, it is not clear why he qualifies to be on the • • • Director of Mutual Fund called Spirit of America Investment Fund 30 years at Sullen, Stoll, Bader & Nader. Appears to be defense oriented law firm 14 years as Bronx County Asst DA He built it by advertising on the radio on Long Islan

axable Income Cash Receipts 62,461.17 80.00 $37,603.70 608.93 Other Income & Receipts 280.00 $406.93 Unrealized Gain/Loss 627476.66 ( .oat Stoll ill a ry Cost Cash 8 Fixed Income 1,018,556 23 Total 51,018,556.27 J.P.Morgan Page 3 of 26 Confidential Treatment Requested by JPMorgan Chas

D e NT Federal Taxpayer Information (FIT) Reference: (Communication Encbsing Material) - Description: Ei—amigtentrerern!Treirrterriude S of Stoll) (114 0,0‘. +C C.•LS EFTA01725216 P0-448 (Rev. 6-2-97) FBI FACSIMILE COVER SHEET PRECEDENCE K Immediate K Priority IE Routine CLASSIFICAT

f costs are based on substantial quantitative research, supported by some very interesting theoretical work. This work is well reviewed in papers by Stoll, Madhavan and Biais et al, Stoll is a particularly good introduction [Stoll 2003, Madhavan 2000, Biais et al 2005]. Lyons discusses this with grea

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