EFTA00663500.pdf

From: Tazia Smith To: "Jeffrey epstein" leevacation®gmail.cotn>, "Richard Kahn" < Subject: Re: DB reporting [C] Date: Mon, 05 May 2014 09:36:07 +0000 Importance: Normal Classification: Confidential Absolutely. Tazia Smith Director Key Client Partners - US Deutsche Bank Securities, Inc. Deutsche Asset & Wealth Management 345 Park Avenue - 26th Floor New York. NY 10154 E-mail: From: "jeffrey E." [[email protected]] Sent: 05/02/2014 11:03 PM ZE2 To: Richard Kahn ; Tazia Smith Subject: Re: DB reporting can you run through with rich , the recoomended trades to date and their rsults. thanks, copper was anoether loser its seems. On Fri, May 2, 2014 at 10:58 PM, Richard Kahn < > wrote: DB reporting is not accurate and then followed by poor explanations Below is copper pricing i noticed in their daily statements sent to us along with correspondenc: april 29 293,490 april 30 215,176 78,314 or 27% Please advise Richard Kahn HBRK Associates Inc. EFTA00663500 575 Lexington Avenue, 4th Floor, 10022 Begin forwarded message: From: Vahe Stepanian < Subject: Re: valuations [C] Date: Ma 2, 2014 4:42:49 PM EDT To: Cc: Jeanne Brennan >, Tazia Smith < > 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 -$260k. The downward move in the underlier + a dropoff in copper volatility 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 ParkAvenue - 26th Floor New Nen& NY 1mcis-nom Email From: Richard Kahn < > To. Vahe Stepanianrdbrdbcom@DBAmericas. Cc: Jeanne Brennan Tazia Smithrdbfdbcom©DBAMERICAS Date: 05/02,2014 07:21 AM Subject: Re: valuations IC] EFTA00663501 i appreciate your email and charts but you did not answer my question you showed me that copper went down on april 29 from 6701 to april 30 6624 or 1.15% decrease yet your valuation report reflected a 27% decrease in value of option are your valuation reports accurate? please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor, 10022 On May 1, 2014, at 2:42 PM, Vahe Stepanian < > wrote: 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 Email AM 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 settlement. 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 a000unt statements. <Mail Attachment.gif> From: Richard Kahn To: Vahe Stepanianiclbrdbcom@DBAmericas. Tazia Smithiclbrdbcom@DBAMERICAS. Cc: Jeanne Brennan Date: OS'0112014 12:43 PM Subject: valuations EFTA00663502  did something happen in copper in the last 24 hours that changed valuation so drastically april 29 293,490 april 30 215,176 78,314 or 27% please advise thank you Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor, New York, New York 10022 Begin forwarded message: please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. 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