June 2023 Mid-Month Recap

by | Jun 13, 2023 | Monthly Updates

This morning the headline CPI was released at 0.1% for the month of May, and 4% year-over-year.  Inflation is coming down as fast as it went up.  The pace of increase in year-over-year inflation has now declined for eleven straight months.  But because monthly ‘core’...

May 2023 Mid-Month Recap

by | May 15, 2023 | Monthly Updates

Stocks remain in no man’s land, with neither side making much progress. This probably helps to explain why the market doesn’t feel much like a bull or bear.  From a technical perspective, we are still in a bear market but remain in a tight trading range.  The S&P...

March 2023 Mid-Month Recap

by | Mar 14, 2023 | Monthly Updates

BANK FAILURES… MORE TO COME? The “higher for longer” narrative was erased last week in the blink of an eye with the collapse of Silicon Valley Bank (SVB).  Systemic risk to the financial system is one thing that will stop the Federal Reserve’s current rate hike...

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,...
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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.

November 2025 Market Commentary

We are in the heart of earnings season, and it has been an excellent one. About 64% of S&P 500 companies have...
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September 2024 Market Commentary

Sep 4, 2024

August was a roller coaster for stocks. Moves lower in a roller coaster market can be terrifying, and in the first three trading days of August, investors had to contend with economic data showing what looked like a sharply decelerating economy and the unwind of the...

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...

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Monthly Updates

February 2025 Mid-Month Recap

Feb 11, 2025

Earnings season so far has recorded the strongest year-over-year earnings growth since 2021. Revenue and earnings beat rates are solid but share price reactions have been muted.  Instead, investors are focused on outlooks which are starting to sour.  This is of...

November 2024 Mid-Month Recap

Nov 12, 2024

As we mentioned in previous commentaries, Barron’s Big Money Poll represents the thoughts of large U.S. investment advisors. Their opinions and forecasts are what is discounted in stock and bond prices.  We think that is important. The recent fall edition of the Poll...

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