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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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yytk5jkztnbkbi6wjxebcknhpx1doj75jucc4fntpctkifxyee94qnqedz1am4ii6xuk6pgty5q9x57apynyh78kyo5ryjxkdwtssysb4y" 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.epsrv2.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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yyt66ud1spjgejz6wp7nzu4hq4uauij7ga437tmn14tm5e89rmgza5bf7gckwpb1t7g1q81f4788bjes5qjetd1kgm4fd5ionbjkgghqbsku4qhnajm69bw67t5quqxu68qi9kagbtm74mq7k8hc5jq8nbnrgi4nixamk1qkww61ttewbyerg4o"><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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yyt66ud1spjgejz6wp7nzu4hq4ua1spg17czuifqt1tubmx9yq36w8p88remfrhj1ssidwrs51qqoi8j6y33ew8cobng5ukoq4f396r3dwm4x6ie5af36u5i94yyq49wiph"><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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yyt66ud1spjgejz6wp7nzu4hq4uao9k5mfp1y55z36gc876ajy8pzn1jwwjbqyfqbw4ma9ctfwzu8zzh" 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.epsrv2.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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yytbyxsf655yoas6twph6d7ppafxiwmgxo6y1otwsss7bzupk56ogty"><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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yytbyxsf655yoas6twph6d7ppafxiwmgxo6y1otwsss7bzupk56ogty"><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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yyt1r8n4ni1shxios1iehsgcsjqd1t63mxhyfz3rzifsbracmew7pfo"><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.epsrv2.net/click?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7gsz8nrbs5kpbfxnpt6g9xxfzipckh3m8457n9ohizwcqdoicih4r4f17ax5nsdwnixtbhytfk9qod4ntaiyoo4hu5h7dab4dro1j6kpi9s84uoretpuxytseac75u3ftjnkrr363u1ywhza5uwjadrjyfmigj5f9ibc19n9pxj8ziphwjb8z8ko7tx6pwxj9dgyc4kuw3pbmossxgix65s1i3guobq89s5x6yytdj1enchodz7aibumsgganss9rano5bzz9zq8436zhf3thhtwgkj74ijkk9z9rg8ihh9d8fft958k6"><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://epsrv2.net/subscription/unsubscribe?s=729379|505645346&v=1iyd7ro168ree6wqist7ored7fcqo1qcsf6jcmfuruyfgtmq91qg81q1jgy75re57qfy7bsiih5gzyrbzde3ccy6ug6dgeocc881fccnrpnem3urrh1y14oxapxex7g7u4kkeot549r7s7gpoujrm7muiikyzmsrrpoprbet3u5cnks9jcoaegh61mgdn45bdqcsmy44ask8h" 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.epsrv2.net/opened?v=1iyd7ro168ree6wqist7ored7fcqo1qcsf6jcmfuruyfgtmq91qxmdqk9ii1os55t16sshre5knmj53o48itizbpehs5f8bjzfksfohjse3f437zboxc34mz1by8mf1t3b68jth4g4qcezzzhkgu7b51jhqnni3rzbibd5zrqy5o6js5hdny" 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.epsrv2.net/pb"><img src="http://content.epsrv2.net/no_rev/assets/powered_by_logo.png" border="0" alt="ExpressPigeon" style="vertical-align:middle;"/></a> <a href="http://clicks.epsrv2.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>