From: Jeffrey Epstein <[email protected]> To: "Barrett, Paul S" Subject: Re: European Equities Date: Wed, 31 Jul 2013 14:05:29 +0000 Inline-Images: image001.png ok On Wed, Jul 31, 2013 at 10:03 AM, Barrett, Paul S 4 wrote: Jeffrey We have $2MM exposure to the Eurostroxx 50 Index via a structured note. We have recently gone overweight Europe based on improving economic data, a 17% PIE discount to the US and large European underweight positions within client portfolios. I think we should build a portfolio of single name stocks that we think will benefit from an improving domestic story. We would recommend spending $2MM across these 12 names. Brokerage - diversified basket of early-cycle quality names Mkt Cap % of Ticker Name Sector Dividend (bn 2014 Pit JPMS Revenue in F,S,V LC) Yield Rating Europe Outdoor DEC FP JC DECAUX France 5.2 1.9% 20.9 x OW 65% F,V Advertising Employment ADEN VX ADECCO Switzerland 11.2 3.1% 13.4 x OW 52% F,V Staffing VOW3 GR VOLKSWAGEN Germany Autos 79.9 2.0% 7.2 x OW 65% F,V LLOY LN LLOYDS Britain Banking 482 0.0% 11.6x 100% F,V CA FP CARREFOUR France Food Retail 16.8 2.5% 14.5 x OW 73% F, V CCH LN COCA-COLA HBC Switzerland Beverages 6.1 1.7% 18.6x OW 74% F,V AGL IM AUTOGRILL Italy Travel Retail, 2.9 0.0% 23.9x 63% F,V Focdservice AC FP ACCOR France Hotels 6.5 2.7% 17.6x OW 76% F,V RNO FP RENAULT France Autos 17.7 2.9% 63 x 65% F,V COMPAGNIE DE SAINT- SGO FP GOBAIN France Construction Materials 18.7 3.7% 12.7x OW 69% F,V BNP FP BNP PARIBAS France Banking 59.6 3.1% 9x 63% F,V FRAPORT AG FRA GR FRANKFURT AIRPORT Germany TraveVLeisure 4.5 2.6% 17.1 x OW 84% F,V EFTA01142650