Over the past five years it has been an honor and a privilege to provide investors with the highest level of timely and relevant research. While I am extremely proud of the work that my colleagues and I have done at FridsonVision LLC, the time has come for me to take a new direction in my professional life.

Our covenant with subscribers has been to keep you on the cutting edge of market analytics and portfolio strategy in the high yield and distressed debt asset classes. To keep faith with everyone who has made an ongoing commitment to us, I will continue producing content for both Distressed Debt InvestorTM and Leverage World® for the next 12 months, which covers the term of all outstanding subscriptions. After that date I will be devoting full time to my new activities.

Leverage World will continue publishing and accepting new subscriptions and renewals, under the auspices of Garman Research LLC. M. Christopher Garman, formerly head of High Yield Strategy at Merrill Lynch & Co., will assume the positions of editor and publisher. Garman Research can be reached at chris@garmanresearch.com.

Distressed Debt InvestorTM will continue publishing and accepting new subscriptions and renewals, under the auspices of our long-term partner, Gordian Group LLC. Gordian Group can be reached at GGDDI@GordianGroup.com. FridsonVision's sales representative, Paul Geishecker (paul@fridsonvision.com), will assist with any questions you may have about these arrangements.

I want most of all to thank you for the opportunity to serve you in an industry that is an endless source of excitement and personal growth for me.

All the best,


Martin Fridson









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