Value Is Where You Find It

by | Jan 21, 2021 | Monthly Updates

More and more investors think we are in an epic stock market bubble.  They may be right, but we won’t know until after the fact.  There are a few important differences between now and the dot.com bubble of 20 years ago.  First, 2000’s high valuations were based on...

The Folly Of Forecasting

by | Jan 7, 2021 | Recent Commentary

Last year’s zeal for risky investments was epitomized by the run-up in cryptocurrencies.  For example, bitcoin quadrupled in value.  The surge in bitcoin was driven by individual and institutional investors alike, many wading into the market for the first time. Over...
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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The Dominance of Growth Stocks Likely to Continue

Jul 1, 2020

In our last commentary, we noted the rebound in economic output was giving investors hope and largely accounted for the rally in stocks off the March low.  We also wrote of the risk of a resurgence of the virus which is now happening in a handful of states.  The...

The Massive Melt-Up Rally

Jun 2, 2020

Once again, investor sentiment proved to be a good contrary indicator.  At the depths of the market crash (late March), sentiment was overwhelmingly bearish.  Since then, the market has had an amazing run (see main section).  As people turned more positive on stocks,...

The Federal Reserve Versus Valuations

Apr 28, 2020

“Unprecedented” feels like an overused word these days, but it is no overstatement when it comes to the oil market.  In the March mid-month commentary, we wrote that the oil supply glut could throw another gut punch to our economy on top of the coronavirus.  Our worst...

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Monthly Updates

August 2021 Mid-Month Recap

Aug 19, 2021

Last week when stocks were rising with the S&P 500 closing at its fifth straight record high, investors seemed unfazed by a Fed taper later this year.  After yesterday’s FOMC minutes and three sharp down days in a row, the market now worries over a Fed taper. ...

Dot.Com Versus Dot.Crypto: A Profile Of Today’s Millennial Investor

Jun 15, 2021

Corporate earnings are on fire.  This year’s first quarter was significantly better than expectations with growth coming in at 52% yr/yr.  The consensus expectation for the second quarter sits at 61%, after which earnings growth is expected to be 23% in the third...

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