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<div style="color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;word-break:break-word;"> </div>
<div style="color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;word-break:break-word;"><span style="font-family: georgia, palatino;"><span style="font-size: 16px;"><em>I hope you enjoy this article. - Vitaliy</em><br /> <br /><br /></span></span></div></td></tr></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#FFFFFF" class="ep-mobile-col"><tbody><tr><td valign="top" bgcolor="#FFFFFF" style="text-align:left;"><table width="100%" cellspacing="0" cellpadding="0" class="ep-mobile-col-table-with-padding"><tr><td valign="top" class="ep-mobile-col-td" style="text-align:center;padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;"><div><div><div><a href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazrh3wczmksso9i44mjr6j6znx597ab18zw8tzkfb8egpukkrn3urq9itdd1wxu4nn5cnseykzkiah4kx3ifs4qk7jw8eronpauxoysa5un6u9ikg6bqxw67x6oydsz7fmxy" style="color:#2196F3;font-family:helvetica,arial,sans-serif;font-size:14px;text-decoration:none;height:321px;display:block;overflow:hidden;" class="ep-height-auto"><img border="0" src="http://content.epsrv1.net/image_gallery/uploaded/273/10513/vkfox.JPG" alt="" height="321" width="570" style="max-width:570px;padding-bottom:0;display:inline !important;vertical-align:bottom;border:0;height:auto;outline:none;text-decoration:none;-ms-interpolation-mode:bicubic;" class="ep-width-100-img ep-img-100"/></a></div></div></div></td></tr></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#FFFFFF" class="ep-mobile-col" style="line-height:1.5;"><tbody><tr><td valign="top" bgcolor="#FFFFFF" style="text-align:left;"><table width="100%" cellspacing="0" cellpadding="0" class="ep-mobile-col-table-with-padding"><tr><td valign="top" class="ep-mobile-col-td" height="1" style="text-align:left;padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;"><div style="color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;word-break:break-word;"><br /> <br /> <span style="font-size: 16px;"><span style="font-family: georgia,times,times new roman,serif;">In my latest 2 minutes and 29 seconds of fame, I was on Fox Business discussing why Amazon should not be blamed for all the troubles in retail-land. You can read my articles <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr31jw5a8191me57s3gpnc7zf78bwb56tqmfdiekdn74muocgo1qtbyn3zpkwzoha8xjr3qc66z4pem7aoxtdsjup3zy79ou5qmguscyd8348tshgik4ezeuaeagsbzfixybr6n31zadrdgzrit4xefp7xmp36hq4m59fxgesbncjo9fiy4egnf789kwphnh9j7497yy8px4ks6y"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">here</span></a> and <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr31jw5a8191me57s3gpnc7zf78bwb56tqmfdiekdn74muocgo1qtn6ufmt3fw6g4synpwmrbxfsj6ei3wpwgsnf59yy5tbhkuc75gmjeuttkwy7kd8k93sokzxepgpghae"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">here</span></a>.</span></span><br /> <br /> <span style="font-family: georgia,times,times new roman,serif;"><span style="font-size: 16px;"><em>P.S. If you love it, share it with all of your friends (<a style="color:#2196F3;font-family:helvetica,arial,sans-serif;text-decoration:none;font-size: 16px;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr31jw5a8191me57s3gpnc7zf78bgpx7u5c1m55s4c3oguq3ezn5w3mw3971kbb7u9r7bkh74mcq8e84a6jo4k4rjdqx1fj3etfitzx51" target="_blank"><span style="color:#2196F3;font-family:helvetica,arial,sans-serif;text-decoration:none;font-size:16px;">they can subscribe here</span></a>). </em></span></span><br /> <br /> </div></td></tr></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#FFFFFF" class="ep-mobile-col"><tbody><tr><td valign="top" bgcolor="#FFFFFF" style="text-align:left;"><table width="100%" cellspacing="0" cellpadding="0" class="ep-mobile-col-table-with-padding"><tr><td valign="top" class="ep-mobile-col-td" style="text-align:left;padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;"><div><div><div><div style="height:198px;display:block;overflow:hidden;" class="ep-height-auto"><img src="http://content.epsrv1.net/image_gallery/uploaded/273/10513/vnk.png" alt="" height="198" width="234" style="max-width:234px;padding-bottom:0;display:inline !important;vertical-align:bottom;border:0;height:auto;outline:none;text-decoration:none;-ms-interpolation-mode:bicubic;" class=""/></div></div></div></div></td></tr></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#FFFFFF" class="ep-mobile-col" style="line-height:1.5;"><tbody><tr><td valign="top" bgcolor="#FFFFFF" style="text-align:left;"><table width="100%" cellspacing="0" cellpadding="0" class="ep-mobile-col-table-with-padding"><tr><td valign="top" class="ep-mobile-col-td" height="1" style="text-align:left;padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;"><div style="color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:14px;word-break:break-word;"><span style="font-size: 16px;"><span style="font-family: georgia,times,times new roman,serif;">I am the CIO at <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr4kw6sgqk34suudqof1ebjo5ep3k3bgmxqf5jctchnrugeemj18qc"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">Investment Management Associates</span></a>, which is anything but your average investment firm. (Seriously, <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr4kw6sgqk34suudqof1ebjo5ep3k3bgmxqf5jctchnrugeemj18qc"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">take a look</span></a>.)<br /> <br /> I wrote <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr4kw6sgqk34suudqof1ebjo5ep3ab6nw7krzpw78ruhn51h46z1yh"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">two books</span></a> on investing, which were published by John Wiley & Sons and have been translated into eight languages. (Polish is one of them – go figure.)<br /> <br /> In a brief moment of senility, <em>Forbes</em> magazine called me “the new Benjamin Graham.” (They must have been impressed by the eloquence of the Polish translation.)<br /> <br /> <strong id="docs-internal-guid-fac6d1ae-7a72-3472-cb9b-793d469230a8">Not receiving my investment articles? <a style="color:#2196F3;font-size:14px;text-decoration:none;font-family: georgia,times,times new roman,serif;" href="http://clicks.epsrv1.net/click?s=708402|505645346&v=1iyd7ro168ree6wqist7ored78epe8z1n5swdwupjnir88ud7979siqf7r7fjhsbwpfg31mp19abdo65qqbpj9siz3yz7nowhrka85atg1g9tsuk1fwc9kbyshcu4zk56gb6adshpx6szn64k96r7qzc43hjxtuiuyk9385z9838ueog6qk5ospxnfcebx1uxgmw4z9jk4sahif7a3h5fbi6aosnhr54pwyazr4kw6sgqk34suudqof1ebjo5ep3bq4teuey9pcpjcex7wwe71aik7k8hwurp8zr83ipd94pqxtf1kdo"><span style="color:#2196F3;font-size:14px;text-decoration:none;font-family:georgia,times,times new roman,serif;">Sign up here</span></a>.</strong></span></span></div></td></tr></table></td></tr></tbody></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0"><tbody><tr><td height="10"></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#ffffff"><tbody><tr><td valign="top" class="footer" style="text-align:center;color:#4b4b4b;font-family:helvetica,arial,sans-serif;font-size:12px;padding-top:15px;padding-right:15px;padding-bottom:15px;padding-left:15px;"><div><div>Investment Management Associates, Inc., 5690 DTC Blvd 140W, Greenwood Village Colorado 80111, United States</div></div><div class="removable"><a href="http://epsrv1.net/subscription/unsubscribe?s=708402|505645346&v=1iyd7ro168ree6wqist7ored7fi89117qa9cdnyc4rmb838971mo5a8x8fgwhqrgifiw9gdp4nbz1695micspmmpx3ub7tb4dhxj1roc35x87q8cx9nnrndm93xbs78yqqcebaccbq3ddgsrgdmudpr7utoukwuho5chds163wdpikxq7jwbj4oor18renxefxq6knenomozg" style="text-decoration:none;color:#2196F3;font-family:helvetica,arial,sans-serif;font-size:12px;"><span style="text-decoration:none;color:#2196F3;font-family:helvetica,arial,sans-serif;font-size:12px;">unsubscribe</span></a></div></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0"><tbody><tr><td height="10"></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0"><tbody><tr><td><img src="http://open_tracker.epsrv1.net/opened?v=1iyd7ro168ree6wqist7ored7fi89117qa9cdnyc4rmb838971m55shzmwzieyybwkkzu1uwrigw7mnaktihnkkxt8m7x8f3ubzhcjsebut6ccijmarrx3h9cguz6335ja7jcwebzmhgqmr56yoifzn7h9r4xfj4o5y3hm6e7duudj5hwnoo" width="1" height="1" style="max-width:0px;max-height:0px;display:none;"/></td></tr></tbody></table></td></tr></tbody></table><table cellspacing="0" cellpadding="0" width="100%" border="0" bgcolor="#ffffff"><tbody><tr><td align="center"><table cellspacing="0" cellpadding="0" width="100%" border="0"><tbody><tr><td style="height:40px;" align="center" valign="center" width="100%"><span style="font-size:12px;font-family:Arial,Helvetica,sans-serif;color:#4b4b4b;vertical-align:middle;">Powered by</span> <a href="http://clicks.epsrv1.net/pb"><img src="http://content.epsrv1.net/no_rev/assets/powered_by_logo.png" border="0" alt="ExpressPigeon" style="vertical-align:middle;"/></a> <a href="http://clicks.epsrv1.net/pb" style="text-decoration:none;"><span style="color:#2196F3;font-size:12px;font-family:Arial,Helvetica,sans-serif;text-decoration:none;vertical-align:middle;">ExpressPigeon</span></a></td></tr></tbody></table></td></tr></tbody></table></td></tr></tbody></table></body></html>