Epstein Secrets

ctor two times greater than our volatility adjusted position sizing. Leverage levels can be customized to eac h investor. T24M Sharpe Ratio: 1.18 Sharpe Since 1/1/12: 1.28 Historical Sharpe & Notes: Historical sharpe ratio is in excess of 2.0X (backtest from 1995, see Investor Presentation). Our s

59.51) 7201 JP Equity (84) (2,999) (3,742.97) 9.10 -3.22 0.87% (53.54) 7203 JP Equity 34 (4,207) (5,259.85) 55.63 1.18 0.69% (35.10) Sharpe Since 1/1/11 1.281 (4.72) 7267 JP Equity 21.57 762 HK Equity 2.69 7751 JP Equity 8.72 8031 JP Equity (21.25) 8058 JP Equity 2.65 8106 JP

.73 0.65% (11.75) CBA AU Equity 1,572 17,559 69.92 76.18 17.22 0.52% 143.61 CBS US Equity (5) 1,652 60.25 60.09 -0.27 1.04% (9.17) CCL US Equity 594 6,257 36.20 39.64 11.08 0.86% 34.93 CELG US Equity 96 3,789 149.03 152.80 2.26 1.12% (52.60) CFR VX Equity 573 9,275 KN/A N/A

Equities Target Vol-Adj. Risk Global Macro Targeted Max Loss (ex-Leverage) Leverage Target At Inception: Notes on Leverage: T24M Sharpe Ratio: Sharpe Since 1/1/12: Historical Sharpe & Notes: Historically 2.25X • 3.25X, depending on measurement Interval 40%- 50% histor tally 53% 0.98% -0.89%

0.52% (286.02) CM AU Equity 1,832 18,106 70.10 77.19 20.57 0.49% 241.28 CBS US Equity (193) 7,287 60.70 59.13 -2.23 1.19% (63.74) CCL US Equity 36.48 CELG US Equity (1) (534) 88.66 88.83 -0.07 2.71% (13.35) CFR VX Equity 104 10,967 99.46 100.40 1.90 0.50% 44.83 CL US Equity

Equities Target Vol-Adj. Risk Global Macro Targeted Max Loss (ex-Leverage) Leverage Target At Inception: Notes on Leverage: T24M Sharpe Ratio: Sharpe Since 1/1/12: Historical Sharpe & Notes: Historically 2.25X • 3.25X, depending on measurement Interval 40%- 50% histor tally 53% 0.98% -0.89%

0.52% (286.02) CM AU Equity 1,832 18,106 70.10 77.19 20.57 0.49% 241.28 CBS US Equity (193) 7,287 60.70 59.13 -2.23 1.19% (63.74) CCL US Equity 36.48 CELG US Equity (1) (534) 88.66 88.83 -0.07 2.71% (13.35) CFR VX Equity 104 10,967 99.46 100.40 1.90 0.50% 44.83 CL US Equity

Equities Target Vol-Adj. Risk Global Macro Targeted Max Loss (ex•Leverage) Leverage Target At Inception: Notes on Leverage: T24M Sharpe Ratio: Sharpe Since 1/1/12: Historical Sharpe & Notes: 7/10/2014 101.96% 46.30% 15.82% 3.93% 6,544,026 (565,615) 5,978,411 1,000,000 2,019,604 Change o

0.74% (157.46) CBA AU Equity 1,476 17,832 70.01 75.81 14.95 0.55% (33.94) CBS US Equity 124 7,287 60.74 61.77 1.71 0.99% (187.14) CCL US Equity (1) 2,706 36.49 36.48 -0.04 0.76% (29.68) CELG US Equity 5 (534) 88.66 87.75 1.07 0.96% (7.27) CFR VX Equity 143 10,967 99.46 100