Our Approach to Investing

Each client should have a clear understanding of what we do and how we do it. Because we believe that we must take risks in order to reap reward, we feel that it is necessary to describe how we manage client investments. Our portfolio construction is limited to Exchange Traded Funds, a limited universe of stocks that we actively follow and single issue bonds.

We actively manage ETFs and stocks and we ladder held to maturity bond portfolios. Our management activities focus on income generation and risk control using options that trade based on these securities. We hold and protect ETF and stock positions by seeking high probability risk trades in the options market that typically last for four to six weeks.

Our Investment Principles

We believe that asset allocation and security selection alone are insufficient for achieving investment success.
We believe that investment success requires the ability to make money regardless of market direction.
We believe that active risk management and strategic risk taking are key to long term investment success.
We believe that cost control is critical to success.
We believe that investments are often riskier than we perceive them to be.
We believe that correlation must be actively managed.
We believe that income is a critical component of returns.
We believe that tax efficiency is important but secondary to total portfolio return.
We believe that clients should be able to understand and see the value that we provide.

We are a team ofInvestment Experts

Robert M. Gunzenhauser
Principal, Portfolio Manager, Co-Founder

Prior to co-founding the firm in 2008, Rob was a Vice President at Eric M. Godshalk & Company for four years where he was responsible for operations and portfolio management. Earlier in his career Rob held director positions with consulting firms in Manhattan, providing services to finance companies, broker dealers, market makers and commodity traders. Rob began his career at Andersen Consulting in 1989 developing city and state tax management systems. Prior to earning his MBA/Finance from the Stern School of Business at NYU in 2001, he earned an undergraduate degree in economics from Lafayette College and has over 30 years of business experience.

Richard J. Pinola
CPA, Principal, Co-founder

Prior to co-founding Fortuna Capital Advisors, Rich served as the CEO and Chairman of Right Management Consultants for twelve years (NYSE: RHT). During this time the company grew to become one of the largest career transition firms in the world before it was acquired by Manpower, Inc. (NYSE: MAN). Prior to Right, he served as President and COO of Penn Mutual Life Insurance Company where he worked for twenty years. He was the founder and director of The Living Wills Archive Company and the Mutual Association for Professional Services. Rich started his career as a CPA at Price Waterhouse & Co. He is a trustee and graduate of King’s College with a B.S. in Accounting and a member of the board of the Visiting Nurses Association.

He is a past Director of Bankrate, Inc. (NASDAQ: RATE) where he served as Chairman of the Audit Committee, and a member of the Compensation Committee. He is also a past Director of Corporate Property Associates 17 & 18 – Global Inc., managed by W.P. Carey, Inc. (NYSE: WPC) where he served as Chairman of the Audit Committee.

Prior to co-founding the firm in 2008, Rob was a Vice President at Eric M. Godshalk & Company for four years where he was responsible for operations and portfolio management. Earlier in his career Rob held director positions with consulting firms in Manhattan, providing services to finance companies, broker dealers, market makers and commodity traders. Rob began his career at Andersen Consulting in 1989 developing city and state tax management systems. Prior to earning his MBA/Finance from the Stern School of Business at NYU in 2001, he earned an undergraduate degree in economics from Lafayette College and has over 30 years of business experience.
Prior to co-founding Fortuna Capital Advisors, Rich served as the CEO and Chairman of Right Management Consultants for twelve years (NYSE: RHT). During this time the company grew to become one of the largest career transition firms in the world before it was acquired by Manpower, Inc. (NYSE: MAN). Prior to Right, he served as President and COO of Penn Mutual Life Insurance Company where he worked for twenty years. He was the founder and director of The Living Wills Archive Company and the Mutual Association for Professional Services. Rich started his career as a CPA at Price Waterhouse & Co. He is a trustee and graduate of King’s College with a B.S. in Accounting and a member of the board of the Visiting Nurses Association.

He is a past Director of Bankrate, Inc. (NASDAQ: RATE) where he served as Chairman of the Audit Committee, and a member of the Compensation Committee. He is also a past Director of Corporate Property Associates 17 & 18 – Global Inc., managed by W.P. Carey, Inc. (NYSE: WPC) where he served as Chairman of the Audit Committee.