EFTA02716250.pdf

From: jeffrey E. <[email protected]> Sent: Friday, May 2, 2014 9:04 PM To: Richard Kahn; Tazia Smith Subject: Re: DB reporting can you run through with rich , the recoomended trades to =ate and their rsults. thanks, copper was anoether loser =ts seems. On Fri, May 2, 2014 at 10:58 PM, Richard Kahn <mailto >> wrote: DB repor=ing is not accurate and then followed by poor explanations Below is co=per pricing i noticed in their daily statements sent to us along with corr=spondenc: april 29 293=490 april 30 215,176 78,314 or 27% Please advise Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor, New York, New York =0022 tel 212-971-1306 <tel:212-971-1306> fax 646-350-0954 <tel:646-350-0954> cell = =/span> Begin forwarded message: <=iv style="margin-top:0px;margin-r ght:0px;margin-bottom:0px;margin-left:=px">From: Vahe Stepanian < >> EFTA_R1_02152037 EFTA02716250  Subject: Re: valuations ICI Date: May 2, 2014 4:42:49 PM EDT To Cc: Jeanne Brennan < >, Tazia Smit= < <mailto: > Classification: Confidential Rich - after reviewing further, it seems that the 4/29 valuation statement did not feed accurately - we priced up the position looking back each day for the past week and the valuation on that date should have been closer to - 5260k. The downward move in the underlier + a dropoff in copper volatil=ty combination hurt Jeffrey's position over the past week. Happy to come by with Tazia on Tuesday to walk you through the charts, pricing, and to discuss further. Have a great weekend. Thank you, Vahe Vahe Stepanian Associate I Wealth Investment Coverage Deutsche Bank Securities Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154.0004 Tel. <tel:%2B1%20%28212%29%20454.1539> Fax +1(646) 257-3131 <tel:%2B1%20%28646%29%20257-3131> Mobile <tel:%2B1%20%28347%29%20854-4676> Email From: Richard Kahn To: C=: Jeanne Brennan <212.971.1306 fax 646-350-0954 <tel:646-350-0954> cell = On May 1, 2014, at 2:42 PM, Vahe Stepanian <=a href="mailto target="_blank" >= wrote: 2 EFTA_R1_02152038 EFTA02716251 Classification: Confidential Classification: For internal use only Hi Rich - there has been a downward move in copper over the past few days. Seems to be attributed to slowing manufacturing activity in China - the world's largest importer of Copper. See below charts - happy to reach out to commodities desk should you want additional color. Thank you, Vahe Vahe Stepanian Associate I Wealth Investment Coverage Deutsche Bank Securities Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York, NY 10154-0004 Tel. <tel:%2B1%20%28212%29%20454-1539> Fax +1(646) 257-3131 <tel:%2B1%20%28646%29%20257-3131> Mobile <tel:%2B1%20%28347%29%20854-4676> Email All trade execution information contained herein is being provided as an accommodation at your request in advance of your receipt of the official trade confirmation(s). Additional trade detail information available upon request. The terms of the trade(s) may be subject to change prior to settle=ent, and therefore the official trade confirmation(s) and account statements issued by Deutsche Bank shall govern. Deutsche Bank is not responsible for any discrepancy between the informal execution report and the official trade confirmation(s) or account statements. <Mail Attachment.gif> Fr=m: <1=> <mailto >> To: C=: Jeanne Brennan < Date: 05/01/2014 12:43 PM Subject:<=ont size="3"> valuations </=body> did something happen in copper in the last 24 hours that changed valuation so drastically april 29 293,490 april 30 215,176 3 EFTA_R1_02152039 EFTA02716252 78,314 or 27% please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor, New York, New York 10022 tel 212-971-1306 fax 646-350-0954 cell Begin forwarded message: =AO please note The information contained in this commu=ication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the a=dressee. It is the property of JEE Unauthorized use, disclosure or c=pying of this communication or any part thereof is strictly prohibited<=r> and may be unlawful. If you have received this communication in error, p=ease notify us immediately by return e-mail or by e-mail to [email protected], =nd destroy this communication and all copies thereof, including all attachm=nts. copyright -all rights reserved 4 EFTA_R1_02152040 EFTA02716253