Keeping An Eye On Inflation

by | Feb 17, 2021 | Monthly Updates

Here are a few of our favorite market internal indicators that are confirming the all-time highs in stocks.  The first one, the cumulative advance/decline line (breadth), is rising along with stock prices, a healthy sign. Second, high-yield bond spreads (the spread in...

Value Is Where You Find It

by | Jan 21, 2021 | Monthly Updates

More and more investors think we are in an epic stock market bubble.  They may be right, but we won’t know until after the fact.  There are a few important differences between now and the dot.com bubble of 20 years ago.  First, 2000’s high valuations were based on...

Election Winners and Losers

by | Nov 18, 2020 | Monthly Updates

Why has the stock market been so strong since Election Day?  In our view, the prospect of a Biden victory and a GOP Senate was not expected which is partially why we are seeing equity prices soar.  Add the good news that Pfizer and Moderna both announced very good...

The Bull and Bear Case for Stocks

by | Oct 14, 2020 | Monthly Updates

Investors are entering third-quarter earnings season with bright expectations that this could propel the next leg of the stock market’s rally.  After all, analysts have been lifting estimates for the quarter – a move that goes against the norm.  Typically, earnings...
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
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.

Get Started

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.

View full bio

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.

View full bio

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...
Read More

May 2023 Market Commentary

May 2, 2023

Corporate earnings season for Q1 is now about halfway completed. So far, modest expectations have been exceeded.  Coming in, investors expected a 6.3% drop in profits.  Now a 4.2% decline is expected.  Here are year-over-year earnings forecasts for the rest of 2023...

April 2023 Market Commentary

Apr 11, 2023

The S&P 500 had a solid month in March; up 3.5%.  But not everything rallied in March.  Small caps and mid-caps were down 3-5%.  Only 3 of 11 equity sectors are up March YTD.  And high quality stocks have been lagging all year as shown by the difference in...

March 2023 Market Commentary

Mar 1, 2023

THE WAR AGAINST INFLATION HITS A SPEED BUMP Six weeks ago we wrote in the January mid-month commentary that the Fed was winning the war against inflation.  If we look at their progress since last year’s peak inflation that is still true.  But January hit a snag. ...

View All

Monthly Updates

October 2023 Mid-Month Recap

Oct 18, 2023

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

Sep 19, 2023

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...

As a current or near term retiree you have real concerns…

We provide dedicated solutions
Contact Us

Professional Links

Association Links

Content Links