<table><tr><th>From:</th><th>Richard Joslin</th></tr><tr><td>Sent:</td><td>Tuesday, February 3, 2015 12:24 PM</td></tr><tr><td>To:</td><td>jeffrey E.</td></tr><tr><td>Subject:</td><td>Fwd: Bloomberg: Mac McQuown Is Reinventing the Corporate Bond. Is He Solving a
Big Problem or Creating an Even Larger One?</td></tr></table>

Begin forwarded message:

From: Richard Joslin «mailto Date: February 3, <u>2015 at 7:01:47 AM EST</u> To: Richard Joslin < <mailto: Subject: Bloomberg: Mac McQuown Is Reinventing the Corporate Bond= Is He Solving a Big Problem or Creating an Even Larger One?

Fyi. eBond. Debt instrument embedded with CDS.

From Bloomberg, Feb 3, 2015, 12:01:03 AM

John "Mac" McQuown yanks on a chain and hoists open a metal =oll-up door with a clang. In a flowery aloha shirt, shorts and sandals, he=looks like a retiree with little more on his mind than sipping a mai tai b= the pool. But McQuown is actually one of the architects of the modern investing system, and he's far from retirin=, Bloomberg Markets <http://www.bloomberg.com/markets/markets-magazine> magazine will report in its March issue.

To read the entire article, go to http://www.bloomberg.com/news/articles/2015-02-03/meet-the-80-year-old-whiz=kid-reinventing-the-corporate-bond <http://www.bloomberg.com/ne=s/articles/2015-02-03/meet-the-80-year-old-whiz-kid-reinventing-the-corpor=te-bond>

Sent from the Bloomberg iPhone application. Download the free applicatio= at http://itunes.apple.com/us/app/bloomberg/id281941097?mt=8 <http://itunes.apple.com/us/app/bloomberg/id281941097?mt=8=>.