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1.31 MB
Extraction Summary
3
People
2
Organizations
1
Locations
1
Events
2
Relationships
4
Quotes
Document Information
Type:
Email chain
File Size:
1.31 MB
Summary
This document is an email chain from July 13, 2018, between financial advisor Paul Barrett (Alpha Group Capital) and Jeffrey Epstein regarding a significant drop in a stock position (ticker AVGO). Epstein expresses extreme frustration and anger ('My patience is at its end') over Barrett's management of the trade, accusing him of bias. Barrett defends his strategy of hedging the 8,000 shares with put options valued at $52,000 amid a market decline caused by an M&A announcement.
People (3)
| Name | Role | Context |
|---|---|---|
| Paul Barrett | Financial Advisor/Trader |
Sender of the top email; works for Alpha Group Capital LLC; advising Epstein on stock positions.
|
| Jeffrey E. | Client/Investor |
Jeffrey Epstein (using email jeevacation@gmail.com); expressing anger about investment strategy.
|
| Richard Kahn | CC Recipient |
Copied on the correspondence; typically associated with managing Epstein's finances/operations.
|
Organizations (2)
| Name | Type | Context |
|---|---|---|
| Alpha Group Capital LLC |
Firm employing Paul Barrett.
|
|
| AVGO |
Stock ticker symbol (Broadcom Inc.) mentioned in the subject line.
|
Timeline (1 events)
Locations (1)
| Location | Context |
|---|---|
|
Address for Alpha Group Capital LLC.
|
Relationships (2)
Barrett provides specific stock recommendations and manages a portfolio for Epstein.
Kahn is CC'd on high-importance financial discussions.
Key Quotes (4)
"My patience is at its end"Source
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Quote #1
"The fact tgat you iwn thd stock at a higher price is affecting your decision. Sorry. This is judt ridiculous!!!"Source
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Quote #2
"Recommendation: Keep the stock and buy Aug $200 puts on the 8000 shares costing $6.50 or $52,000."Source
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Quote #3
"The stock has dropped $40 and I think we could easily recoup our premium if the market buys into the CEO’s reason for the merger."Source
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Quote #4
Full Extracted Text
Complete text extracted from the document (1,962 characters)
From: Paul Barrett [REDACTED]
Sent: 7/13/2018 6:57:15 PM
To: jeffrey E. [jeevacation@gmail.com]
CC: Richard Kahn [REDACTED]
Subject: RE: AVGO
Attachments: image003.jpg; image004.jpg
Sent: 7/13/2018 6:57:15 PM
To: jeffrey E. [jeevacation@gmail.com]
CC: Richard Kahn [REDACTED]
Subject: RE: AVGO
Attachments: image003.jpg; image004.jpg
Importance: High
We own 8000 shares on the thesis that their growing exposure to data center capex spend would be a big positive for the stock.
Recommendation: Keep the stock and buy Aug $200 puts on the 8000 shares costing $6.50 or $52,000. Nothing has changed regarding their core business. Data center spending is not going to change based off this M&A transaction. However if I am wrong and the market further penalizes the stock at least our losses are contained. The stock has dropped $40 and I think we could easily recoup our premium if the market buys into the CEO’s reason for the merger.
If I never had a position I would absolutely buy the stock using options. I would be selling October $185 puts and buying Oct $220 calls costing 50c/share.
Paul
Paul Barrett
Alpha Group Capital LLC
142 W 57th Street, 11th Floor, New York, NY 10019
[REDACTED PHONE NUMBERS]
ALPHA GROUP CAPITAL
Alpha Group Capital LLC
142 W 57th Street, 11th Floor, New York, NY 10019
[REDACTED PHONE NUMBERS]
ALPHA GROUP CAPITAL
From: jeffrey E.
Sent: Friday, July 13, 2018 2:18 PM
To: Paul Barrett [REDACTED]
Cc: Richard Kahn [REDACTED]
Subject: Re: AVGO
Sent: Friday, July 13, 2018 2:18 PM
To: Paul Barrett [REDACTED]
Cc: Richard Kahn [REDACTED]
Subject: Re: AVGO
Again?? How many puts ? What are the alternatives. The fact tgat you iwn thd stock at a higher price is affecting your decision. Sorry. This is judt ridiculous!!! Would you buy the stock here . ???? If you would would you also buy puts ??? My patience is at its end
On Fri, Jul 13, 2018 at 2:13 PM Paul Barrett [REDACTED] wrote:
My initial recommendation this morning was to buy the $200 Aug puts. I still think that is the best idea. The stock is now down 16% on a deal that no one fully understands. The CEO has a good track record regarding mergers. So I think it makes sense to keep the stock and own protection for the next 35 days until we hopefully get more clarity from management.
Paul Barrett
HOUSE_OVERSIGHT_031818
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