Epstein Secrets

• Monetary policy remains extremely accomodative • Low interest rates spurring increased risk appetite • Liquidity is beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels • Markets no longer pun

s beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels • Markets no longer punishing "bad" news Expect favorable momentum to be supportive for the next 2-4 years EFTA_R1_01947044 EFTA02672828

• Monetary policy remains extremely accomodative • Low interest rates spurring increased risk appetite • Liquidity is beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels Markets no longer punis

s beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels Markets no longer punishing "bad" news Expect favorable momentum to be supportive for the next 2-4 years 10 EFTA00505789 Strategy & Exe

• Monetary policy remains extremely accommodative • Low interest rates spurring increased risk appetite • Liquidity is beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels Markets no longer punis

s beginning to move out of Mid-Large Caps. Small & Micro Cap valuations remain compelling relative to larger caps which have already recovered to pre-Lehman levels Markets no longer punishing "bad" news Expect favorable momentum to be supportive for the next 2-4 years 11 EFTA00505817 Strategy & Exe