About

Amvona is a blog founded by Rev. Fr. Emmanuel Lemelson that provides opinion and analysis on issues of Faith, Investing and Economics. The word Amvona is derived from the ancient Greek word for "Pulpit" (άμβων).

Fr. Emmanuel Lemelson at a microphone
On this page

Lemelson is a Greek Orthodox priest, activist investor, and creator of The Fr. Emmanuel Lemelson Podcast, which reveals the darkest corners of government, corporate America, and culture with commentary from an Orthodox Christian perspective.

He is the chief investment officer of Lemelson Capital Management, LLC, the sole sponsor and general partner of The Amvona Fund, LP, which several times has been named the world's top-performing hedge fund according to financial media outlets WSJ and Barron's. In December 2023, Hedge Fund Research ranked The Spruce Peak Fund, LP, among the top-performing equity funds.

His investment research and analysis have been cited in The WSJ, Bloomberg, CNBC, USA Today, New York Post, Fox Business Network, Fortune, Forbes, Barron's, Business Insider, International Business Times, Reuters, MarketWatch, and TheStreet.com and credited with influencing share prices in publicly traded companies.

His ongoing battle with U.S. regulators over Ligand Pharmaceuticals (NASDAQ: LGND) and his years-long unlawful prosecution, stemming from fraudulent SEC allegations, continues to make headlines. During the 2021 prosecution, the lead SEC prosecutor called Fr. Emmanuel “a top hedge fund manager with top results in the world” and stated, “Apparently, those results are based on lies… that’s the key part of this scheme.” A Federal jury rejected the SEC’s fraudulent claims, and Fr. Emmanuel’s extraordinary performance has not been challenged since.

Read: Not Liable. The Unlawful Prosecution of Fr. Emmanuel Lemelson

Barron’s has called Lemelson an “outspoken” short seller who “wouldn’t settle,” while Benzinga compared his firm to Smith Barney. Lemelson’s role as a mentor and advisor to global star Mark Wahlberg was featured in the hit HBOMax docuseries Wahl Street, with the executive producer later comparing Lemelson to John Forbes Nash Jr.

His position on the role of the Orthodox Church has been cited in The Washington Post, CBS News, Fox News, The Boston Globe, and The Boston Herald, among others. Lemelson has also been cited in and written for The National Interest.

Prior to his ordination in 2011, Fr. Emmanuel had 17 years of experience as a successful entrepreneur, including authoring multiple patents in design, business processes, and software architecture. As a graduate student, he founded, amongst other businesses, the internet site Amvona which achieved ~120% CAGR between 1999 and 2006. In 2005 Amvona ranked among the ten most-visited photography-related internet sites.

He is the founder and president of The Lantern Foundation, a 501 (c)3 private foundation that provides financial support to Christian organizations as well as the founder of the Stowe conference for charity.

Fr. Emmanuel graduated from Seattle University with a B.A. in Theology and Religious Studies and Holy Cross Greek Orthodox School of Theology with an M.Div, and has served parishes in New England and Switzerland.

Watch: Fr. Emmanuel on Fox Business News Varney & Co. here


Watch: the latest video at video.foxbusiness.com

Watch Fr. Emmanuel on Fox News a Spirited Debate here


Watch: the latest video at video.foxnews.com

Master Investor Magazine - Fund Manager in Focus by amvona on Scribd

Readership and Influence Today - Security Analysis

Gregory Lemelson of Lemelson Capital has also been releasing short thesis research reports on Ligand since 2014, and his short positions have reportedly earned millions of dollars in profits for him and the hedge fund he operates."

The Investment Strategist, February 28, 2019

Lemelson Capital focuses on value and special situations, but it is one of the few that builds ethics into its decisions"

Paul Springer, May 18, 2018, The Deal

In a world where replicating what others do while taking on some extra leverage seems to be the main game, there are still a few that detach from society in general to seek out value. Lemelson proves that it doesn’t matter what you do but how you do it. Be it e-commerce, Finance, investment, or theology, a successful individual is one that is able to at some point detach from the herd and start thinking independently"

Filipe R. Costa, June 2015, Master Investor Magazine

In the old days, when Smith Barney spoke, people would listen. In today's market, when Lemelson speaks, investors may want to listen up as well."

Joel Elconin, September 11, 2014, Benzinga.com

Kulicke & Soffa Industries jumped nearly 7% Tuesday after Lemelson Capital Management announced it was building a stake in the semiconductor and LED equipment maker, saying the company is "absurdly" undervalued... Lemelson made news earlier this month when the investment firm said pro wrestling firm World Wrestling Entertainment was way overvalued, sending the shares down more than 35%" 

Gary Strauss, April, 22, 2014, USA Today

Amvona Short Call Sends WWE Tumbling”

April 7, 2014, ValueWalk

The following are just a few more of the thousands of comments that can be found online: 

Brilliant"— SeekingAlpha.com

One of the finest articles I have ever read on the internet..."— SeekingAlpha.com

This is a truly superb article..."— SeekingAlpha.com

Strictly awesome analysis..."— SeekingAlpha.com

Great call and analysis... some of the best I have ever seen."— Christopher D Licata, Rayfield and Licata, CPAs

Fantastic analysis. I wish analysts are half as logical as you..."— SeekingAlpha.com

Rev. Emmanuel Lemelson, an extremely talented hedge fund manager..."— Steven Borovay, CFP, Contributor, SeekingAlpha.com

Wow, amazing breakdown of this company and its stock. Very informative and highly detailed..."— W. Walker Jr., Contributor, SeekingAlpha.com

I have never commented on an article in my life but I felt I must take time out of my day to say thank you Mr. Lemelson for the well written, excellent analysis of the Skechers Company... Your article added a great deal of clarity to the situation and I think your assessment is fair and closer to the truth than any that I have seen in a while. Keep up the good work sir, I was beginning to believe that there were no more sane, rational analyst/ commentators out there and you have restored my perspective. Good job and a good day to you...."— SeekingAlpha.com

Spectacular analysis and conviction and you have proven yourself to be an incredible analyzer of companies. You really put the time in and you share every nook and cranny of your analysis. Wall street analysts should be embarrassed by their research compared to yours. Plus, you are committing your own capital to your ideas. Three people I now follow obsessively: Doug Kass, Mohammed El Erian and Gregory Lemelson. Well well done. ...."— SeekingAlpha.com

In my mind an extraordinarily well written and thought provoking article, not to mention a refeshing change from the gridlock of "Apple Valuation" articles out there. I really enjoyed reading it and in fact, it is one of the few on Apple of late that I read from beginning to end. I thank the author sincerely for his unique contribution."— SeekingAlpha.com

Imagine my surprise when I open up today's Barron's to see the Amvona Fund tops for July! Congratulations. I hope this leads to a flood of money and continued success. You have earned it." — Christopher D Licata, Rayfield and Licata, CPAs

SA author Amvona ranks first among hedge funds, again" 

Amvona Fund, a Seeking Alpha contributor, tops Barron's best hedge fund list again in October, boasting one-year returns of 119.6% and one-month returns of 13.4%.  Amvona picks featured on SA include Skechers (SKX) +71% and Western Digital (WDC) +121%."—Seeking Alpha - Market Currents

Thank you for one of the most... entertaining articles ever to appear on SA..."— SeekingAlpha.com

Wow! Fantastic Article!"— SeekingAlpha.com

I tip my cap to Emmanuel Lemelson..."— Michael Ranalli, SeekingAlpha.com

Thanks for this very fascinating article..." — SeekingAlpha.com

Wanted to say, what an excellent write-up on WWE! Quite comprehensive and includes a hint of caution on the irrationality of the markets even at these valuations." — SeekingAlpha.com

A fascinating article; much more informative and well-written than the usual fare..." — SeekingAlpha.com

Love your humor and insights..." — SeekingAlpha.com

...Your article on Cisco from Feb. 13, 2011 ranked 265th that year (out of 67,978 articles), putting it in the top 99.9961%. Pretty impressive stuff...”

Daniel Shvartsman
Senior Editor - Seeking Alpha Pro
www.seekingalpha.com

Great Job Indeed... Eli Hoffmann VP of Content - Editor in Cheif - Seeking Alpha www.seekingalpha.com
Thoroughly enjoyed your article. Great writing style. One of the best I've read recently. Thank you." — SeekingAlpha.com
I look forward to your next idea - I am very impressed with the work you put out... it's never to late to read one of your reports"— Anonymous RIA (100 M AUM), Menlo Park, CA 
This article is just fantastic!!! It is the best written logical and to the point discussion on the topic.  I am sure if you use the same logic in your priesthood then I am sure God exist!!!  I actually was in search of inspiration like this but could not find it on my own."— Dr. Nicolas Jabbour,Professor of Surgery - Umass Medical School
Thanks for this compelling and well researched overview of WDC overall business world... with a humor touch as a bonus." — SeekingAlpha.com
Excellent piece..."— Adib Motiwala, GuruFocus.com
Nothing more to add but Bravo."— SeekingAlpha.com
Excellent article in describing investor psychology. Appreciate you taking the time to prepare as this is good reading for any type investor. Also, very good timing." — SeekingAlpha.com
...thank you so much for preaching to this choir member.  I feel as though Matt Taibbi and, now, you are the only people, of whom I am aware, that adequately articulate that:  Not only does the emperor have no clothes but possibly no Empire without our cooperation.  Well done!"— SeekingAlpha.com
I was recently re-reading your Oct. 31 article (here) on how Western Digital is an ideal acquisition target. The stock is up 40% since you wrote that article, so a hearty congratulations on the long position...  The share price appreciation has certainly paid off for investors...  I'd love to hear your thoughts on the topic... I'm sure SA readers would feel the same..." Best, Rachael Granby Director of Buyside Content www.seekingalpha.com
...another great article series, mirroring great thinking..." — SeekingAlpha.com
Thank you very much for such a thorough and detailed article"— SeekingAlpha.com
Great Article...Thanks again for a well researched article" — SeekingAlpha.com
...your article was a very good read..." — SeekingAlpha.com
Finally, someone is telling the entire truth about Cisco... I am thankful for your research and candid article. History will prove you are right... Thank You"— SeekingAlpha.com
...while generally agree with your article, I'd like to point out something you may have missed: You may have a great second avocation as a writer of humorous financial articles. Heaven knows, WE NEED IT!  Thanks for a very deliberative essay, and delivering it in a very readable format!"— SeekingAlpha.com
This is yet another clear, concise, yet thorough analysis of Western Digital and the HDD industry, thank you... your captioned blog is leading the list of article links I am publishing in my aggregate news service today. It is emailed to over 400 HDD, investment, and supply chain execs in the industry twice per week. I really felt that you nailed it and that you have done so consistently over the last several months.  It was time to highlight you to friends and clients in the industry."— Gary Davis, Davis Consultants Asia
I give credit when credit is due and you Gregory really do your homework when you invest I give you that... I been following you for a few years now and all your articles on WDC, and I for one will be buying again if it dips, or has some correction, I think it is an outstanding business and at a very undervalued price like you pointed out.  You are really good at analyzing businesses that is for sure.  I take few peoples advice when it comes to investing since most people simply don't have a clue even on here, but I always listen to yours since our investing style is so similar and since you make so much sense and everything is so well thought out by you.  Keep up the good work..."— GuruFocus.com
Those who shorted the stock at its peak (most notably Lemelson Capital, who also wrote a very compelling thesis to support their short position) would now be looking at a very handsome return."— David Tristan Liu, SeekingAlpha.com 
Congrats on being correct about SKX... thank you for making us $$$...”— SeekingAlpha.com

Readership and Influence - Economic Analysis:


On October 21st, 2011 the Commonwealth of Massachusetts Southern Essex District Registry of Deeds (which is overseen by the Secretary of the Commonwealth) published a link to a pdf version of the amvona article "Houston, we've got a problem - Bevilacqua" on their home page with Register of Deeds John O'Brien commenting:

Keep doing what your doing.  Not many people are willing to stand up to the big banks that have decided that they don’t have to play like everyone else...  Thanks to people like you the complicated matters and cases involved are being broken down into understandable, common language that is getting the information out Main Street.  Wall Street isn’t happy … but shame on them in the first place for participating in these fraudulent schemes."—John O’Brien, Register of Deeds

In October of 2011 the same article was featured by SeekingAlpha (which has over 50 million unique monthly readers) in "Market Currents" with the editors commenting:

Greg Lemelson makes the case that a little-noticed Massachusetts Supreme Court decision this week basically made all foreclosure sales in MA over the past 5 years "wholly void." Of particular interest is the remedy to those who find themselves with worthless title - it's not against the foreclosed homeowner, but against the bank/servicer that improperly foreclosed."—SeekingAlpha, Market Currents

Prominent Attorney and consumer advocate Neil Garfield has said of the Amvona article "Houston, we've got a problem - Bevilacqua": 

...the best current status report for the mortgage mess that I’ve seen this week or for that matter, this year. It’s worth studying because it fills in a lot of spaces with real information and reality applied to the gaslight environment created by Wall Street." —Neil Garfield, LivingLies Weblog

Nationally recognized homeowner advocate Lisa Epstein commented on the Amvona article "Eaton - Dividing the Mortgage Loan and Affirming the Consequent":

Beautifully written.  Lyrical and truthful.  Thank You Gregory M. Lemelson" —Lisa Epstein, ForeclosureHamlet.org

 Writer Mike Bevel says of the Amvona article "Houston, we've got a problem - Bevilacqua":

Hey, do you live in Massachusetts? And did you buy a bank-foreclosed house? In the last five years? Oh boy. You’re probably going to want to sit down for this. You kept your moving boxes, right? And receipts? Because things are about to get a little complicated in the Bay State.." —Mike Bevel, InsideArm.com

Nationally recognized foreclosure defense Attorney Mark Stopa says in referencing the Amvona article "On the ethics of mortgage loan default": 

...a fascinating article about strategic default. There are a ton of terrific arguments and one-liners, but two parts I really like: (1) the conclusion it is unethical to pay a mortgage; and (2) criticizing foreclosure defense lawyers who advocate against strategic default, concluding that position is a byproduct of fear, shame, and guilt, not reason."—Mark Stopa, Stopa Law Firm
This is a fantastic article written by Gregory M. Lemelson... I like his writing style... this article is a fun read, while somewhat tragic, when you understand what is and has been happening in our country. It is also highly instructive and articulates well many of the pertinent issues in this foreclosure scam around our country – which is nothing more than the seizure of homes and wealth in a massive transfer of money and property to the 1%."— Lane A. Houk, War on the Home Front (On Eaton – Dividing the Mortgage Loan and Affirming the Consequent)
This is an incredible Article...."  - Tony Wikrent, Real Economics (On the ethics of Mortgage loan default)

A Few References - Faith and Religion

Romfea.gr -Ένας κληρικός που συνδυάζει τις επενδύσεις με την Πίστη! (January 31, 2019) Advocate - Local priest and entrepreneur shines light on the business of religion (August 22, 2018) NTV.ru - Угроза или шанс: затронет ли Россию торговая война США и Китая  (March 7, 2018) Romfea.gr - Κληρικός μιλά για τον Θεό σε Επιχειρηματίες και πολιτικούς Ηγέτες (Nov 24, 2017)

Benzinga - Guidance For Christian Investors From The Berkshire Annual Meeting (May 13, 2017)

Romfea.gr - Ομιλία π. Εμμανουήλ Λεμέλσον ενώπιον Επενδυτών και Επιχειρηματιών (May 10, 2017)

Aleteia - Priest-investor explains how the Parable of the Talents holds key to wealth (April 29, 2017) Romfea.gr - π. Εμμανουήλ Λεμέλσον: ''Η Χριστιανική φιλοσοφία των επενδύσεων'' (April 19, 2017)

Santa Monica Observer - Report: Apple to Begin Assembling iPhones in the United States, As Donald Trump Predicted (November 20, 2016)

Intermagazin.rs - VATIKAN I ZAPAD U ČUDU! Tramp kod pravoslavnog sveštenika! Pravoslavac će voditi finansije Amerike!? (November 15, 2016)

Romfea.gr - Ένα παρεκκλήσι της Αγίας Αικατερίνης στην καρδιά του Βερμόντ (November 11, 2016)

Kmib.co.kr - [최병규 목사 기고]트럼프 대통령 당선이 한국기독교에 던지는 의미 (November 10, 2016)

Stoxos.gr - ΑΠΟ ΟΡΘΟΔΟΞΟ ΚΛΗΡΙΚΟ ΕΥΛΟΓΗΘΗΚΕ Ο ΤΡΑΜΠ ΠΡΙΝ ΤΗΝ ΤΕΛΙΚΗ ΑΝΑΜΕΤΡΗΣΗ (November 9, 2016)

Romfea.gr - Ορθόδοξος Κληρικός ευλόγησε τον Ντόναλντ Τραμπ! (November 9, 2016)

Aleteia - Watch:  The beginnings of a family chapel in the heart of Vermont  (November 2, 2016)

Pravoslavie - Watch:  The beginnings of a family chapel in the heart of Vermont (November 2, 2016)

OCN - Family Honors St. Katherine with a Chapel (October 28, 2016)

Boston Globe - Advocates call for removal of top Greek church official (October 12, 2016)

The National Interest - How American Christians Should Respond to Islamic Extremism (June 21, 2016)

Business Insider - Christian leaders come to Donald Trump’s defense amid spat with ‘confused’ pope (February 20, 2016)

Le Monde - L’habit ne fait pas le moine - (November 10, 2015) Fox Business - Meet the priest of Wall Street (November 5, 2015)

Wall Street Journal - The Priest Who Moonlights as a Hedge-Fund Manager  (October 26, 2015) 

The National Herald - Trump Blessed by Greek Orthodox Priest (October 16, 2015)

Sabah - Fonların kralı Papa'yla geldi (December 5, 2014) 

Fox News - Pope calls for an end to religious extremism (December 4, 2014)

FINalternatives - Hedge Fund Manager Lemelson Meets With Pope (December 4, 2014) 

HedgeCo.net - Hedge Fund Manager Joins Papal Delegation (December 3, 2014)

Aleteia - Pope-Patriarch Meeting Moved Churches Closer to Unity, Experts Say (December 3, 2014)

Lisa Daftari - Fox News - Pope calls for unity between Churches to combat persecution  (December 2, 2014)

The Pilot - Some see unity vision reignited by pope, patriarch's gestures in Turkey (December 2, 2014)

The Washington Post - Pope Francis makes overtures to Orthodox and Muslims, but steep challenges remain (December 1, 2014)

CBS News - Part 1: Rev. Fr. Emmanuel Lemelson, founder and President of the Lantern Foundation (November 30, 2014)

CBS News - Part 2: Rev. Fr. Emmanuel Lemelson, founder and President of the Lantern Foundation (November 30, 2014)

The Boston Herald - Church’s long schism seen as shrinking (November 30, 2014)

Crux Now - Americans say Pope/Patriarch meeting will boost US dialogue (November 30, 2014)

The Lantern Foundation - Fr. Emmanuel Lemelson discusses religious freedom, human rights, faith and more with journalists (November 28, 2014)

The Washington Post - 3 things Pope Francis hopes to accomplish in Turkey (November 26, 2014)

Orthodox Christian Network - Not Just A Photo Op  (November 25, 2014) Digital Journal - Amvona blog to donate $100,000 to charity from defamation lawsuit (Feb 26, 2013)

A Few References - Security Analysis and Investing

Barron's - Hedge Fund Alleges SEC Bias in Short-Selling Case (February 19, 2020)

AlphaWeek - Lemelson Capital Increases Ligand Pharmaceuticals Short (July 30, 2019)

Benzinga - Long-Time Ligand Short Increases Position As Shares Fall 11% On Earnings (July 30, 2019)

Benzinga - Emmanuel Lemelson Issues Press Release Highlighting A Renewed Call For Probe In Alleged Accounting, Securities Fraud, SEC Failures At Ligand  (January 16, 2019)  Benzinga - Ligand Pharmaceuticals hit by bearish Citron report (January 16, 2019) Benzinga - Rev. Emmanuel Lemelson on PreMarket Prep for December 28, 2018 (December 28, 2018)

ValueWalk - Lemelson Capital: Ligand Pharmaceuticals (LGND) Shares Plunge 52% (December 17, 2018) Barron's - Tesla CEO Elon Musk Is Wrong About Short Sellers (October 15, 2018)  Metrowest Daily News - Rev. Emmanuel Lemelson releases letter (July 18, 2018) TheFly - Lemelson CIO calls on Congress to probe SEC failure to prosecute Ligand (July 13, 2018) The Deal - Lemelson Capital Wants to Toss Geospace Execs (May 18, 2018) Benzinga - Rev. Emmanuel Lemelson on PreMarket Prep for May 11, 2018 (May 11, 2018)

Metrowest Daily News - Lemelson Capital Management calls for leadership changes (February 14, 2018) Benzinga - Lemelson Capital Demands Geospace Replace Leadership, Explore Company Sale (February 12, 2018) ValueWalk - Lemelson Capital Management calls for Removal of Geospace Technologies (February 9, 2018) Reuters  - BRIEF-Lemelson Capital Management Says Urging Geospace Technologies' Board To Explore Immediate Sale Of Co  (February 09, 2018)

Benzinga - Rev. Emmanuel Lemelson on PreMarket Prep for January 26, 2018 (January 26, 2018)

Activist Insight  - Lemelson: Domino's has the worst corporate governance  (Jan 23, 2018)

PBHFA   - The PBHFA Welcomes The Hedge Fund Priest (Jan 20, 2018) Reuters  - BRIEF-Lemelson Capital Management Announces 10 Pct Stake In Geospace Technologies  (Dec 1, 2017)

TheFly     - Lemelson reports 10% stake in Geospace, urges share repurchases  (December 1, 2017)

Benzinga - Rev. Emmanuel Lemelson on PreMarket Prep for November 10, 2017 (November 10, 2017)

Benzinga - Rev. Emmanuel Lemelson on PreMarket Prep for August 25, 2017 (August 25, 2017)

TearSheet - How socially responsible investing is moving beyond the wealthy (June 20, 2017) Benzinga - Fr. Emmanuel Lemelson Gives Deep Insight Into His Domino's Short (April 17, 2017)

Benzinga - Transcending Speculation: Fr. Emmanuel Lemelson Parses High-Level Market Strategies (April 17, 2017)

Benzinga - Domino's Falls Following Negative Sales Growth Report (April 7, 2017)

Benzinga - Domino's Stock Isn't Worth More Than $60 Per Share: Lemelson  (February 27, 2017)

SuperInvestor Bulletin's Blog: 30.43 Percent Annualized Rate Of Return For This Firm You've Never Heard Of (January 23, 2017)

MetroWest Daily News - Lemelson Capital Management announces results (January 20, 2017)

HFMWeek - Hedge fund priest announces 85% return for flagship fund (January 19, 2017)

ValueWalk - Lemelson Capital Amvona Fund Claims 85% Return In 2016 ; Ups Short In DPZ (January 18, 2017)

Benzinga - Domino's Pizza Is Lemelson Capital's Biggest Short, Debt Structure 'Resembles A Pyramid In Shape' (January 18, 2017)

TheFly - Lemelson urges Senate committee to investigate Ligand over alleged price abuses (December, 21, 2016)

Benzinga - Lemelson On Ligand: Intrinsic Value Is Zero (December 21, 2016)

Stock Market Daily - Nailed It: Skechers Hit A New Low On Friday And This Hedge Fund Shorted It In 2015 (October 23, 2016)

ValueWalk - SKX plunges 17% – See Lemelson Commentary from Q2 2015 (October 21, 2016)

ValueWalk - Ligand Pharmaceuticals Inc LGND Plunges Amid Amgen News (September 27, 2016)

Yahoo Finance - Drug Price Bubble A Result Of Decade-Long Economic Policy Issues (September 27, 2016)

Whotrades - Do You Trust An Orthodox Priest? He's An Expert Who Loves Geospace (June 3, 2016)

Benzinga - Geospace Could Become A $65 Stock In 4 Years (May 11, 2016)

Benzinga - Skechers Sprints Past Revenue Expectations; Lemelson Still Short Stock (February 10, 2016)

Yahoo Finance - EXCLUSIVE: Why Lemelson Is Still Short Netflix (February 8, 2016)

SeekingAlpha - Lumber Liquidators roundup: Good calls, bad calls, and Wall Street snoozes (December 16, 2015)

Benzinga - Tilson Covers Short Position In Lumber Liquidators; Hedge Fund Manager Says Company 'Isn't Evil'  (December 15, 2015)

Benzinga - Rev. Emmanuel Lemelson, Founder and President of the Lantern Foundation - #PreMarket Prep for December 9, 2015 (December 9, 2015)

Benzinga - Rev. Emmanuel Lemelson, CIO of Lemelson Capital Management - #PreMarket Prep for October 30, 2015 (October 30, 2015)

Benzinga - Lemelson: Skechers Still A Short After Losing A Third Of Its Share Value (October 23, 2015) 

Benzinga - Rev. Emmanuel Lemelson, CIO of Lemelson Capital Management - #PreMarket Prep for September 25, 2015 (September 25, 2015)

Benzinga - Hedge Fund Manager: Why Would Anyone Sell Apple? (August 13, 2015)

Yahoo Finance - Fr. Lemelson Has Not Lost Faith In Apple, The 'Finest Run Company In Modern Economic History'  (August 13, 2015)

Benzinga - Rev. Emmanuel Lemelson, CIO of Lemelson Capital Management - #PreMarket Prep for August 12, 2015 (August 12, 2015)

SA Breaking News - Kulicke & Soffa brushes off FQ3 miss, soft guidance; 3.8M shares repurchased (August 4, 2015)

Yahoo Finance - Roth Capital Analyst Squares Up Against Hedge Fund In Ligand Pharma  (July 29, 2015)

Benzinga  - Rev. Emmanuel Lemelson, Lemelson Capital Management CIO - #PreMarket Prep for July 17, 2015  (July 17, 2015)

Yahoo Finance  - Exclusive: Why This Hedge Fund Manager Is Short Netflix  (July 17, 2015)

Benzinga - Could Greece Find a Safe Haven In U.S. Markets? (July 2, 2015)

ValueWalk - Fr. Emmanuel Lemelson Discusses Apple’s Economic Prospects, World Wrestling Entertainment  (June 24, 2015)

MasterInvestor Magazine - Fund Manager In Focus – Emmanuel Lemelson (June 8, 2015)

Benzinga - Lemelson Doubles Short Position In Ligand Pharmaceuticals, Says It's Created 'Pyramid Scheme Of Shell Companies'  (June 7, 2015) 

Benzinga - This Mega-Hedge Fund Manager Is Short Sketchers (June 6, 2015)

Barron's - Emerging Markets Slump For Week: Greece & Venezuela Need Cash, India Needs Rain  (June 5, 2015)

Benzinga  - Rev. Emmanuel Lemelson, Lemelson Capital Management CIO - #PreMarket Prep for June 5, 2015  (June 5, 2015)

Wrestling Inc. - SmackDown Viewership Suffers Big Drop, WWE Stock, CIO Pessimistic About Network, Big Show Movie Pic (May 1, 2015)

Barron's - Stocks Climb 2% as Nasdaq Tops 15-Year Record (April 27, 2015)

Benzinga  - Rev. Emmanuel Lemelson, Lemelson Capital Management CIO - #PreMarket Prep for March 27, 2015 (April 27, 2015)

Benzinga - This Hedge Fund Manager 'Wouldn't Be Surprised' If iPhone Units Hit 60 Million  (April 27, 2015)

ChineseFN - LL財報助陣持續反彈,前方是重生?(基金經理獨家專訪) (April 7, 2015)

ChineseFN - TIF受美元"迫害",看她如何自救(獨家采訪分析師觀點)  (April 2, 2015)

USA Today - Smack down at World Wide Entertainment  (March 30, 2015)

Benzinga - WWE Slips On Network Subscriber Data  (March 30, 2015)

Benzinga  - Rev. Emmanuel Lemelson, Lemelson Capital Management CIO - #PreMarket Prep for March 24, 2015 (March 25, 2015)

FINalternatives - Emmanuel Lemelson Questions Leadership, Strategy at WWE (March 19, 2015)

Benzinga  - Hedge Fund Manager Questions WWE's Partnership With DraftKings  (March 19, 2015)

ChineseFN  - 【專訪】對沖基金經理:LL或將跌到 “0” (March 13, 2015)

Benzinga - This Hedge Fund Manager Spoke With Lumber Liquidators' Chairman -- Here's What He Thinks  (March 11, 2015)

Benzinga - This Hedge Fund Manager Is 'Increasingly Confident In The Success Of Apple Watch (March 09, 2015)

Yahoo News - Tilson's Lumber Liquidators Story Doesn't Add Up, Lemelson Capital CIO Says (March 03, 2015)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show (February 20, 2015)

Benzinga - WWE Puts 'Choke Hold' On Doubters; Rev. Emmanuel Lemelson Was Right All Along  (February 13, 2015)

Wrestling Inc. - Vince McMahon is apparenty a genius again, analyst still wants WWE sold, earnings call, more (February 13, 2015)

Yahoo News - WWE Rises On Earnings Beat, But Are Investors Missing Something?  (February 12, 2015)

HedgeCo - This Hedge Fund Manager Says 'Stay Away' From Alibaba  (January 29, 2015)

Benzinga - Mega-Hedge Fund Manager: Facebook's Stock Price 'Hardly Represents Any Sort Of Value'  (January 28, 2015)

Benzinga - Hedge Fund Manager On WWE: Giving The Service Away For Free Probably Won't Help Earnings  (January 28, 2015) Benzinga - Hedge Fund Manager Expects 70-75 Million Apple iPhones Sold In FQ1 (January 27, 2015)

Benzinga - Why this hedge Fund Manager Thinks Apple Watch Doesn't Need To Succeed In 2015 (January 26, 2015)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show (January 23, 2015)

Benzinga - Why this hedge Fund Manager Sees Apple At $150 (December 30, 2014)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show (December 22, 2014)

GiveMeSport - WWE: Vince McMahon urged to quit by hedge-fund manager  (December 15, 2014)

SportsKeeda - WWE touts Social Media numbers, Hedge-Fund manager wants Vince McMahon replaced as CEO  (December 14, 2014)

KocoSports - Lemelson Capital say WWE need to focus on monetization of content not YouTube views and Social-Media followers (December 14, 2014)

FINalternative - Lemelson Shrugs As WWE Preens (December 12, 2014)

New York Post - Hedgie gives WWE’s social media credentials a smackdown (December 9, 2014)

Benzinga - The WWE Network's Bumpy Road (December 1, 2014) 

Fansided - Vince McMahon, WWE Network Called Out By Law Firm (November 29, 2014)    New York Post - WWE stock in sleeper hold as subscriptions stall (November 27, 2014)

Benzinga - Hedge Fund Guru Emmanuel Lemelson Just Revealed How He's Trading Apple (And 3 Other Stocks) (November 19, 2014)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show (November 18, 2014)

Benzinga - Lemelson Capital Management CIO Discusses Ligand Pharmaceuticals Prior To Company Issuing Weak Guidance (November 18, 2014)

Benzinga - Hedge Fund Guru Emmanuel Lemelson Explains How To Balance Investments And Morality In Ferguson, MO (November 5, 2014)

Inquisitr - WWE News: Wall Street Executive Believes Vince McMahon Wants To Sell WWE (October 30, 2014)

Benzinga - Why WWE Network Subscriptions Might Not Be A Big Deal (October 29, 2014)

Metrowest Daily News - Lemelson invests 2 percent stake in Geospace  (October 25, 2014)

Benzinga - Lemelson Capital Management Announces Stake In Geospace Technologies (October 21, 2014)

ValueWalk - Lemelson Announces 2% Stake in Geospace Technologies Corp (October 20, 2014) 

Benzinga - Shares of Geospace Technologies Close 4.5% Higher, Indicated for Further Gains in Post-Market Session Following Earlier Mid-Day News Lemelson Capital Has Announced 2% Stake  (October 20, 2014)

SA Market Currents - Geospace +4.2% after activist discloses stake; Ion +5.9% (October 20, 2014)

The Fly on the Wall - Lemelson Capital reports 2% stake in Geospace (October 20, 2014) 

Benzinga - Why Lemelson Capital Is Short On Ligand Pharmaceuticals(October 16, 2014)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show(October 16, 2014)

MetroWest Daily News -  Amvona Fund garners top-performing status (October 7, 2014)

ValueWalk - Lemelson’s Amvona Fund Tops BarclayHedge Performance List (October 2, 2014)

HFMWeek - Who Wants To Be An SEC Target (September 24, 2014)

Benzinga - Rev. Emmanuel Lemelson Says Apple Shares Still Have His Blessing at $100 (September 16, 2014)

Benzinga - Rev. Emmanuel Lemelson CIO Lemelson Capital - PreMarket Prep Show(September 16, 2014)

Benzinga - Lemelson Takes Down WWE And Brings It Back Up (September 11, 2014)

ValueWalk - Lemelson Capital Up 60% In Past 12 Months (September 5, 2014)

MetroWest Daily News - Lemelson commends Kulicke and Soffa on repurchase(August 29, 2014)

SA Market Currents - Kulicke & Soffa heeds activist's call, launches buyback (August 27, 2014)

MetroWest Daily News - Lemelson: Ligand's largest shareholder dumps stock (August 26, 2014)

The Fly on The Wall - Lemelson says Ligand has 'lost favor with largest investors'  (August 25th, 2014)

ValueWalk - Ligand Pharmaceuticals Inc. (LGND) Largest Owner Sells Shares  (August 22nd, 2014)

Hedge Fund Alert - High-Flying Fund May Bar Entry (August 20th, 2014)

BioWorld - With new deal, upbeat outlook, Ligand ignores 'bankruptcy' short cry (August 15, 2014)

Benzinga - Rev. Emmanuel Lemelson of Lemelson Capital Management - PreMarket Prep Show(August 13th, 2014)

Hedge Fund Alert - Much Confusion Surrounds JOBS Act Filings (August 13th, 2014)   Benzinga - Exclusive: Emmanuel Lemelson Talks Ligand Pharmaceuticals (August 8th, 2014)

ValueWalk - Lemelson Increases Ligand Pharmaceuticals Inc. (LGND) Short  (August 4th, 2014)

Benzinga - Ligand Pharmaceuticals Reports Earnings; Lemelson Capital Adds To Short Position (August 4th, 2014)   Daily Reckoning - How a Priest Could Wrestle Profits from the WWE (July 18th, 2014)

MetroWest Daily News - Lemelson reports strong performance of Amvona Fund (July 18, 2014)

ValueWalk - Despite Rough January, Lemelson Capital Up 20% YTD  (July 17th, 2014)   ValueWalk - Lemeson Ups Ligand Pharmaceuticals Inc. (LGND) Short  (July 3rd, 2014)

ValueWalk - Ligand Pharmaceuticals (LGND): Lemelson Reaffirms 0 PT (June 24th, 2014)

Benzinga - Rev. Emmanuel Lemelson of Lemelson Capital Management - PreMarket Prep Show (June 19th, 2014)

Benzinga -Shares Of Ligand Follow Parabolic Curve Amid Responses Surrounding Promacta's Phase III Trial(June 17th, 2014)   USA Today - Money manager betting against biotech firm Ligand Pharmaceuticals (June 16th, 2014) 

Street Insider - Lemelson Capital Makes Short Case Against Ligand Pharma (LGND) (June 16th, 2014)

SA Market Currents - Bearish outlook for Ligand from Lemelson Capital (June 16th, 2014)

ValueWalk - Lemelson: Ligand Pharmaceuticals (LGND) – ‘No Intrinsic Value’ (June 16th, 2014)

Benzinga - Shares of Ligand Pharma Tick Lower Following Word from Lemelson Capital Fund Has Initiated Short Position in Stock (June 16th, 2014)   MetroWest Daily News - Rev. Fr. Emmanuel Lemelson (June 16th, 2014)

The Motley Fool - Should the McMahons Still be Running WWE?  (June 7th, 2014)

ValueWalk - The Amvona Fund Up 22% In May After 17% Gain In April  (June 5th, 2014)

SA Market Currents -  Kulicke & Soffa higher on bullish B. Riley note (June 4th, 2014)

SeekingAlpha - World Wrestling Entertainment: Why Investors Should Stay Away  (June 3rd, 2014)

Columbia Consulting Group - Investment Firm Requests Executive Shakeup at WWE  (June 2nd, 2014)

MetroWest Daily News - Barron's again honors Lemelson Capital (May 29, 2014)

HFG - Barron’s Ranks the World’s Top Performing Hedge Funds for April 2014 (May 28th, 2014)

Evestment - Barron's Names Lemelson Fund as April's Top HF (May 28th, 2014)

HedgeCo.Net - Lemelson Capital Management Again Ranks Among World’s Top Performing Hedge Funds (May 28th, 2014)

SeekingAlpha - World Wrestling Entertainment Inc: Yum, I Love Eating Crow (WWE) (May 28th, 2014)

ValueWalk - Lemelson Capital Ranks Among Top HFs With 17% Gain In April (May 27th, 2014)

RantSports - WWE Fans Should Get To Know Rev. Fr. Emmanuel Lemelson (May 21st, 2014)   Inquisitr - WWE News: Vince McMahon Loses $350 Million In One Day, Could Be Forced Out As CEO  (May 20th, 2014)

The Motley Fool - Will the WWE Network Ever Make Money?  (May 20th, 2014)

SNL Kagan:WWE/NBC rights deal: The red wedding(May 19th, 2014)

Bleacher Report - Biggest Takeaways from WWE's May 19 Business Outlook Investor Call (May 19th, 2014)    Yahoo.Tv - Is Vince McMahon Still the Right Man to Lead WWE? (May 19th, 2014)

Givemesport - Vince McMahon to be removed from the WWE? (May 19th, 2014)

The Post and Courier - Best and worst of times for WWE champion Daniel Bryan (May 18th, 2014)

Sports Illustrated (Fansided) - WWE stands to lose $45-$52 million in 2014; Investors to question Vince McMahon health on Monday?  (May 18th, 2014)

Inquisitr - WWE News: Investment Firm Buys Stake In WWE, Calls For A Replacement To Executive Management Team  (May 18th, 2014)

SA Market Currents -  WWE's stock smackdown is a blow to Vince McMahon's credibility (May 17th, 2014)

The Fly on the Wall - Lemelson Capital now long WWE (May 16, 2014

SA Market Currents -  Kulicke & Soffa soars on strong FQ3 guidance (April 29th, 2014)

USA Today - Kulicke & Soffa shares surge after investor urges buyback (April 22nd, 2014)

SA Market Currents -  Kulicke & Soffa jumps; activist discloses stake, calls for buyback (April 22nd, 2014)   SNL Kagan - Part 2: WWE's fall from grace (April 16th, 2014)    SNL Kagan - Part 1: WWE Network profitable or on the ropes? (April 15th, 2014)

The Street - Why World Wrestling Entertainment (WWE) Stock Finished Down Today (April 11th, 2014)

USA Today - World Wrestling pummeled four out of five rounds this week (April 11th, 2014)

Market Currents - SeekingAlpha -  WWE can't pull out of a slide (April 11th, 2014)

ValueWalk - Amvona Short Call Sends WWE Tumbling (April 7th, 2014)

Benzinga - WWE Has Monster Run, But Could It Soon Be Slammed? (April 4th, 2014)

"Editors' Pick" - Gurufocus - "The Short Case for World Wrestling Entertainment" (March 17th, 2014)

SA Market Currents - SA author Amvona ranks first among hedge funds, again (Nov 25th, 2013)

"Editors' Pick" - Gurufocus - "Apple's Crime and Punishment" (March 14th, 2013)

Lighting Rumours - Photoflex pays $100k damages to settle Amvona defamation case (Feb 27th, 2013)

Digital Journal - Amvona blog to donate $100,000 to charity from defamation lawsuit (Feb 26, 2013)

 "Editors' Pick" - Gurufocus - "Is Western Digital an Ideal Acquisition Target?" (Oct 31st, 2012)

Do You Have a MERS Mortgage? [p. 99] (Richie Collins, Oct. 11th, 2012, Createspace Publishing)

The Commonwealth of Massachusetts - Registry of Deeds "Henrietta Eaton and the Boston Foreclosure Party" (June 26th, 2012)

Neil Garfield LivingLies Weblog "Mass Supremes Declare Note and Mortgage Must Be Owned by Same Party" (June 25th, 2012)

4closurefraud "Henrietta Eaton and the Boston Foreclosure Party" (June 24th, 2012)

Stopforeclosurefraud "Henrietta Eaton and the Boston Foreclosure Party" (June 22nd, 2012)

"Editor's Pick" - SeekingAlpha - "On the value of Users, Hard Drives and Batteries" (June 13th, 2012)

"Editors' Pick" - Gurufocus - "On the value of Users, Hard Drives and Batteries" (June 13th, 2012)

Neil Garfield LivingLies Weblog "OWNERSHIP IN QUESTION: Is it ethical to pay your mortgage?" (February 23rd,2012)

Neil Garfield LivingLies Weblog "REQUIRED READING: WHETHER THE MORTGAGE IS PERFECTED" (October 27th, 2011)

"Editor's Pick" - SeekingAlpha - "Implications Of The Bevilacqua Ruling" (October 25th, 2011)

Mike Bevel - InsideArm.com Massachusetts Set to Overrule Past Foreclosures; Harbinger for ARM Industry? (October 25th, 2011)

Ethan A. Huff - NaturalNews "Supreme Court rules that thousands of home foreclosures are invalid because banks do not have promissory notes" - Mistakenly attributed to Dailybail.com (October 25th, 2011)

Mortgage Fraud Investigations - Miami Houston, we’ve got a problem – Bevilacqua (October 24th, 2011)

COTO Report Massachusetts Supreme Court Voids Most Foreclosure Sales from Past 5 Years (October 23rd, 2011)

Neil Garfield LivingLies Weblog - "Best Post of the Week: Houston, We’ve Got A Problem – Bevilacqua" (October 22nd, 2011)

Tyler Durden Zerohedge Amvona article featured on Zerohedge (October 22nd, 2011)

BlackListedNewsBOMBSHELL - Massachusetts Supreme Court Rules That Most Foreclosure Sales From Previous 5 Years Are VOID (October 22nd, 2011)

Social Apocalypse I Clarify How Catastrophic This Is: Houston, We’ve Got A Problem (October 22nd, 2011)

The Commonwealth of Massachusetts - Registry of Deeds "Houston, we've got a problem - Bevilacqua" (October 21st, 2011)

SA Market Currents - SeekingAlpha US Economy "Greg Lemelson makes the case that a little-noticed Massachusetts Supreme Court decision this week basically made all foreclosure sales in MA over the past 5 years "wholly void"... (October 20th, 2011, 6:01 p.m.)

4closurefraud GREGORY M. LEMELSON | HOUSTON, WE’VE GOT A PROBLEM – BEVILACQUA (October 20th, 2011)

DailyBail Dailybail.com"BOMBSHELL - Massachusetts Supreme Court Rules That Most Foreclosure Sales From Previous 5 Years Are VOID" (October 20th, 2011)

Stopforeclosurefraud Guest Post: Houston, we've got a problem - Bevilacqua (October 19th, 2011)

Lane A. Houk - War on the Home Front Dividing the Mortgage Loan and Affirming the Consequent (October 13th, 2011)

Stopforeclosurefraud Guest Post: Eaton – Dividing the Mortgage Loan and Affirming the Consequent (October 11th, 2011)

Matt Weidner Law Do The Cops Who Are Violently Attacking Peaceful Protestors Understand The Fraud OCCUPY Is Protesting? (October 11th, 2011)

4closurefraud EATON – DIVIDING THE MORTGAGE LOAN AND AFFIRMING THE CONSEQUENT (October 11th, 2011)

"Editors' Pick" - Gurufocus "Update: - “640K ought to be enough for anybody…” WDC vs. STX" (Aug 12th, 2011)

ForeclosureGate Gazette On the ethics of mortgage loan default (June 6th, 2011)

Mark Stopa - Stayinmyhome.com Fear, Shame, and Guilt? Or Reason? (June 5th, 2011)

Tyler Durden - ZerohedgeGuest Post: On The Ethics Of Mortgage Loan Default (June 4th, 2011)

4closurefraud GREGORY M. LEMELSON ON THE ETHICS OF MORTGAGE LOAN DEFAULT (June 3rd, 2011)

"Editors' Pick" - Gurufocus - "Lions and Tigers and Cisco Bears! Oh My!" (May 28th, 2011)

Martin Andelman - Mandelman Matters Mass Hysteria – The Iabanez Decision by the Massachusetts Supreme Court (January, 2011)

4closurefraud GUEST POST | IBANEZ – DENYING THE ANTECEDENT, SUPPRESSING THE EVIDENCE AND ONE BIG FAT RED HERRING (January 12th, 2011)

Tyler Durden - Zerohedge Guest Post: Ibanez – Denying The Antecedent, Suppressing The Evidence And One Big Fat Red Herring (January 12th, 2011)

ForeclosureHamlet EVERYONE NEEDS TO READ THIS OPINION IMMEDIATELY... (January 12th, 2011)

4closurefraud TATTOOS, PYRAMID SCHEMES AND SOCIAL JUSTICE (November 17th, 2010)

Photography, E-commerce and Technology Related References

Related Patents

METHODS, SYSTEMS AND APPARATUS FOR DISPLAYING USER GENERATED TRACKING INFORMATION United States 11/750,321 Filed May 17th, 2007

SOCIAL NETWORKING AND E-COMMERCE INTEGRATION United States 11/674,516 Filed February 13th, 2007

INTEGRATED LIGHT HEAD APPARATUS AND METHODS OF USE THEREOF United States 11/564,108 Issued November 28th, 2006

METHOD AND APPARATUS FOR GENERATING WEB CONTENT United States 11/198,841 Issued August 5th, 2005

Epilogue

Amvona was started in 1999 by American entrepreneur and investor Fr. Emmanuel Lemelson as a graduate student. The site was originally built as hybrid e-commerce and social networking platform to sell photo accessories which were also developed by the company. Between inception in late 1999 and the end of operations in early 2010, the company shipped over 1 million photo accessories to approximately 300,000 customers worldwide, receiving ~200,000 positive comments along the way.

The Compound Annual Growth Rate between 1999 and 2006 was ~120%.

According to Google Analytics, the original Amvona photo-related site received approximately 750,000 unique visitors per month at its peak and is referenced in numerous books and manuals as a primary source for photo equipment.  By 2005 Alexa ranked Amvona.com amongst the 10 ten most visited online photo retailers.

In the Fall of 2009 Amvona added a blog to its eCommerce platform and by April 2010 discontinued its e-commerce operations in order to focus exclusively on the blog. 

More History

AT-3052 300x400 In 1999 Amvona reluctantly launched its site to sell its "homespun" photo equipment wrapped up in a social context (before the word “social networking” meant anything to anyone other than 1950’s era sociologists). We also created an integrated and "open" community for our users to share their images.  Given the fact that some folks still thought the Internet was a passing fad, (particularly in the wake of the bursting .com bubble) "open" was hardly cool.   It is difficult to believe in retrospect, but back then, photo sharing not to mention digital cameras were almost unheard of, and they were certainly not linked to any sort of online commerce. Putting it together in 1999 took a bit of an intellectual stretch and a streak of imagination.

Long before social meta-data was commonplace or even understood, its derivatives such as user profiles, product reviews, EXIF data, and online tracking, were already being employed by Amvona to sell products. Through the use of proprietary technology, this fluid, constantly updated, and real-time user-centric content was being regenerated and wrapped around products across multiple online platforms.  This allowed Amvona to seamlessly launch products into a vast network of potential customers; when a  purchase was made, the Amvona member became part of an unbroken and automated feedback loop across these multiple platforms, thus sales begot more sales, and revenue grew exponentially.  In fact, sales grew at a far greater calculus than the products could be manufactured and restocked especially given the entirely self-financed nature of the operation through its early years.  User content that was generated on one platform could automatically be regenerated and shared in real-time across multiple other platforms.  This technology and the approach resulted in Amvona being cited in several prominent publications on Internet marketing (although few knew about or understood the tools we had developed to produce these results).

See also:  Amvona Launches Site-Specific Search for Photographers

However, our story was not only about delivering products in a more meaningful fashion it was also about trying to shatter a boutique industry that sometimes functioned more like an "exclusive club", and bordered on anti-competitive practices that were ultimately unfriendly to the consumer.  We felt that in addition to being unethical, it was also incongruent with the advent of increasingly low-cost digital cameras which would ultimately re-energize the industry and make photography accessible to millions more.  This meant competing on price, which strange as it may seem, few others appeared to be thinking of given the incestuous DNA of the industry.  Despite meeting the pricing objective Amvona maintained operating margins which we believe were at the very top of the industry.

In order to achieve this, in 2000 (believing that China could ultimately manufacturer high tech products that were at least "as good" as European manufacturers) we moved our manufacturing base to China (at the time understood as the destination du jour for shoes and T-shirts, but not photo equipment).  In those "stone ages" of the Internet, many thought "made in China" was a four-letter word when it came to photo equipment. However, because the competition actually understood the potential implications of this part of what we were doing (unlike our technology), this move created an interesting backlash.  Nonetheless, when you undercut your competition by 70%, they tend to not only notice, but follow.  It is safe to say that not long afterward, the "Amvona business model" was downloaded more than once, and all feelings about Chinese manufacturing were put aside.   By 2006 most major photo retailers had some form of the "Amvona model", many also copying Amvona product designs along the way.

But if we had a passion, it was for creating innovative web technology and products that incorporated significant invention in their design.  We are amazed to find the concepts we developed back in those days (which many called crazy) in wide use across a spectrum of sites today.  This, of course, was not as easy to replicate, because of the transient nature of real technology, and the necessity of seeing trends long before they occurred in an environment where life-cycles were increasing in frequency.  

Rarely does a day go by that we don't hear from former customers complaining that we no longer sell photo equipment.  We did not realize just how many people we had reached with our value proposition, or how important the brand had become for so many.  It is fulfilling to know that we had a positive effect in some way on so many people and that our products are still be used by photographers all over the world.