September 2023 Mid-Month Recap

by | Sep 19, 2023 | Monthly Updates

One of the drawbacks of stronger economic data for the U.S. economy is that interest rates just won’t stop going up and are near recent highs from last fall.  If or when they break these higher levels, the short-term reaction from the stock market will likely be...

August 2023 Mid-Month Recap

by | Aug 15, 2023 | Monthly Updates

The Q2 earnings season is about over. The big story has been the selling we have seen of stocks after they report.  The average stock has fallen 0.71% on its earnings reaction day, the worst in 10 years. The reports themselves were quite good.  Entering earnings...

August 2023 Market Commentary

by | Aug 1, 2023 | Recent Commentary

June saw a huge increase in bullish sentiment that carried through in July. It has been a complete turnaround since the continuously pessimistic readings throughout 2022.  The about-face has been so large that an investor has to ask:  Are we seeing an increase in...
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Experts in Risk Management

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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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July 2023 Market Commentary

Jul 1, 2023

While the consumer price index (CPI) has fallen from 9% to 4% year-over-year, the producer price index (PPI) has been more volatile on both the upside and subsequent fall. (The CPI measures inflation to consumers or end-users.  The PPI measures wholesale price...

June 2023 Market Commentary

Jun 1, 2023

We mentioned in our May commentary that the main theme for the next bull market could very well be Artificial Intelligence (AI).   Although fundamentals and valuation metrics lead us to believe we are not yet in a new bull market, no one has told investors in AI...

May 2023 Market Commentary

May 2, 2023

Corporate earnings season for Q1 is now about halfway completed. So far, modest expectations have been exceeded.  Coming in, investors expected a 6.3% drop in profits.  Now a 4.2% decline is expected.  Here are year-over-year earnings forecasts for the rest of 2023...

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Monthly Updates

November 2023 Mid-Month Recap

Nov 14, 2023

WE WISH YOU AND YOUR FAMILY A HAPPY THANKSGIVING!     It is hard for investors to gauge the trend of future inflation because of conflicting economic reports and Fed speeches. Some Fed speakers make it sound like the battle against inflation has been won.  Others...

October 2023 Mid-Month Recap

Oct 18, 2023

Corporate earnings season has just started for Q3, but early results are positive. Industry estimates for members of the S&P 500 indicate profits of 1.3% higher than a year earlier – a nice improvement from the second quarter’s decline of 2.6%.  S&P 500...

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