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Dear Clients and Friends,
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We hope that you are having a good summer!

I will be a guest tomorrow on CNBC's The Call tomorrow to discuss whether or not buybacks are good for shareholders. The discussion is set for 1120a ET and the anchors will be Melissa Francis and Larry Kudlow.

As always, Please call if you'd like to talk; we are here for you (310-459-9196). Thank you for your continuing confidence. If you are a former subscriber or client, feel free to call as well. You can be assured that we will continue to ply our craft and we will get through this period and all of us will prosper again.

Thanks for your continued support and trust.

Best Regards,

David Fried
Fried Asset Management, Inc.
*Audit available on request.  Returns include dividends and interest and are net of fees.  Past returns do not guarantee future performance.