<table><tr><th>From:</th><th>Gianni Serazzi</th></tr><tr><td>Sent:</td><td>Wednesday, March 16, 2016 3:14 AM</td></tr><tr><td>To:</td><td>Jeffrey Epstein</td></tr><tr><td>Subject:</td><td>this was the trade we discussed last year</td></tr></table>

http://www.etf.com/sections/features-and-news/buyback-etfs-usually-outperform

thx
g