<table><tr><th>From:</th><th>Jonathan Farkas &lt;</th></tr><tr><td>Sent:</td><td>Wednesday, January 10, 2018 11:37 AM</td></tr><tr><td>To:</td><td>jeevacation@gmail.com</td></tr><tr><td>Subject:</td><td>Re: Re:</td></tr></table>

then markets must fall and we are enetering the 70s correct .you called the bottom of the markets in 1982 ,your quote
in 1982 was you will never see 1000 on the dow again in your lifetime.you would have gotten a Nobel prize for that call

In a message dated 1/10/2018 6:31:28 AM Eastern Standard Time, jeevacation@gmail.com writes:

interest rates have to rise

On Wed, Jan 10, 2018 at 6:24 AM, Jonathan Farkas <██████ <mailto:██████>> wrote:

Hi Old man i will be down in pb this weekend ,are you there? I am watching the 10 year and this could be a false breakout or lift off i am not sure technology should be keeping inflation down.but the lower end of the work chain construction etc are seeing positive wage pressure so it looks like inflation could be real.what do you think?if it is a cycle change the markets will have to react ,and the Chinese not wanting to invest in our treasuries is an interesting tell best jf

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