The Bull Market Powers Higher

by | May 8, 2019 | Recent Commentary

As we expected, many companies (about 67%) are beating the bottom line consensus estimates for Q1. The earnings bar was set low by both the companies and analysts coming into earnings season making the forecasts easier to beat. And the prior periods of weak guidance...

Here Come The IPOs

by | Apr 17, 2019 | Monthly Updates

Is this another IPO boom signaling a market top?  Lyft recently came public but had a disappointing IPO.  Shares were priced at $72, traded as high as $88.60 on the first day of trading, and currently trade at $57.  More IPOs are on the way.  Coming soon are Uber,...
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.

October 2025 Market Commentary

The U.S. economy is growing above trend. Last Thursday’s third release of Q2 2025 GDP was revised up from 3.29% to...
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There’s More Life Left in This Bull Market

Aug 7, 2018

Are we due for a post-election pop? If history repeats, 2019 may be a very profitable year. Although stock prices typically drop about 3% in the six months prior to a (first term) mid-term election going back to WWII, prices rise on average 19% in the 12 months after...

Tariff Tantrum: Why China Can’t Afford a Trade War with the U.S.

Jul 7, 2018

The rate of earnings growth likely peaked in Q1 (+25%) with growth for all of 2018 forecast at 19.8%. The 2019 forecast will see a deceleration to a still healthy 10.0% (resulting from operating earnings, not the federal tax overhaul - Source: FactSet). In recent time...

Show Us the Money

Jun 18, 2018

Although we were disappointed stock prices didn’t react to spectacular first­quarter earnings (+25%), we remain very interested in what corporations are doing with the extra cash and how this might eventually boost share prices. Share repurchases. First...

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Monthly Updates

The Stock Market Rally Is Focusing On The Present, Not The Future

Apr 14, 2020

      What did the stock market do last week as the Economic Uncertainty Index hit an all-time high?  Rally more than 12% of course!  Signs of a plateau in the outbreak of the COVID-19 virus both here and around the world were the primary drivers of last...

Oil Price War Adds to Economy’s Woes

Mar 17, 2020

The coronavirus is a rare ‘black-swan’ event – an event that is unexpected and unknowable.  It was the match that ignited the market tinderbox.  The richly valued market was priced to perfection with expectations for another good year in 2020.  Those expectations came...

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