Epstein Secrets

tained herein is intended as a general market commentary. Opinions expressed herein are those of Michael Cembalest and may differ from those of other J.P. Morgan employees and affiliates. This information in no way constitutes J.P. Morgan research and should nor be treated as such. Further. the views expressed

ient and is serviced through distinct legal entities licensed for specific activities. Bank, trust and investment management services are provided by J.P. Morgan Chase Bank. N.A. and its affiliates. Securities are offered through J.P. Morgan Securities LLC(JPMS). Member NYSE. FINRA and SIPC and Chase Investment Services

s nor intended or written to be used. and cannot be used. in connection with the promotion. marketing or recommendation by anyone unaffiliated with !Morgan Chase & Co. of any of the matters addressed herein or for the purpose of avoiding U.S. tax-related penalties. Note that J.P. Morgan is not a licensed insurance

d transformative." Al Gore • 2009. Gene scientist Craig Venter announces plans to develop next-generation biofuels from algae in a partnership with Exxon Mobil How have things turned out? There are no commercial nuclear breeders on anyone's horizon; global nuclear capacity is only 20% of the Atomic Energy

Purchase 3131/19 Percentage Unrealized Asset Description Yield Date Quantity Cost Value of Total Gain (Loss) FIXED INCOME JP Morgan Chase & Co Pfd 7.9% April 30 2049 7.900% 6/15/11 5.760.000 6.244.622 5.788.800 17.58% -455.822 Goldman Sachs 5.375% Fixed to 5-10-2020 then 392.2 over 3 m 5

-337.395 Microsoft MSFT 9/6/18 10.000 1.111704 1.179.400 1.02% 65.696 Alibaba Group BABA 6/10/15 5.000 444.749 912.250 0.79% 467.501 Exxon Mobil XOM 10/15/18 10.000 813.881 808.000 0.70% -5.881 Lockheed Martin LMT 3/20/18 2.500 808.496 750.400 0.65% -58.096 Biogen Idec Inc BII

Purchase 9/30/18 3/31119 Asset Description Yield Date Quantity Cost Value Value Difference FIXED INCOME JP Morgan Chase & Co Pfd 7.9% April 30 2049 7.900% 6/15/11 5,760,000 6,244,622 5,842,294 5,788,800 -53,494 Goldman Sachs 5.375% Fixed to 5-10-2020 then 392.2 oval 5.3

4 Microsoft MSFT 9/6/18 10,000 1.113,704 1.143.700 1.179,400 35,700 Alibaba Group BABA 6/10/15 5,000 444.749 8232800 912,250 88,450 Exxon Mobil XOM 10/15/18 10.000 813.881 808.000 -5.881 Lockheed Martin LMT 3/20/18 2,500 808,496 847,476 750,400 -97,076 Biogen !deo Inc BI03 2/

and transformative." Al Gore • 2009. Gene scientist Craig Venter announces plans to develop next-generation biofuels from algae in a partnership with Exxon Mobil How have things turned out? There are no commercial nuclear breeders on anyone's horizon; global nuclear capacity is only 20% of the Atomic Energy Ag

m"; it is used less often to increase growth rates of biomass itself. HOUSE_OVERSIGHT_030814 --- PAGE BREAK --- Eye on the Market November 21, 2011 J.P.Morgan Topic: The quixotic search for energy solutions Today's US energy reality: electricity generation Before exploring why some of these ideas did not pa

ied to be conservative. I am sure you will let me know if I wasn't. 2 HOUSE_OVERSIGHT_030815 --- PAGE BREAK --- Eye on the Market November 21, 2011 J.P.Morgan Topic: The quixotic search for energy solutions Question #3: What if the world ends up relying on coal for the next 100 years, and seeks to prevent f