Email from Jeffrey Epstein to Richard Kahn criticizing his trading performance, 2018

From: jeffrey E. [jeeyacation@gmail.com] Sent: 7/13/2018 11:11:16 AM To: Paul Barrett Importance: High • Richard Kahn Im not angry, sorry, it is sad. it is apparent that you have no experience trading. we both made a mistake. . the spy trades were the results of a rank amatuer. . you took a postion on the direction of the market. ok. you decided to play it extra short time and short. . why? becaue the options are cheaper. ? knowing full well that time premium was running. . first silly move. . I allowed as promised to give you authority. . you set a target. . it hit the traget, you moved in back. based on media reporting on trump visit? you didnt act. the market dipped and you panicked. . AMATEUR. wrong options wrong timing, no discipline and as a percentaage of investment, a one day dip fof 25%. wanting to buy the highter strike , is ok. but why the same month? why the same moment. why the same index. . sorry. I have taught this for many years. and your grade is an F. not one good move in many. . re broadcom. the crack happend in the morning, options were higher. no alternative presented. no analysis. , this is no way to manage money. I have lost a great deal of money hoping you would be able to do as you promised you could . would. . Had you told me, jeffrey I d like to try a new job as a manager lets start slow I can learn. i would be less annoyed. you told me you had great confidence knew the risks and truly believed you would be able to raise money .do well and prosper. . If it were not you, this would have ended months ago. . we should work on a solution. not sure yet what shape it takes.¶