Epstein Secrets

ge cap US oils. We view Hess as the most catalyst rich large cap US E&P for 2017 with a return to growth

l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisi6n Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co, Ltd., regulated by the Financial Services Agency

rowing disparity of income and wealth between the rich and the poor (Chart 2), and the loss of national

l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co., Ltd., regulated by the Financial Services Agenc

rrill Lynch Hardline Retail team called “a little rich,” though it is difficult to tell if weak trends a

l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisién Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisidn Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co, Ltd., regulated by the Financial Services Agency

r the last few years, and, if we exclude the cash-rich Technology sector, leverage is approaching all-t

l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisidn Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch japan): Merrill Lynch Japan Securities Co., Ltd., regulated by the Financial Services Agenc

ation trade. Cheapen Financials upside by selling rich Utilities and Staples vol & expensive correl. Hi

Singapore) Pte Ltd, regulated by the Monetary Authority of try Regulatory Organization of Canada; Merrill Lynch (Mexico): Merrill Lynch Mexico, SA de Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch )}: Merrill Lynch International Incorporated (Seoul Branch} regulated by the ecurities and

via bullish X-market risk reversals Steet Selling rich USO (WTI tracker) 3M 25d puts to fund cheaper SXE

l Lynch (Mexico): Merrill Lynch Mexico, SA de CV, Casa de Bolsa, regulated by the Comisién Nacional Bancaria y de Valores; Merrill Lynch (Argentina): Merrill Lynch Argentina SA, regulated by Comisién Nacional de Valores; Merrill Lynch Japan): Merrill Lynch Japan Securities Co, Ltd. regulated by the Financial Services Agency;