Any opinions expressed herein represent current opinions only and no representation is made with respect to the accuracy, completeness or timeliness of information, and Boyar Research assume no obligation to update or revise such information. You should not assume that any investment discussed herein will be profitable or that any investment decisions in the future will be profitable. Past performance does not guarantee future results. Investing in equities and fixed income involves risk, including the possible loss of principal. Certain information has been provided by and/or is based on third party sources and, although believed to be reliable, has not been independently verified and Boyar Research is not responsible for third-party errors. This information is not a recommendation, or an offer to sell, or a solicitation of any offer to buy, an interest in any security, including an interest in any investment vehicle managed or advised by affiliates of Boyar Research. Any information that may be considered advice concerning a federal tax issue is not intended to be used, and cannot be used, for the purposes of (i) avoiding penalties imposed under the United States Internal Revenue Code or (ii) promoting, marketing or recommending to another party any transaction or matter discussed herein. Employees of Boyar Research and its affiliates have security positions in the companies featured. Any testimonials in this document are referencing the activities of Boyar’s Intrinsic Value Research LLC only and are in no way testimonials for Boyar Asset Management Inc.. No direct or indirect compensation was provided for testimonials. The reports in this sample are for informational purposes only and the performance of the stocks selected may not be indicative of the performance of the entire Forgotten Forty. The performance of the stocks selected and the performance of the Forgotten Forty may in fact diverge materially. For a complete list of the Forgotten Forty published in December 2020, please email info@boyarvaluegroup.com.