June 2024 Mid-Month Recap

by | Jun 18, 2024 | Monthly Updates

We got a favorable CPI print for May last week. Core CPI decelerated to the slowest monthly pace in almost three years.  Core CPI ex-rent dropped month-over-month and is now below a 1% annual rate of change on both a three month and 12 month basis.  This was arguably...

June 2024 Market Commentary

by | Jun 4, 2024 | Recent Commentary

In the week leading up to Memorial Day weekend, the S&P 500 traded higher 23 out of the prior 30 weeks. There have only been a handful of other periods since WWII where the index had as many positive weeks in a 30-week span. Is the market exhausted after this run,...

May 2024 Mid-Month Recap

by | May 15, 2024 | Monthly Updates

Barron’s Big Money Poll is a must read for us. Large institutional money managers are an important source of demand for equity shares.  So the poll gives us insight into what a key group of investors are thinking and doing.  They make up part of Wall Street’s...

May 2024 Market Commentary

by | May 1, 2024 | Recent Commentary

Early in April, higher interest rates drove share prices roughly 5% lower up until the 2.8% gain in the S&P 500 last week. Yields were not the driver last week.  Instead, it is another narrative, specifically artificial intelligence, that pushed the market higher...

April 2024 Mid-Month Recap

by | Apr 17, 2024 | Monthly Updates

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...
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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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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.

May 2026 Market Commentary

THE RALLY CONTINUES:  ODDS AND ENDS The rally in the S&P 500 continues and is up 13% since March 30 - and over 15%...
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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

October 2024 Mid-Month Recap

Oct 15, 2024

INVESTORS BALANCE SHEET – PROS AND CONS Here are a few of the pros and cons investors should consider when forming an opinion of the stock market.  It is always important for investors to look at both sides of the argument even if they feel strongly in one direction,...

September 2024 Mid-Month Recap

Sep 17, 2024

At the end of June, the six month performance spread between the cap-weighted S&P 500 and equal-weighted S&P 500 was the highest in over 20 years, going back to March 2000.  If an investor didn’t have heavy exposure to the Mag-7, their portfolio went nowhere...

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