Manager Project

Raymond K. Haddad

** ******** ****, ********, ************* 02025

781-***-**** [H] 781-***-**** [C] ********@*****.***

Summary

Experienced Portfolio Manager with track record of outperformance managing

US-centric assets and turning around long term performance numbers of open

end mutual funds. Demonstrated ability to design and implement a

disciplined investment process, utilizing fundamental, quantitative and

technical analysis techniques. Developed a thorough understanding of

multiple business models, sub-industry structure and cycles, and various

stock valuation methodologies with an emphasis on ROIC and economic profit

growth. Adept at working collaboratively within a team of portfolio

managers, research analysts, and traders. Extensive exposure to client

meetings and presentations.

Experience

CEDRUS CAPITAL MANAGEMENT, LLC, Boston, MA July

2011-Present

Founder & Principal

Managing a US-equities long/short hedge fund that is market cap and sector

agnostic. Cedrus employs a bottom-up fundamental research to investing

augmented with ROIC-based and technical screens.

. Cumulative July 1st, 2011 - December 31st, 2013: +20.38% vs. HF

Intelligence Equity L/S Index: +16.10%

PUTNAM INVESTMENTS, LLC, Boston, MA 2000-

2010

Managing Director, Lead Portfolio Manager (2007-2010)

Repositioned the Putnam Midcap growth fund from a bottom quartile,

quantitatively-driven fund to a fundamentally-driven, second quartile fund

in just over two years.

Lead Portfolio Manager, $1.2B Vista Midcap Growth Fund (2009-

2010)

. Improved overall investment performance by significantly

redesigning the investment process to include multi-factor

fundamental, quantitative and technical analysis-driven alphas.

. Conducted due diligence across all sectors on company management,

company & industry positioning, in conjunction with financial

modeling triangulating DCF, ROIC-based and traditional multiples-

based valuation.

. Implemented the methodology of ROIC, ROIC-WACC spread and economic

profit growth as a primary determinant of appropriate Invested

Capital (IC) multiples-based valuations as compared to current IC

multiples reflected in current stock prices.

. Managed a small team of analysts (4), guiding them thru the process

mentioned above.

. Used quantitative and technical analysis as an idea generating tool

from all sectors and as a risk management tool, assisting in

position sizing, entry and exit points.

. This strategy placed the fund at a Lipper ranking of 36 of all

Midcap Growth Managers of which the trailing 12 months performance

places the fund at a top decile Lipper ranking of four.

Co-Lead Manager, Vista Midcap Growth Fund (2008)

. Represented the fundamental side of a quantitative-fundamental

process that was adopted throughout the firm.

. Back-tested and introduced the methodology of ROIC and economic

profit growth as a valuation tool.

. Enhanced forecasts, stock recommendations, and investment theses of

research analysts by consistently engaging them in a dialogue about

industry trends, projections, and stock valuations.

. Performed in line with the Russell Midcap growth index.

Lead Portfolio Manager (2004-2007)

Repositioned the Putnam Smid-cap "OTC" growth fund from a bottom decile,

aggressive growth fund to a second quartile, high quality, growth at a

reasonable price growth fund in three years. Fund was later merged into

the Vista midcap growth fund.

Lead Portfolio Manager, $400M OTC Smid-cap Growth Fund

. Improved investment performance by adding rigor to valuation work,

reducing sector bets, and diversifying away from a predominantly

technology focus.

. Outperformed the Russell 2500G benchmark every year over the three-

year period on the fund. Cumulatively, the fund outperformed the

benchmark by a total of 601bps leading to second quartile Lipper

ranking.

Consumer Sector Portfolio Manager (2003-2004)

Consumer Sector Portfolio Manager, $1B smid-cap core "Capital

Opportunities Fund"

. Acted on knowledge of the consumer sector by taking positions in

consumer stocks.

. Honed skills as a portfolio manager by learning and adapting

portfolio construction, risk control measures, position sizing, and

inter-subsector correlations.

. Outperformed the Russell 2500 benchmark by 1,011bps over the 17

month period.

Consumer Analyst (2000-2004)

. Demonstrated a well-organized, sensible, and systematic research

approach.

. Focused on various parts of the consumer sector with an emphasis on

the retail and media sector for three growth funds, totaling $10B

AUM, specializing in small to mid-cap growth investing.

. Applied ROIC-centric modeling to determine fair value on covered

stocks for all R2500G consumer stocks.

. Read and interpreted financial statements, built financial models,

and wrote and presented investment recommendations to various

portfolio managers.

SANFORD C. BERNSTEIN & CO., New York, NY 1999-2000

Equity Research Associate, Sell Side

. Hired by Tom Wolzien, Head of Media & Entertainment, co-founder of

MSNBC.

. Broadened previous coverage of broadcasting equities to include

Internet/new media, large capitalization entertainment, and cable

operating companies.

. Authored and published a comprehensive report, discussing cash-on-

cash valuation metric for media stocks and formed a methodology of

quantifying expectations with a superior predictive power versus

conventional valuation metrics.

SCHRODER & CO., New York, NY 1997-1999

Equity Research Associate, Sell side

. Co-initiated coverage of TV, radio broadcasting, cable programming

equities, co-authored extensive reports, and performed various

background work on the sectors.

GABELLI & CO., Rye, NY 1996-1997

Research Analyst

. Hired by Mario Gabelli to work on a part-time basis while attending

business school.

. Initiated coverage of the manufactured housing industry and issued

research reports.

WASHINGTON GAS LIGHT COMPANY, Washington, DC 1986-1995

Project Manager

. Managed the first ever U-Liner gas project in the United States, a

new trenchless pipeline installation technology, leading to 21%

saving in total costs.

Education

Master of Business Administration, Finance, Columbia University, New York,

NY, 1997

Master of Science, Mechanical Engineering, The George Washington

University, Washington, DC, 1986

Bachelor of Science, Mechanical Engineering, Widener University, Chester,

PA, 1985

Professional Development

Chartered Market Technician (CMT)

Contact this candidate