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,...

October 2022 Mid-Month Recap

by | Oct 13, 2022 | Monthly Updates

It was easy to get wrapped up in all of the negative headlines when stocks hit their bear market low on September 30th.  But there were reliable technical factors that indicated the selling had gone too far – at least in the short term.  Here are three of those...

September 2022 Mid-Month Recap

by | Sep 13, 2022 | Monthly Updates

During the reign of Queen Elizabeth II, there were 13 separate bear markets in the U.S. There have been 11 confirmed recessions since the Queen was coronated in 1953, and we are on the verge of a twelfth now.  During each of these economic and market downturns, it...

August 2022 Mid-Month Recap

by | Aug 1, 2022 | Monthly Updates

The S&P 500 is up 17% since June 16th, yet market fundamentals seem to be deteriorating. Profit margins are falling, consumer price inflation is still high at 8.5% year-over-year, higher interest rates are slowing down many sectors of the economy (especially...
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.

August 2025 Market Commentary

This earnings season (Q2) is still very young, but beat rates in both revenue and profits are well above average. Yet...
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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,...

May 2024 Market Commentary

May 1, 2024

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 Market Commentary

Apr 2, 2024

With Q1 2024 now complete, the S&P 500 index posted a return of 10.2%. That was good enough to beat the tech-heavy NASDAQ 100 and the blue-chip Dow Jones 30 on the large-cap front.  It also beat both small-caps and mid-caps. It is remarkable that we haven’t seen a...

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Monthly Updates

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...

August 2024 Mid-Month Recap

Aug 13, 2024

Stocks remain in an uptrend whether you look at short-term or long-term indicators.  We will focus here on the longer-term, the 200-day moving average.  As shown in the graph below, the S&P 500’s 200-day continues to make another leg higher and has yet to roll...

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