Epstein Secrets

oughts on fixed income, mandatory converts To: "Jeffrey E." <[email protected]>, Richard Kahn imacie001.

acie001.0nq image002.1pg imacte003.i0q imacie004.ipq irrapg imaqe006.iPq imaee007.ioq imacie008.ipq imaae009.Mq imaoe010.Mq imacie011.clif Jeffrey, AGN 5.5% Pfd $886.50 (6.3% strip yield) TEVA 7.0% Pfd $894.00 (7.9% strip yield) We could trade today if we can deliver into your account at MS o

ersion ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergan, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. EF

From: jeffrey E. <[email protected]> Sent: Monday, August 8, 2016 8:59 PM To: Ens, Amanda; Richard Kahn Subject: Re: Preferreds, thoughts on fixed income, man

is has a 19% 30-day vol (vs 24% for the common stock) and 30% 90-day vol (vs 41% for the common stock)= For comparison, PFF had a 4.5-5% vol. From: jeffrey =. [mailto:[email protected] <mailto:[email protected]> I Sent: Monday, August 08, 2016 4:40 PM To: Ens, Amanda Subject: Re: Preferreds, tho

version ratio sliding scale, can result in an att=actively skewed upside vs downside profile for holding the mandatory conve=t vs the common stock. Allergan, Teva and Frontier Communications are three names we have hi=h conviction on and they have mandatory convert preferreds that I recommend buying. Al

onday, August 8, 2016 6:26 PM To: [email protected] Cc: Richard Kahn Subject: RE: Preferreds, thoughts on fixed income, mandatory converts Jeffrey, I continue to=like the AGN, TEVA and FTR mandatory convert preferreds. While AGN missed =n sales today, is was mostly due to noise around the last

hursday, August 04, 2016 6:30 PM To: '[email protected]' Cc: 'Richard Kahn' Subject: Preferreds, thoughts on fixed income, mandatory converts Jeffre=, Rich m=ntioned you're interested in potentially buying preferreds. While th=y still pay a decent yield, I wanted to share some thoughts about why

version ratio sliding scale, can result in an attractively skewed upside vs downsi=e profile for holding the mandatory convert vs the common stock. Allergan, Teva and Frontier Communications ar= three names we have high conviction on and they have mandatory convert pr=ferreds that I recommend buying. 3

From: jeffrey E. <[email protected]> Sent: Tuesday, August 9, 2016 2:23 PM To: Ens, Amanda Subject: Re: Preferreds, thoughts on fixed income, mandatory conver

tel:212.449.7781> Mobil=: 917.386.3280 <tel:917.386.3280> <javascript:_e(=78%7D,1cvmr );> </=> The power of global conne=tionr <1=> <1=> From: jeffrey =. [mailto:[email protected] <javascript:_e(%7B%7D;cvmr/jeevacation@=mail.comt> I Sent: Monday, August 08, 2016 4:14 PM To: Ens, Amanda Subject:

version ratio sliding scale, can result in an att=actively skewed upside vs downside profile for holding the mandatory conve=t vs the common stock. Allergan, Teva and Frontier Communications are three names we have hi=h conviction on and they have mandatory convert preferreds that I recommend buying. 7

es (DB) 3,048,427 1,046,400 3,150,877 102,450 J Epstein VI Foundation • Equities (DB) Bristol Myers Squi

280 -215.537 Total Southern Trust Co. - Fixed Income (DB) 6,318,813 4,962,500 6,103,824 -214,989 Southern Trust Co. - Fixed Income (Merrill) Allergan mandatory convertible preffered 5.5% 08/15/16 1,000 881,500 586,250 647,700 -233,800 Allergen mandatory convertible proffered 5.5% 11/29/17

ns, Amanda Sent: Mond 08 2016 2:26 PM To: Cc: Richard Kahn Subject: RE: Preferreds, thoughts on fixed income, mandatory converts EFTA00821586 Jeffrey, I continue to like the AGN, TEVA and FTR mandatory convert prefeneds. While AGN missed on sales today, is was mostly due to noise around the last mi

liding scale, can result In an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. EFTA00821588 Allergan, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. All

From: Richard Kahn <[email protected]> Sent: Tuesday, December 12, 2017 6:38 PM To: jeffrey E. Subject: capital gains 2016 capital loss carry forward =/span>(30,712,274) apple realized gains (march 2017 & dec 2017) =/span> 26,940,828 other

convert (1mm quantity) =/span>604,500 3 Nationwide Bond (2mm =uantity) = 506,660 =/span> 4 Royal Bank of Scotland Bond (5mm =uantity) = 433,817 5 Allergan =andatory convert (1mm quantity) 260,035 Total Top S Unrealized Losses = =/span>2,778,480 should we take losses to =ffset boothbay capital gains a

PM To:'[email protected] <[email protected]> ' Cc: 'Richard Kahn' Subject: Preferreds, thoughts on fixed income, mandatory converts Jeffrey, Rich mentioned you're interested in potentially buying preferreds. While they still pay a decent yield, I wanted to share some thoughts about why

version ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergan, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. Al

To: '[email protected] <mailto:[email protected]> ' Cc: 'Richard Kahn' Subject: Preferreds, thoughts on fixed income, mandatory converts Jeffrey, Rich mentioned you're interested in potentially buying preferreds. While they still pay a decent yield, I wanted to share some thoughts about why

version ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergan, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. Al

To: '[email protected] <mailto:[email protected]> ' Cc: 'Richard Kahn' Subject: Preferreds, thoughts on fixed income, mandatory converts Jeffrey, Rich mentioned you're interested in potentially buying preferreds. While they still pay a decent yield, I wanted to share some thoughts about why

version ratio sliding scale, can result in an attractively skewed upside vs downside profile for holding the mandatory convert vs the common stock. Allergan, Teva and Frontier Communications are three names we have high conviction on and they have mandatory convert preferreds that I recommend buying. Al