JON M. FISHER, CFA

***** ****** ***** **** *******, MN 55347 – 952-***-**** - mobile 513-***-**** – ac72rs@r.postjobfree.com

SUMMARY

Equity Analyst with experience in long-only and long/short hedge fund environments. Provide written primary and differentiated research on companies within my coverage universe. Expertise in building proprietary and company specific financial and valuation models as a sector specialist within Industrials, Technology, Financials and Healthcare across all market capitalizations. Stock selection process focuses on a company’s ability to generate above average cash flow ROIC and earnings and identifying companies with sustainable, long-term superior competitive and financial business models trading at attractive valuations. Investment research process is a combination of bottoms-up valuation, financial modeling and quantitative screening on risk attributes to balance upside appreciation potential against downside risk.

WORK EXPERIENCE

Dougherty & Company, Minneapolis, MN (June 2016 – Present)

Equity Analyst Industrials and Industrial Technology Sectors

Generate written primary and differentiated research on individual companies within the Industrial and Industrial Technology sectors. Present my research and Buy/Sell recommendations to Portfolio Managers to help them in the portfolio construction process. Actively engage with Senior Executives to conduct bottoms-up fundamental research on company business plans, financial performance and management execution to identify sources of cash flow and earnings performance. In support of my fundamental research, build proprietary and company specific financial and valuation models for my companies based on historical performance, current financial assumptions and long-term forecasts. Seek to identify companies with long-term superior competitive and financial business models trading at attractive valuations.

Rail-Splitter Capital Management, Chicago, IL (March 2014 – May 2016)

Long/Short Equity Analyst Industrials, Financials and Business Services Sectors

Generate written primary and differentiated research on individual companies within the Industrials, Financials and Business Services sectors. Present my research and Long/Short recommendations to Portfolio Managers to help them in the portfolio construction process. Actively engage with Senior Executives to conduct bottoms-up fundamental research on company business plans, financial performance and management execution to identify sources of cash flow and earnings performance. In support of my fundamental research, build proprietary and company specific financial and valuation models for my companies based on historical performance, current financial assumptions and long-term forecasts. Work as part of a four-person investment team to construct a long/short portfolio that will generate positive alpha for the portfolios from both long and short investment positions balanced against risk management parameters. Assist in writing the quarterly client investment letter and participate in investment presentations with current clients. Assisted in growing firm assets over 30% in 2015. Generated positive outperformance in both my long and short decisions during 2014 and 2015. Generated positive alpha of 430bps in 2014 and 150bps in 2015.

Fifth Third Asset Management, Minneapolis, MN (January 2000 – October 2013)

Portfolio Manager Mid Cap Strategy (4/10 – 10/13)

Lead Portfolio Manager for the Mid Cap Growth Strategy. Responsible for overall strategy and asset allocation/risk management decisions; all investment decisions in the portfolio, the underlying investment research and financial analysis involved in investment decisions and client investment presentations and communications. Delivered outperformance in 13 of the 14 quarters since taking over lead management responsibilities and outperformed by over 800bps in 2010, over 600bps in 2011, 40bps in 2012 and over 600bps YTD 2013.

Equity Analyst Large Cap and All Cap Strategies (1/05 – 4/10)

Analyst for each strategy working as part of a three-person team generating written primary and differentiated research on companies in the Industrial, Technology and Financial sectors. Responsible for conducting bottoms-up financial analysis to construct proprietary and company specific financial and valuation models that drove buy/sell investment recommendations for the strategies. Actively engaged with Senior Executives as part of my fundamental research process. Utilized my investment research and valuation models to make buy/sell recommendations to the Lead Portfolio Manager of the strategies. Conducted financial analysis to identify companies with above average cash flow and earnings power and superior long-term competitive positioning trading at attractive valuations to support the investment decisions for the strategies. Assisted in writing the quarterly client investment letter. Participated in investment presentations with current clients and new business presentations with prospective clients. Participated in new business development that increased the team’s assets from approximately $50 million in 2005 to $1.2 billion in 2010.

Equity Analyst Small Cap and Mid Cap Strategies (9/02 – 12/04) and Fifth Third Bank Technology Fund (5/02 –1/03)

Analyst for each strategy working as part of a three-person team generating written primary and differentiated research on companies in the Industrial, Technology and Financial sectors. Responsible for conducting bottoms-up financial analysis to construct proprietary and company specific financial and valuation models that drove buy/sell investment recommendations for the strategies. Actively engaged with Senior Executives as part of my fundamental research process. Utilized my investment research and valuation models to make buy/sell recommendations to the Lead Portfolio Manager of the strategies. Conducted financial analysis to identify companies with above average cash flow and earnings power and superior long-term competitive positioning trading at attractive valuations to support the investment decisions for the strategies. Assisted in writing the quarterly client investment letter. Participated in investment presentations with current clients and new business presentations with prospective clients.

Director of Equity Research for Fifth Third Bank (1/01 – 12/02)

Responsible for implementing Fifth Third Bank’s Investment Philosophy. Member of the Investment Strategy Committee that developed Fifth Third’s Asset Allocation and Equity Sector Allocation decisions. Worked with six analysts to develop and implement our stock analysis, valuation and selection disciplines and risk management criteria. Represented the Research Team in client and prospect meetings and in the media to discuss capital markets, equity recommendations and new investment ideas.

Healthcare Equity Analyst, Fifth Third Bank (1/00 – 9/02)

Generate written primary and differentiated research on individual companies within the Healthcare sector. Present my research and Buy/Sell recommendations to Portfolio Managers to help them in the portfolio construction process. Built financial and DCF models on prospective investments, based upon management meetings and fundamental analysis. Expanded the healthcare sector coverage during my first year by initiating coverage of the Services, Biotechnology and Specialty Pharmaceutical Sectors. Created new products around the healthcare sector by developing and marketing a Healthcare UIT. Increased the profile of the Fifth Third Equity Research capabilities through numerous client presentations and media comments about the healthcare sector. Consistently outperformed: Healthcare Pick of The Year outperformed the S&P 500 in both 2001 and 2002, and Buy/Sell recommendations outperformed Healthcare sector benchmark in 2000, 2001 and 2002.

EDUCATION

University of Iowa, Iowa City, Iowa

B.B.A. in Finance with a Minor in Economics

University of Chicago, Chicago, Illinois

MBA with concentrations in Finance, Strategy and Accounting

Dean’s List 2003 and 2004

Earned the CFA designation in 1996

Passed FINRA Series 7, FINRA Series 86, FINRA Series 87 and FINRA Series 63 examinations

Consulting Projects: HNI Corp. – Chinese office furniture strategy; P&C Insurance Industry – Developing and marketing a risk hedging derivatives product; State of Ohio Business and Economic Development Dept. – Job future for Ohio

Media: CNBC, New York Times, IBD, BusinessWeek, Barron’s, Bloomberg Print and Television, Cincinnati Enquirer, Cincinnati Post, Cincinnati Business Courier, WCPO-TV in Cincinnati, Indianapolis Star, Chicago Sun Times, The Record (NJ), Australian Doctor

Presentations: Represented 5/3 Equity Research in a presentation to Calpers, Panel Member for The University of Dayton RISE Symposium, Panel Member discussing the expensing of stock options to executive clients of Deloitte & Touche

Foreign Language: Spanish

HONORS / ACTIVITIES

President for The Cincinnati Society of Financial Analysts

President of the Midwest Nominating Committee for our Midwest Region Representative to the President’s Council

Presenter at the University of Dayton RISE Symposium

Tutor and Grader for the CFA exam

Taught an Economics and an Investment course for Cincinnati AIB

Winner of Cincinnati investment contests

Participant in Cincinnati investment round-table discussions

Editor of PNC Bank’s client newsletter

Served on Finance Committee of University’s Student Government

State of Minnesota Swimming Official

Various charitable endeavors

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