Election Winners and Losers

by | Nov 18, 2020 | Monthly Updates

Why has the stock market been so strong since Election Day?  In our view, the prospect of a Biden victory and a GOP Senate was not expected which is partially why we are seeing equity prices soar.  Add the good news that Pfizer and Moderna both announced very good...

COVID-19 Resurgence

by | Oct 29, 2020 | Recent Commentary

So far in 2020 we have had a pandemic, a recession, an impeachment trial of a president, social unrest, and a contentious presidential campaign.  The coming year could be just as eventful.  What do institutional money managers think about such an uncertain environment...

The Bull and Bear Case for Stocks

by | Oct 14, 2020 | Monthly Updates

Investors are entering third-quarter earnings season with bright expectations that this could propel the next leg of the stock market’s rally.  After all, analysts have been lifting estimates for the quarter – a move that goes against the norm.  Typically, earnings...

Our Annual Q & A

by | Sep 29, 2020 | Recent Commentary

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...
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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Massive Stimulus Thrown At The Economy And Markets

Apr 1, 2020

In markets like this we look for clues in sentiment that tell us just how oversold a market may be.  Sentiment indicators are contrarian indicators; that is, when they are at peak bearishness, the market is likely to rally.  Currently, sentiment indicators are very...

Markets Driven By Fear

Mar 4, 2020

  Equities are trying to find a floor even though the news flow on the spread of the coronavirus outside of China hasn’t shown any signs of improvement.  A number of market indicators would suggest forward returns from current oversold levels should be pretty...

Will The Coronavirus Derail This Year’s Earnings Recovery?

Feb 4, 2020

Can investors look back at SARS in 2003 and use that market behavior to analyze how today’s markets might be impacted by the coronavirus?  Probably not.  Both the economic and market conditions were much different in 2003 than they are now.  In 2003 we were coming out...

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Monthly Updates

Inflation Is Here: Transitory Or Secular

May 18, 2021

    All you have to do is look around to see there is inflation pressure everywhere.  We appear to be in stimulus shock.  M2 has gained 26% year-over-year, the largest gain since 1943.  M1, or very liquid money in circulation, is up by 316%.  Fiscal spending...

When Everything Is Pricey

Apr 19, 2021

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...

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