March 2022 Market Commentary

by | Mar 2, 2022 | Recent Commentary

  Even though the market rebound last week was coincident with the Russian invasion (possibly signaling the bad news was fully discounted), we don’t think the coast is clear, and more volatility may be with us in the short term. Investors have at least three...

February 2022 Mid-Month Recap

by | Feb 15, 2022 | Monthly Updates

The sharp drop in share prices last Friday was attributed to the expected invasion of Ukraine by Russia. Although that prospect is a disturbing geopolitical event, any U.S. stock market reaction is likely to be limited and short-lived.  The U.S. stock market typically...

February 2022 Market Commentary

by | Feb 1, 2022 | Recent Commentary

  We are almost halfway through earnings season.  Earnings announcements are always important but maybe more so this quarter due to investors’ eagerness to see how inflation, including wage growth, is affecting companies’ bottom lines and outlooks for 2022.    So...

January 2022 Mid-Month Recap

by | Jan 19, 2022 | Monthly Updates

The S&P 500 may be only 5% below its all-time high (the NASDAQ, 10%), but the average stock is doing much worse. For example, the average stock in the Russell 3000 (a broader index than the S&P 500 that includes mid and small caps) is down 27% from its high,...
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Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

Let us Help
3

Real Retirement Solutions

designed to improve
  • Wealth Preservation
  • Management of Risky Assets
  • Peace of Mind

This is achieved through an ongoing assessment of market risks given your specific financial situation and goals.

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Professional Expertise

Leadership Team

Richard Furmanski

Richard Furmanski

CFA

has been a portfolio manager and analyst for over 35 years. He manages conservative, tax-efficient portfolios for both pre-retirees and retirees. His lower risk approach appeals to investors who want less volatility and competitive risk-adjusted returns.

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Mary Ellen Adam

Mary Ellen Adam

Director of Operations

has been in office administration for over twenty years. Her experience includes customer service, firm operations, and office administration. She interacts with our clients on a day-to-day basis and handles any requests that may arise.

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Frequently Asked Questions

If you can't find the answer to your questions here, feel free to give us a call at 847-847-2505

Do you manage both stock and bond portfolios?

Yes. We build a portfolio of conservative, high-quality stocks and hold them for the long-term. The average holding period is 4 – 5 years. Our focus is on stocks that are suitable for retirement portfolios.

Our high-quality bond portfolios are designed to provide both income and stability of principal. Bonds provide the anchor for balanced accounts (those holding both stocks and bonds).

What is your investment philosophy?
We take great care in purchasing only high-quality stocks and bonds intent on a multi-year holding period. Portfolio turnover and taxable realized gains are modest in comparison to other active managers. We do not time the market but will become more defensive, in terms of stock holdings, when market conditions warrant.
Will the portfolio be managed in accordance with my financial goals?
Yes. Each of our clients has a custom-tailored portfolio. These custom portfolios are designed to meet specific client objectives with a thoughtful approach to specific constraints such as risk tolerance. And as each client’s situation changes, the portfolio does as well. There is no cookie cutter approach.
What kind of expertise do you have and how can that help me in difficult markets?
We have been working with high-net-worth clients like you since 1982. Over that time we have helped them to navigate several bear markets and financial crises (including the stock market crash of 1987). We hold the Chartered Financial Analyst (CFA) and Certified Financial Planner (CFP) designations.
Are you sensitive to taxes when managing portfolios?
Yes. Our holding period for an individual stock averages 4 plus years which means our turnover is low and realized gains can be carefully managed. Further, where possible, we tax loss harvest small losses as a way of offsetting gains taken elsewhere in the portfolio.
How have you performed?
Results will differ by client and the level of customization but we have provided competitive investment returns for many years.
How do you charge for your services?
We charge a management or consultant fee based upon the size and level of customization of the account. As the account grows, we benefit together.

Recent Commentaries

Stay up to date with all of our latest comments and analysis.

November 2024 Market Commentary

With an YTD gain of 22.1% through yesterday, the S&P 500 is on pace for its second annual 20% gain in a row....
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October 2021 Market Commentary

Sep 28, 2021

Q.  If the government shuts down on October 1st, are stocks in for a rough patch? Goldman Sachs recently concluded that U.S. government shutdowns generally have not meaningfully impacted equity returns. In the 14 government shutdowns since 1980, the S&P 500 posted...

Make Hay While The Sun Shines: A Summary Of Our Outlook For Stocks

Sep 1, 2021

Fed Chair Powell's speech last Friday at the Jackson Hole economic policy symposium is key for investors to gauge short and intermediate-term monetary policy.  The bottom line is that easy monetary policy will remain for some time to come. The large number of hawks on...

Day Trading Versus Buy and Hold

Aug 2, 2021

This quarter's corporate earnings reports have been stellar. With about 40% of S&P 500 companies having now reported, 91% beat analyst expectations, the highest level on record according to Refinitiv.  But that doesn't mean their stock prices rose as a result.  In...

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Monthly Updates

July 2022 Mid-Month Recap

Jul 19, 2022

Higher interest rates are not only hitting stock and bond markets, they are also hurting the housing market. Thirty-year fixed mortgage rates are off the recent high of six percent, but mortgage applications are plunging, consistent with an outright collapse in sales...

June 2022 Mid-Month Recap

Jun 21, 2022

While earnings growth has held up (analysts still project 10.4% growth in calendar 2022 according to FactSet), it hasn’t been enough to offset the collapse in valuations.  Are valuations now cheap enough to attract persistent buying and end this bear market?  Probably...

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