From: Stewart Oldfield Sent: 4/21/2017 1:45:30 PM To: Audie Apple CC: Vahe Ste•anian BCC: Subject: FW: catching up/risk premia investing Southern Financial as promised. Did Gene ever come back to you? From: Stewart Oldfield Sent: Friday, April 21, 2017 1:45 PM To: Richard Kahn Cc: Vahe Stepanian Subject: catching up/risk premia investing Rich, I'm just back from 10 days in Maui with a whole set of recommendations for you. You're going to have an awesome time. Do you have time to chat next week about risk premia investing? Think of it as systematic trading to extract risk premia (curve structure, volatility, etc.) across asset classes. Basically what most hedge funds do, but in a more liquid and transparent fashion and with lower fees. It might appeal to JE since he could tailor the investment strategies and employ efficient leverage or portfolio hedging alongside. I would like to get you on the phone with Audie Apple from our team to give you a better overview and see if makes sense to try to advance the discussion on your side. Hope all is well. Stew Stewart Oldfield, CFA, CAIA Director Deutsche Bath Trust Company Americas Deutsche Bark Wealth Management 345 Park Avenue New York, NY 10154 Tel. Mobile Email Securities offered through Deutsche Bank Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0079151 CONFIDENTIAL SDNY_GM_00225335 EFTA01380653