Lee Miles Email and Phone Number

Portfolio Manager for ALM Capital. Buy-side ALM Capital had first year portfolio outperformance of ~2,460bps with contributors AXL, BIREF, BX, CGC, DDAIF, F, GM, GNW, GPI, KLIC, LAD, MERC, MU, SIG & VNTR.

Equity analyst for leading performance-focused provider of independent fundamental equity research with special focus on sell/short equity recommendations and unmatched track record of nearly 80% of recs profitable. Generalist role with most time spent generating and developing long ideas and a minority on short ideas.Outstanding alpha generation from long stock recommendations published. All of my recommendations outperformed benchmark when closed, including BX buy recommendation with 46% total return over 13 months including dividends, outperforming S&P500 index by 1,580bps; GPI buy recommendation with 28% return over two months, outperforming R2000 index by 2,150bps; and CIT buy recommendation with 19% return over nine months, outperforming R2000 index by 560bps.Primarily value-oriented long recommendations outperformed value indices even more than general indices.

Worked with former teammates from Knight to launch and manage Baird Kailash sell-side equity research business. Leveraged sophisticated Kailash quantitative screening tools and databases to select long and short stock picks and author white papers and other publications to drive investment outperformance for clients.Outstanding alpha generation from short stock picks in published “Unattractive Insight” stock notes. First thirteen short stock picks (which had at least six months to perform) had 77% hit rate of stocks underperforming the benchmark with an average underperformance of 2,830bps. These picks included PSG -83%, DDD -70%, ECR -64%, PAH -64%, FEYE -55%, BKD -48% and GLNG -45%. Including more recent unattractive stock picks (less than six months to perform), overall short picks had 64% hit rate of stocks underperforming with an average underperformance of 710bps. Other notable short stock picks included CONN -35%, SIG -24%, SRCL -17%, CY -14%, APC -14% and EPAM -10%.“Attractive Insight” stock picks included HA +55%, URBN +30%, SANM +16%, ORCL +9%, QCOM +8%.Wrote/edited ~30 quantitative and fundamental white papers and market commentary notes. Topics included sector attractiveness, valuation, risk management, capital structure, earnings quality, dividend yield and stock repurchases. Expressed pessimism on Biotech sector in 10/15, and Biotech NBI index underperformed R2500 Index by 1,760bps and R1000 Index by 2,110bps since publication. Dec. 2013 IT paper long - short stock picks had return spread of +1,600bps in subsequent six months after publication.Created and launched new products including “Friday Thoughts” notes to show clients attractive or unattractive stock lists and demonstrate use of Kailash Ranking Tools.

Launched and managed new performance-oriented long-only sell-side equity research business for Knight, leveraging sophisticated screening tools to prioritize fundamental research efforts.Led all aspects of business including product design (in-depth initiation reports and Trading Edge notes), infrastructure implementation, marketing and hiring/managing team of 15 analysts.Demonstrated strong investment performance by writing 47 published initiation report buy recommendations that outperformed benchmark by avg. of +1,170bps (cap weighted) and +572bps (equal weighted) per year.* Buy recommendations included: STX +189%, TSO +147%, STZ +99%, HRB +97%, EXPE +79%, ANN +66%, EA +64%, CAR +59%, HFC +50%, EFII +49%, LRCX +43%, ASCA +39% and PLCE +38%.Oversaw and edited 16 additional buy rec. reports including ROVI +90%, CBI +79%, VSH +62% and SFD +47%. Department recs. outperformed benchmark by +952bps (cap wt) and +641bps (equal wt).*Meaningful positive correlation between upside to price target and actual stock appreciation realized. * Performance is through 12 months after initiation (when recommendation expired) or through 6/3/13 for unexpired recommendations.

Equity analyst for one of America’s largest mutual fund companies with well over $1 trillion in assets and automotive sector mutual fund portfolio manager with $10m-$80m in assetsOutstanding stock selection within sector as demonstrated by significant investment outperformance achieved managing Select Automotive Fund with investors having 23% more money after fees than if in public benchmark (MSCI US AutosSignificant alpha generation for diversified domestic Fidelity funds through automotive stock recommendations with 55%-75% success hit rateModel portfolio (including short positions) had 14% more money than benchmarkResearched industrials subsectors including trucks, agricultural equipment, construction equipment, batteries, HVAC and motorcycleRecommended stock selection using detailed fundamentals-based financial modeling and valuation analysis Role expanded from initially making recommendations only to domestic portfolio managers (PMs) but later included recommending automotive stocks to international PMs as wellAccurately predicted outcome of key auto industry events, including: Detroit Automakers' 2007 union contract negotiations, government bailouts in late 2008 and significant financial distress of GM & ChryslerMentored junior auto supplier analysts and worked closely with fixed income and London/Tokyo auto analystsHighest teamwork rating for helping other analysts whose sectors were impacted by auto industry

Research coverage of global automotive manufacturers for large value equity manager with $230B in assetsPromoted to Vice President from Associate after one yearCo-managed analyst global consumer cyclicals portfolio with automotive outperformance of 1,935bps in 2005 and 894bps in 2004 which reflected my broader analyst stock recommendationsPresented research and recommendations to multiple portfolio managers with total of ~$5B auto exposureCorrectly predicted in 2005 that US housing bubble would burst and devastate GMAC's mortgage operationsInitial responsibilities focused on Emerging Markets autos with 80% of buy recommendations rising over 250%, greatly outperforming country indices (including Hyundai Motor, Hyundai Mobis, Astra, Ford Otosan)Analyzed US auto market in fall of 2004 and correctly forecasted significant future GM share loss Recommended both long & short positions for hedge fund products

Analyzed and solved critical business problems at leading strategy and management consulting firm Rated top tri-state Associate in 2000 (out of ~200 NY, NJ and CT associates)Promoted to Engagement Manager from Associate after two yearsDeveloped financial model for telecom start-up for valuation analysis, capital raising, and budgeting. Presented to several potential equity investorsConducted due diligence on potential telecom equity investments for bank and utilityRecommended pricing actions to boost margins by 400bps for major semiconductor manufacturerEvaluated opportunity and developed strategy for cable TV provider to offer hotel entertainment & internet servicesPerformed primary research, segmented market and developed strategy for local phone company. Developed targeting tool to decrease customer acquisition costs by 30%Pro bono work for children's museum to optimize pricing and membership services

Summer internship at mergers and acquisitions investment banking firm later acquired by Deutsche BankModeled DCF valuation and accretion/dilution for a few merger scenarios for commercial real estate companyValued metal fabricators using transaction & market comparables and DCFWrote presentation about issuing tracking stock to increase valuation