EFTA00235903.pdf

Message From: Stadcman, Scotfl Sent: 2/25/2014 12:47:04 AM To: Casriel, Lyle How am you. We arc putting together your proposal and wanted to connect with you on a few questions. 1- how much cash would you like to have on hand for your personal brokerage accounts. Currently you have 2.8 million in brokerage and 3.1 million in savings accounts 2- you mentioned that you are very conservative. Your asset allocation at JPM is currently 43 percent cash 35 percent equity and 22 fixed income. Let's discuss if this is optimal for you and if such a large cash balance is necessary•. 3- we noticed that them is a very• small allocation to Munis. Is that by design. If so yours or JPM decisions. Please let me know when you have a moment to discuss. Thank you! CONFIDENTIAL UBSTERRAMAR00000174 EFTA00235903