EFTA02002677.pdf

To: 'eevacation maiLoom eevacation©gmail.corn]. Epstein, Jeffreyheevacation©gmail.com] From: on behalf of Landon Thomas Sent Wed 1/5/2011 9:18:55 AM Subject: Happy New Year.. Happy new year myfriend. Thought I would pass this along to you -- my wife keeps asking me why I don't buy Apple stock. I tell her that you told me to but.. Anyway life goes on. Hope you are well. LT The Global Macro Monitor blog was started b an independent trader and economist and, in a prior ate, was a global macro hedgefund PM/trader, headed emerging market bond trading desks on Wall Street, and an economist/global strategist, beginning his career at the World Bank in the mid 1980's. His unique and unconventional views are reflected on his website at marcromomwordpressam. Apple traded at $333 in the pre-market this morning as it continues the march to overtake Exxon as the country's largest company in terms of market capitalization. We thought we'd share a little perspective. If Apple's market cap were a sovereign economy, it would rank as the 3Ist largest in the world. Larger than Denmark, Hong Kong, Singapore, and Israel. If just the cash and investments on Apple's balance sheet were a sovereign economy, it would rank 73 out of the 183 countries monitored by the IMF. And Apple has no "sovereign" debt! That is not priced, in our opinion! EFTA_R1_00499980 EFTA02002677 EFTA R1_00499961 EFTA02002678 Landon Thomas, Jr. Financial Correspondent New York Times Office phone: 44 207 340 4805 Mobile: 44 77 68 806 708 EFTA R1_00499962 EFTA02002679