EFTA Document EFTA01380657

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 <image003.png> Stewart Oldfield, CFA, CAIA Director Deutsche Bank Trust Company Americas Deutsche Bath Wealth Management 345 P r New York. NY 10154 Tel. Mobile blackberry Email Securities offered though Deutsche Bank Securities Inc. This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0079156 CONFIDENTIAL SDNY_GM_00225340 EFTA01380657