February 2023 Mid-Month Recap

by | Feb 14, 2023 | Monthly Updates

2023’S DASH FOR TRASH The market has turned upside down in early 2023.  This year has been about huge gains in stocks that got destroyed in 2022.  The stocks that were down the most last year are some of this year’s best performers.  For example, busted IPOs, SPACs,...

December 2022 Mid-Month Recap

by | Dec 14, 2022 | Monthly Updates

  During this holiday season, we want to take this opportunity to express our sincere appreciation and gratitude to all of our clients and friends.  Our best wishes to you and your loved ones for a Merry Christmas and Happy Hanukkah!   Where is this year’s...

November 2022 Mid-Month Recap

by | Nov 16, 2022 | Monthly Updates

Sometimes it is hard to find glimmers of hope in the midst of a bear market.  Maybe last Thursday’s 1200 point surge in the Dow was an indication the worst is over.  Time will tell. Seasonals, however, are very bullish right now.  Here is what we mean:  First,...

October 2022 Mid-Month Recap

by | Oct 13, 2022 | Monthly Updates

It was easy to get wrapped up in all of the negative headlines when stocks hit their bear market low on September 30th.  But there were reliable technical factors that indicated the selling had gone too far – at least in the short term.  Here are three of those...

September 2022 Mid-Month Recap

by | Sep 13, 2022 | Monthly Updates

During the reign of Queen Elizabeth II, there were 13 separate bear markets in the U.S. There have been 11 confirmed recessions since the Queen was coronated in 1953, and we are on the verge of a twelfth now.  During each of these economic and market downturns, it...

August 2022 Mid-Month Recap

by | Aug 1, 2022 | Monthly Updates

The S&P 500 is up 17% since June 16th, yet market fundamentals seem to be deteriorating. Profit margins are falling, consumer price inflation is still high at 8.5% year-over-year, higher interest rates are slowing down many sectors of the economy (especially...
Knowledge – Results

Experts in Risk Management

Are you prepared for the next market correction or financial crisis?

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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.

January 2025 Market Commentary

The S&P 500 has had a 20%+ return for two years in a row. It has only rallied 20%+ in back-to-back years three...
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February 2024 Market Commentary

Feb 8, 2024

The Q4 earnings season is about halfway over and it has been mixed at best, in our view. Companies are beating EPS estimates at a normal clip, but revenue growth has been disappointing.  This can lead to both lower profit margins and slower earnings growth ahead. ...

January 2024 Market Commentary

Jan 3, 2024

  TURN THE PAGE:  HELLO 2024!   We will start with an executive summary of economic and market factors we think are important as we gauge the chances for another good year in stocks in 2024: DOMINANT THEMES:  Inflation, the Fed, and artificial intelligence...

December 2023 Market Commentary

Dec 5, 2023

  During this holiday season, we want to thank you for your friendship and trust in us.  Our best wishes to you for a Merry Christmas and Happy Hanukkah!   We follow the U.S. housing market closely because housing is such a significant part of our economy....

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Monthly Updates

April 2024 Mid-Month Recap

Apr 17, 2024

Although not even close to correction territory, the market has been acting heavier and heavier.  Here is part of the reason why: The huge AI theme may be the market’s spinach, but the three-headed monster of higher oil prices, interest rates, and the U.S. dollar have...

March 2024 Mid-Month Recap

Mar 12, 2024

The U.S. stock market is overbought in the short-term and a near-term pullback can never be ruled out, especially in mega-cap tech land.  Regarding the Fed, the late December 2023 pivot has helped, but this rally is about much more than the Fed (we suspect...

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