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January 16, 2014 AT 3:59 PM
Despite being left out of this year's Oscar nominations, Robert Redford was all smiles at a press conference Thursday morning at the Sundance Film Festival. The Hollywood veteran was considered a frontrunner in the Best Actor category for his role in "All is Lost." During the conference, Redford weighed in on why he and the film were excluded from the Oscars race. "Let me speak frankly about how I feel about it.