EFTA01477363Set 10
2015-12-3069p8,427w
Info Tech P/E (LTM) Relative to S&P 500 P/E (LTM)
(AVG) S&P 500 Info Tech P/E (LTM) Relative to S&P 500 P/E (LTM)
— Technology ... well below average versus
the S&P 500.
— From an earnings perspective, consumer
discretionary, info tech and financials are
expected to be the leaders in earnings growth ... EFTA01477408
Source: FactSet, Deutsche Bank Wealth Management.
Deutsche Bank
Wealth Management
24
Consumer
Discretionary
Info Tech
Financials
Health Care
Energy
Materials
Industrials
Consumer Staples
Utilities
Telecom Services
EFTA01477409
Equity Sectors
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01477363.pdf
EFTA01459572Set 10
2015-12-311p217w
Info Tech FIE (LTM) Relative to S&P 500 P/E (LTM)
- (AVG) S&P 500 Info Tech PIE (LTM) Relative to S&P 500 P/E (LTM)
— Technology ... favorite sectors due to - From an earnings perspective, consumer
attractive valuations and fundamentals. discretionary, info tech and financials are
— In fact, valuations are well below average versus expected
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01459572.pdf
EFTA01459676Set 10
2015-12-311p217w
Info Tech FIE (LTM) Relative to S&P 500 P/E (LTM)
- (AVG) S&P 500 Info Tech PIE (LTM) Relative to S&P 500 P/E (LTM)
— Technology ... favorite sectors due to - From an earnings perspective, consumer
attractive valuations and fundamentals. discretionary, info tech and financials are
— In fact, valuations are well below average versus expected
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01459676.pdf
EFTA01363350Set 10
2011-12-231p452w
reasonable manner.' " Id. at 352 (quoting Paramedics
Electromedicina Comercial, Ltda. v. GE Med. Sys. Info. Techs., Inc., 369 F.3d 645, 655
(2d Cir. 2004)).
Accordingly, it is not unreasonable
https://www.justice.gov/epstein/files/DataSet%2010/EFTA01363350.pdf