Jay E. Fishman, FASA, FRICS is a Managing Director at Stout. Prior to joining Stout he was founder and Managing Director of Financial Research Associates. He has been actively engaged in the appraisal profession since 1974. He specializes in the valuations of business enterprises and their intangible assets. Mr. Fishman has co-authored several books, including the Guide to Business Valuations (with Shannon Pratt),Standards of Value (with Shannon Pratt and William Morrison), and The Business Valuation Benchbook (with William Morrison) He has also written numerous articles on business valuation and has been qualified as an expert witness and provided testimony in Federal court, Tax Court, and twelve state courts. He has taught courses on business valuation to the Internal Revenue Service, the National Judicial College, The Hong Kong Society of Accountants and on behalf of the World Bank in St. Petersburg, Russia.
He holds a bachelor’s and master’s degree from Temple University as well as an master’s in business administration from LaSalle University. Mr. Fishman is a Fellow of the American Society of Appraisers (FASA), a Fellow of the Royal Institution of Chartered Surveyors, a former Chairman and current member emeritus of the Business Valuation Committee of the American Society of Appraisers, former Editor of the Business Valuation Review, for many years was the Chair of ASA’s Government Relations Committee, a former Trustee of the Appraisal Foundation(TAF) and former member of the Appraisal Standards Board and the Appraisal Practice Board of TAF. He finished his term as a member on the Board of Trustees of the International Valuation Standards Council in November 2023.
In 2020, in full recognition of his outstanding services in the Society and contributions to the appraisal profession, the American Society of Appraisers gave him their Lifetime Achievement Award.