December 2023 Mid-Month Recap

by | Dec 19, 2023 | Monthly Updates

The S&P 500’s price change so far in Biden’s Presidency is now essentially right at the average gain that we have seen at this point in the four-year Presidential Cycle for the S&P 500 going back to 1928.  We are now at the end of year three of the election...

November 2023 Mid-Month Recap

by | Nov 14, 2023 | Monthly Updates

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

by | Oct 18, 2023 | Monthly Updates

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...

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...

July 2023 Mid-Month Recap

by | Jul 18, 2023 | Monthly Updates

The June CPI (consumer price index) was released last Wednesday. The readings came in at 0.2% month-over-month for both headline and core.  We tend to focus more on the headline number that includes food and energy, two important components of consumer spending.  On a...
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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.

April 2025 Market Commentary

IS IT ONLY TARIFFS? The blame for the market’s drop lies squarely on the shoulders of tariffs.  During the period when...
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August 2024 Market Commentary

Jul 30, 2024

Just when it seemed mega-caps may never go down and small-caps may never go up again, we have seen a short-term reversal of epic proportions. The tech-heavy NASDAQ 100 is down about 8% while the small-cap Russell 2000 is up almost 10% over the last 13 trading days. ...

July 2024 Market Commentary

Jul 9, 2024

This week marks the beginning of earnings season for the second quarter.   S&P 500 companies are expected to report a fourth straight quarter of growth, with profits forecast to rise 8.8% over last year’s second quarter (source:  FactSet). The top 10 companies in...

June 2024 Market Commentary

Jun 4, 2024

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,...

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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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