Fischer Financial Services, Inc.

Our research process involves both quantitative and qualitative approaches. We begin by reducing the universe of potential investment candidates through quantitative screening. Next, we use an equal balance of quantitative and qualitative analysis to arrive at a focus list of approximately 20 stocks. On the sell side, qualitative analysis is more common for final sell decisions, but quantitative issues are not ignored.

The following is a list of tools used in this process:

Company	Product	Description
Zacks	Screen 2.1	A comprehensive database of equities with advanced screening capabilities
	DBM Power	Creation of custom databases for screening or back testing
	Portfolio Analytics	A tool for summarizing portfolio characteristics and performance attributes
	Research Edge	Consolidates major research analysts' reports and makes them available to subscribers
Morningstar	Principia	Database of mutual funds, equities and separate account managers with screening and presentation capabilities



	Investment Philosophy
	Investment Approach
	Investment Process
	Sell Discipline
	Risk Management

Fischer Financial Services, Inc. • 4431 North Front Street, Suite 105 • Harrisburg, PA 17110
Tele (717) 233-8901 • Fax (717) 233-3813 • Toll Free (888)886-1902
ffs@fischerfinancialservices.com