You are on page 1of 2

)URP E  

7R E   $'$0652:'<  E   &2/%851521$/'


&F 6(/)-())5(< E  
E    
6XEMHFW 5()HQFH0DS

'DWH )ULGD\0DUFK30

1RZWKDWZH¶YHGRQHRXUYHWWLQJSURFHVVIRUWKH DFWXDOQXPEHUVWHUPVDQGVXFK ,¶OOH[SUHVVD


FRQFHUQ,KDYHRYHUWKH PDSGHSLFWLRQ

:HWHOOIRONVWKDWZHHPSOR\IHQFLQJ SHGHVWULDQ DQGYHKLFOH IRUVSHFLILFSXUSRVHV DQGWKDWWKH WRWDO
DPRXQWGRHVQ¶WUHDOO\ DPRXQWWRDORWRIPLOHVZKHQ FRPSDUHGZLWKWKH PLOHVRIERUGHU,I \RXWHOO
VRPHRQHWKDWRXW RIQHDUO\PLOHVRIVRXWKZHVWERUGHUZHKDYHPLOHVRISHGHVWULDQIHQFH
DQGPLOHVRIYHKLFOHIHQFHDQGWKDWWKH IHQFLQJLVSODFHGDWVSHFLILFVWUDWHJLFDQGWDFWLFDO
ORFDWLRQVDORQJWKH ERUGHUWKDWFUHDWHVD³PLQGV H\H´YLVXDORIRQO\VPDOOVHFWLRQVRIIHQFHLQNH\
ORFDWLRQV

,ZRXOGH[SHFWWKDWHYHQZKHQ ZH¶UH GRQHZLWKWKH IHQFLQJWKH DPRXQWVRIWRWDOIHQFH SURMHFWHGDW
OHVVWKDQPLOHVRISHGHVWULDQDQGYHKLFOHFRPELQHG ZLWKDVLPLODUGHVFULSWLRQZRXOGVWLOOSUHVHQW
WKDW³PLQGV H\H´LPSUHVVLRQRIQRW EHLQJRYHUZKHOPLQJ

+RZHYHUZKHQ GHSLFWHGLQWKH PDQQHU WKDWWKLVPDSGRHVHYHQWKH VPDOODPRXQWZHKDYHWRGD\
DSSHDUVWREHPXFKPRUHWKDQLVDFWXDOO\ LV, NQRZWKLVLVWRXJKEXW VKRXOGZHVKRZSHGHVWULDQ
IHQFHDQGYHKLFOHIHQFHDVGLIIHUHQWFRORUVDVRSSRVHGWRGLIIHUHQWVKDGHVRIWKH VDPHFRORUDQGLV
WKHUHDZD\WRPDNHWKH PDUNVRQWKH PDSPRUHFOHDUO\VKRZWKH JDSVEHWZHHQWKH IHQFHV"'RZH
QHHGWRFRQVLGHUHLWKHU  EUHDNLQJWKH YLVXDOGRZQ WRPRUHWKDQRQHPDS E\ VWDWHRUHYHQE\VHFWRU
WRJHW JUHDWHU³JUDQXODULW\´RU  SODFLQJYHU\VPDOO³PDUNHUV´RQWKH PDSDQGXVLQJ YHUELDJH ;PLOHV
WRWKH HDVWDQGZHVWRI(O3DVR3RUWRI(QWU\ WRGHVFULEHWKH EDUULHU"

,¶PFRQFHUQHGWKDWWKH YLVXDOWKDWWKLVPDSSUHVHQWVZLOO DFWXDOO\ OHQGLWVHOIWREHXVHGE\WKRVHZKR
FODLPZH¶UH EXLOGLQJDZDOODFURVVWKH ERUGHU

7KRXJKWV"

E 



)URP E   
6HQW)ULGD\0DUFK30
7R E   $'$0652:'<' E   &2/%851521$/'6
&F6(/)-())5(<' E  

6XEMHFW5()HQFH0DS

6HHDWWDFKHGXSGDWH

E  
$VVLVWDQW&KLHI3DWURO$JHQW *,6
2IILFHRI%RUGHU 3DWURO
%XUHDXRI&XVWRPVDQG%RUGHU 3URWHFWLRQ
3HQQV\OYDQLD$YH 1:
5RRP(
:DVKLQJWRQ'&

E  
E  

You might also like