When Everything Is Pricey

by | Apr 19, 2021 | Monthly Updates

This quarter’s earnings season just started last week, so it is still early.  Results were centered on the big banks which mostly reported blow-out earnings and revenues.  The stock reactions, however, were mixed.  When the bar is set high heading into earnings season...

Blast Off For The U.S. Economy

by | Mar 2, 2021 | Recent Commentary

The pandemic closed casino doors and opened up a much more addictive and accessible form of gambling:  online day trading.  It is the new drug of choice for generations Y and Z.  With zero commissions and easy access to leverage, those young adults are at risk of...

Keeping An Eye On Inflation

by | Feb 17, 2021 | Monthly Updates

Here are a few of our favorite market internal indicators that are confirming the all-time highs in stocks.  The first one, the cumulative advance/decline line (breadth), is rising along with stock prices, a healthy sign. Second, high-yield bond spreads (the spread in...
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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Our Annual Q & A

Sep 29, 2020

1.  What happened in September? Is this a textbook correction or the start of something worse?  The pullback in stocks in September is due to a number of reasons: -              Tech stocks (including the FANG+ names) had powerful gains in the summer and had to come...

The Market Is Exuberant, But Is It A Bubble?

Sep 2, 2020

S&P 500 performance this year has been dominated by the index’s largest components, and the disparity by cap size is great. So far this year, the 50 largest stocks in the S&P 500 are up an average 11.3% YTD through August 28th.  The 50 smallest stocks are down...

What’s In Store For Act IV

Aug 5, 2020

The five largest stocks in the S&P 500 (Apple, Amazon, Microsoft, Alphabet, and Facebook) have collectively added $1.66 trillion in market cap this year.  The other 495 stocks in the index have lost $1.61 trillion in market cap!  The average share price increase...

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Monthly Updates

October 2021 Mid-Month Recap

Oct 19, 2021

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...

Can Stocks Continue To Advance With Rising Inflation?

Sep 16, 2021

CNN Business runs a “Fear and Greed” index which currently leans more towards “fear” than “greed.”  The reading is generated by seven indicators including price momentum, put/call spreads, junk bond demand, market breadth, and market volatility.  The current reading...

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