Epstein Secrets

ng the Financial Services Scheme, do not a errill Lynch Global Research policies relating to conflicts of interest are de

mberg European equities: switch to outright long Healthcare We switch our European sector pair trade preferr

.com/cci. ments linked to securities that may ha Lynch Global Researc es and financial instruments discussed in this re

is one of the nation's largest managed care organizations, covering roughly 23 million members. The company focuses on three main business segments: Health Care (health insurance, dental, behavioral health and pharmacy benefit Bankof America <> Merrill Lynch Top 10 US Ideas Quarterly | 03 January 2017 3 HOU

s®, | Lynch clients and may not be redistributed, Lynch Global Research reports are distributed horized use or disclosur

tax of overseas earnings of US firms’ subsidiaries at reduced rates. Non-Financials in the S&P hold at least $1.2tn in overseas cash (mostly Tech and Health Care). If half was used for buybacks, this could add 3% ($4) to S&P 500 EPS. A redux of 2004 where companies used 80% of cash for buybacks may be less lik