From: Richard Kahn Sent: Wednesday, March 14, 2018 4:52 PM To: jeffrey E. Subject: Fwd: MEGA Trade --> Long Saudi... Richard Kahn HBRK Associates Inc. 575 =exington Avenue 4th Floor New York, NY 10022 tel fax cell Begin forwarded message: From: =/b>"Ens, Amanda" • a> Subject: =/b>MEGA Trade --> =ong Saudi... Date: March 14, 2018 at 12:45:33 PM EDT To: =/b>"rkahn"<as Reply-To: =/b>"Ens, Amanda" Global Equities MEGA — Europe Opening New MEGA Trade: Long Saudi Equities ( Buy M1SAP on Swap / Liquidity $100mm a =ay) - Potentially the EM Flow Story of 2018... if FTSE =ddition is announced on March 28th we expect an inflow of S5bn =n a basket which trades 100mm USD a day (50X ADV)... this is even =efore MSCI announcement in June where inflows could be substantially =igher - The Most Powerful Macro Trades are when Macro =undemantals + Flow Meet... This is Saudi in 2018 EFTA_R1_01638128 EFTA02507465