Internal email discussing failed speculative options trades and possible insider information

Paul Barrett Alpha Group Capital LLC 142 W 57" Street, 11" Floor, New York, NY 10019 <image003.jpg> From: jeffrey 5. Sent: Friday, July 13, 2018 7:11 AM To: Paul Barrett i: Richard Kahn [i Subject: Im not angry , sorry, itis sad. it is apparent that you have no experience trading. we both made a mistake. . the spy trades were the results of arank amatuer.. youtook 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. . yousetatarget. . 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 isanF. notone goodmoveinmany. ._ re broadcom. the crack happend in the morning. options were higher. no alternative presented. no analysis. , thisisno 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 youtold me, jeffrey Id like to try a new job asa manager lets start slow I can learn. 1 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. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note HOUSE_OVERSIGHT_031811