December 2021 Mid-Month Recap

by | Dec 14, 2021 | Monthly Updates

We sincerely appreciate our relationships with clients and friends and want to say thank you during this joyous season.  May your holidays be bright.  We wish you the best in 2022. Pundits have been quick to point out that inflation could be a major roadblock to...

November 2021 Mid-Month Recap

by | Nov 16, 2021 | Monthly Updates

Pavilion Global Markets recently did a study on the source of stock market returns over the last decade. According to Pavilion, the decomposition of returns for the S&P 500 breaks down as follows: 31.4% from earnings 7.1% from dividends 21.0% from multiple...

October 2021 Mid-Month Recap

by | Oct 19, 2021 | Monthly Updates

This quarter’s earnings season is off to a good start as 81% of companies reporting have beat EPS estimates, and 80% are beating revenue forecasts. We remain focused more on what companies will say on the conference calls about four key areas and view these factors as...
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
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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Tale of Two Breadths: Now Versus The Dot.Com Era

Jul 12, 2021

Technology stocks are back. After underperforming the broader market since last October, they sprang to life in June and early July.  Inflation fears have cooled which have sent rates lower, and the economy may be experiencing peak growth before the inevitable...

Another Crash In Bitcoin

Jun 3, 2021

The booming economy will be a tailwind for corporate revenue while much of the pandemic-era cost cutting remains in place, boosting profit margins.  In fact, the S&P 500 components’ forward net profit margins stand at a record-high 12.8%, according to Yardeni...

Big Money Poll Of Professional Investors

May 4, 2021

Since the start of April, 87% of reporting companies have topped EPS forecasts, 75% have exceeded sales forecasts, 16% have raised guidance, and just 2% have lowered forecasts.  Overall, S&P 500 earnings growth is currently on pace to total 44% in the first...

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Monthly Updates

May 2022 Mid-Month Recap

May 18, 2022

This year is the worst bond market we have seen in 30 years.  And April was the worst month ever for bonds.  60/40 balanced investors could be down double digits YTD (based on common benchmarks) unless they have strategically positioned themselves to avoid some of the...

March 2022 Mid-Month Recap

Mar 15, 2022

Not long after Vladimir Lenin returned from exile in Switzerland to lead the Russian revolution in 1917, he was credited with saying, “There are decades where nothing happens, and there are weeks where decades happen.”  The current Russia-Ukraine war isn’t even three...

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