June 2025 Mid-Month Recap

by | Jun 17, 2025 | Monthly Updates

It is no surprise that as the stock market has rallied sharply off the April 8th low, sentiment improved. Is the move from extreme fear into greed territory a sign of complacency?  Let’s look at two popular sentiment indicators: First, the CNN Fear and Greed Index has...

June 2025 Market Commentary

by | Jun 4, 2025 | Recent Commentary

Investor sentiment soared in May along with stock prices.  According to a recent AAII survey, the percentage of bullish respondents rose to 37.7% versus 20.9% at the start of May.  Bears dropped from nearly 60% at the start of the month down to 36.7%.  These are big...

May 2025 Mid-Month Recap

by | May 20, 2025 | Monthly Updates

With earnings coming in much stronger than expected and a series of trade policy reversals, stocks have cruised higher in May (up about 6% so far) and are now both higher for the year and within 4% of new all-time highs. The most significant walk-back came last week...

May 2025 Market Commentary

by | May 1, 2025 | Recent Commentary

Earnings season has been strong. The results could have sparked more bearishness, but instead have generally been a sigh of relief.  Of the companies that have reported so far, an above-average 73% beat earnings estimates, and 63% beat sales estimates.  In terms of...

April 2025 Mid-Month Recap

by | Apr 16, 2025 | Monthly Updates

The shares of Apple common stock peaked just after Christmas and then lost a third of their value in less than four months. They have since recovered about 17%.  There are many stocks that have been more volatile but Apple is the largest company by market value in the...
Knowledge – Results

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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
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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.

June 2025 Market Commentary

Investor sentiment soared in May along with stock prices.  According to a recent AAII survey, the percentage of...
Read More

May 2025 Market Commentary

May 1, 2025

Earnings season has been strong. The results could have sparked more bearishness, but instead have generally been a sigh of relief.  Of the companies that have reported so far, an above-average 73% beat earnings estimates, and 63% beat sales estimates.  In terms of...

April 2025 Market Commentary

Apr 1, 2025

IS IT ONLY TARIFFS? The blame for the market’s drop lies squarely on the shoulders of tariffs.  During the period when the markets recently rallied from March 14th through March 25th, there was very little “tariff talk.”  When 25% auto tariffs were announced last...

March 2025 Market Commentary

Mar 4, 2025

Here are our final thoughts on the just completed earnings season for Q4 ’24. Both the EPS and revenue beat rates were very solid.  Of course, earnings are, in part, a lagging indicator.  They don’t necessarily tell us much about what happens next.  Guidance helps...

View All

Monthly Updates

June 2025 Mid-Month Recap

Jun 17, 2025

It is no surprise that as the stock market has rallied sharply off the April 8th low, sentiment improved. Is the move from extreme fear into greed territory a sign of complacency?  Let’s look at two popular sentiment indicators: First, the CNN Fear and Greed Index has...

May 2025 Mid-Month Recap

May 20, 2025

With earnings coming in much stronger than expected and a series of trade policy reversals, stocks have cruised higher in May (up about 6% so far) and are now both higher for the year and within 4% of new all-time highs. The most significant walk-back came last week...

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