Winter 2026 Newsletter

Welcome to our Winter Newsletter! 
 
The new year has begun with a plethora of news that directly impact markets and investments – and much of it has been negative, including the most recent conflict in Iran. However, so far this year, markets have proven to be fairly resilient, even during the first few days of this conflict.

One question we’ve heard quite a few times lately is “Why?”

Before I address that question, I must speak to a difficult reality of discussing certain events, especially wars, in the context of what we do as financial advisors and investment managers. Sometimes we have to talk about horrific things in ways that feel somewhat cold. While we consider markets and economic realities, we never want to lose sight of the human cost behind these events. The impact of war, displacement, and tragedy is very real, and we remain deeply sensitive to those suffering. Our goal is never to treat these crises as mere data points, but to balance that human reality with the financial landscape, so we can be both informed and empathetic as we move forward.

That said, regular readers of these pieces or listeners to our webcasts have heard me say this phrase before: markets can handle good news, and markets can handle bad news, but what they don’t like is unexpected news. The situation in Iran, while incredibly serious, was not entirely unforeseen. This is also true of many of the other major economic stories that have marked the landscape of this already very 

busy 2026. Though no one can predict every detail and we certainly anticipate more volatility, so far, the market’s response has been measured and largely in line with our expectations. For more details, I encourage you read on, as following this note, our Research Director Sonny Mehra dives much deeper into the factors at play.
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As we navigate yet another period of global uncertainty, I want to again emphasize the importance of staying calm and maintaining perspective. The political divides that mark our time, which are exacerbated by media – social and traditional – can easily cloud the narratives. Be extremely cautious about reacting too quickly in times of stress. There is always pain of all types in the world, but make no mistake, there are opportunities also. Many market fundamentals remain strong, and there are investment themes present today that we believe can provide great value over time.

To speak about StraightLine for a moment, we couldn’t be more excited about what’s to come in 2026. We continue to grow and evolve, and we look forward to welcoming a few new team members later this year. Each addition brings fresh expertise and energy, and together, we are investing in new technologies and deeper capabilities to deliver the tailored, forward-looking solutions you need. We can't wait to grow alongside you as we navigate the opportunities and challenges that lie ahead.

As always, our team is closely monitoring the financial environment, and we will continue to focus on the fundamentals – your financial goals, your cash flow needs, and your timeline. If anything feels off or if your circumstances have changed, please reach out. We are here to help you navigate, with clarity and confidence.
 
Thank you as always for your trust in StraightLine, and we look forward to staying by your side as we move through this dynamic time.
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—-Mike

​Michael Bisaro, AIF®
​President and CEO

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Don’t miss our educational blogs and videos!

The latest StraightTalk Blog discusses how families can improve communication about their finances. Money Talks at Home: Building Family Financial Wellness Through Communication and Clarity offers a guide to making family money discussions successful, productive, and engaging for all ages.

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StraightLine Celebrations

You may have noticed in the Fall Newsletter that President and CEO Mike Bisaro was a finalist for the ThinkAdvisor Luminaries with a Heart in the 2025 Luminaries Awards. Mike joined the other finalists in New York City in December to celebrate and was named a winner at the gala. This distinguished recognition honors individuals who go above and beyond in empowering endeavors that have a highly beneficial impact on communities locally and globally.

Honorees in this category set a model for industry excellence through both qualitative and quantitative results. Mike’s work exemplifies these standards. 

His mentorship of emerging financial professionals, educational outreach at schools and Universities around the country, and leadership in spotlighting ethical, client-focused service continue to raise the bar for our industry.

Mike’s efforts have made a tangible difference for aspiring professionals in the past year – and inspired even more across the profession with his commitment to meaningful change.

​Congratulations, Mike! Your dedication is what Luminaries With a Heart is all about.

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StraightLine In the Community

We have added a page to the StraightLine website devoted to the charities and causes that mean the most to all of us at StraightLine. See our The Community Page here.

​On February 19th, StraightLine was a proud sponsor of the MSU Finance Gala! The event brought together students, alumni and industry professionals for a night of inspirational speakers and wonderful conversations. Pictured: Kyle Zammit, Rocco Valente, Elizabeth Bisaro, Jeff Nugent, Gunner Bliss, Mike Bisaro.

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​On January 30, Elizabeth Bisaro had the opportunity to serve as a judge at the 2026 Women’s Leadership Case Competition hosted by Michigan State University’s Women in Finance. The competition brought together talented students who demonstrated strategic thinking, collaboration, and a strong commitment to leadership.

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​On December 3rd, Mike Bisaro joined the Financial Planning Association of Central Michigan University to discussthe modern advising landscape.

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StraightLine In the News

In case you missed the big news, StraightLine and Financial Wellness Labs have partnered to offer improved employee financial well-being and retirement readiness. Read the full news release here.

In honor of International Day of Women and Girls in Science, Elizabeth Bisaro contributed to this article that offers advice to women considering entering a career in STEM. Read the full article here .

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StraightLine Financial Snacks

​Our new snackable educational posts from the StraightLine Advisory Team have been popular, covering topics such as qualified charitable distributions, when to start saving for retirement, market volatility, and more. Be sure to follow us on social media so you don't miss any of the shared snacks!

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StraightLine Market Updates

Our next Quarterly update meeting is scheduled for Thursday, March 12 at 2pm. Click here to watch the live presentation, or you can find previous updates by going to our Digital and In-Person Events page.

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Be sure that you are subscribed to receive the Weekly Market Updates directly into your inbox each Tuesday.
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Quarterly Market Update

​From your Investment Strategy Team

We often find ourselves asking: where do we even begin? Distilling the current global landscape into a cohesive narrative is becoming an increasingly complex task. We appear to be living in a "choose your own adventure" reality where a sense of shared truth has evaporated. Yet, remarkably, so far markets have been relatively resilient. Markets are either acting as the ultimate efficient arbiters of truth or are gripped by a profound case of cognitive dissonance. At StraightLine, our investment philosophy remains focused on a core objective: positioning for a wide spectrum of potential outcomes.

​For the decade following the 2008 financial crisis, a standard US-centric allocation was the undisputed winning strategy. In that environment, looking beyond domestic borders often felt unnecessary. However, the post-pandemic landscape has shattered that narrative. We are witnessing a structural return to broad-based diversification - one that integrates non-US assets, commodities, and alternative strategies, alongside a more tactical use of cash. As the global order evolves, we believe that a multi-asset approach is no longer optional; it is the most reliable tool for generating resilient long-term outcomes.

We are currently leaning toward a more cautious short-term stance. This is not a bearish call, but rather a recognition of the risks currently clustering on the horizon. Geopolitics is the most obvious variable. While markets usually look past political drama, armed conflict is where things get complicated. We recently saw the overthrow of Nicolas Maduro in Venezuela pass without a major market ripple - but we should not assume the same for the situation in Iran. With active fronts in Ukraine and new friction between Afghanistan and Pakistan, the potential for escalation is real. We will not waste time speculating on what all of this might mean. However, it is worth noting thatthroughout time, it is the unintended consequences that end up shaping history. While certain actions may seem good or bad at the time, there is no telling precisely how they will shape things in the years following. For now, expect more conflict. We believe that oil prices will rise with tensions high in the Middle East, while safe-haven assets like gold and US treasuries likely will see more demand.

A major inflection point for the markets is also approaching this summer as Kevin Warsh is slated to succeed Jerome Powell as Fed Chair. This is not just a change in personnel; it is a potential shift in the very foundation of how the Fed operates. Since the 2008 crisis, the Fed has supported markets by flooding the system with liquidity— a policy known as 'Abundant Reserves.' Warsh, however, favors a slimmer Fed. He has signaled a desire to shrink the balance sheet, potentially offsetting that tightening by lowering short-term rates. Whether this swap can be executed without disrupting market liquidity is the multi-trillion-dollar question. Given this uncertainty, we are staying defensive on interest rate risk while we watch for the first signs of this transition to take place.

Rounding out our near-term concerns is the upcoming mid-term election cycle. While we caution against making portfolio shifts based on political sentiment, we recognize that policy uncertainty is a tangible market catalyst. Historically, markets experience heightened volatility in the months leading up to a mid-term vote. However, this preelection consternation often gives way to a relief rally once the results are finalized— particularly if the outcome is a    divided government, which the market often views as a stabilizer. While we anticipate a period of choppy price action and would not rule out a tactical pullback, we remain focused on the underlying market fundamentals.

To read more please click here to go to our website.

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Index Descriptions: The Standard and Poor's 500, or simply the S&P 500, is a stock market index tracking the stock performance of 500 of the largest companies listed on stock exchanges in the USA. The Russell 2000 Index is a stock market index that tracks roughly 2000 US small companies and is considered a key benchmark for US small cap stocks. The MSCI EAFE Index is a stock market index that measures the performance of large- and mid-cap companies across 21 Developed markets countries around the world. Canada and the USA are not included. EAFE is an acronym that stands for Europe, Australasia, and the Far East. The MSCI Emerging Markets Index captures large and mid-cap representation across 24 Emerging Markets (EM) countries. The Bloomberg US Aggregate Bond Index, or the Agg, is a broad based, market capitalization-weighted bond market index representing intermediate term investment grade bonds traded in the USA.

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