincis Mission (helicopters) in exclusive talks about setting up a JV (trading -1.96%) • Swatch takes control of Rivoli stores in the Middle East (previous held 40% stake) (trading +0.69%) • Reckitt Benckiser hires Morgan Stanley to advise on

Long S&P 500 / Short AUD (reflects key macro themes for 2014) • Barclays said to plan "role-based pay" for some employees to counter EU bonus caps (Bloomberg) (trading +0.54%) • Fresenius: US scraps medicare cuts, keeps 2014/15 dialysis bundles flat & allow for inflation adjusters (trading +8.4%) • Bab

ld be much less frequent. Good news I guess, Switzerland won't be un-pegging its currency for at least another billion years, go ahead and set your Swatch by it. This is obviously dumb. You can't predict the next billion years based on the last one year of data. A billion years ago, how much were you

t angles in financial charts, but you could pretty much cut yourself on this chart of the volatility of the Swiss franc against the euro: Source: Bloomberg (as are the rest) One straightforward takeaway is: Whoa, that volatility is super high! But perhaps a more useful takeaway is: Whoa, it was super