Shana Sissel

With Fed Chair Warsh signaling no forward guidance and potential for rising volatility through 2026-2027, Shana Sissel recommends adding diversifying alternatives such as managed futures, long/short equity, market neutral, commodities, and trend volatility strategies to mitigate portfolio volatility. These can now be accessed via ETFs and interval funds, moving away from gate-kept structures, and are expected to maintain strong absolute returns while reducing drawdowns.

"I'm not touching anything that is highly sensitive to the price of oil right now... I will not be dipping my toes into the travel sector." With oil prices spiking above $100, jet fuel and marine fuel costs will severely compress operating margins for airlines and cruise operators. Simultaneously, a squeezed consumer paying higher prices at the pump will reduce discretionary travel spending. SHORT. The fundamental cost structure of these businesses is broken under triple-digit oil, and they are already entering a technical bear market (down 22% from peaks). A rapid end to the Middle East conflict would crash oil prices, sparking a massive short-covering rally in heavily beaten-down travel stocks.

"I'm not touching anything that is highly sensitive to the price of oil right now... I will not be dipping my toes into the travel sector." With oil prices spiking above $100, jet fuel and marine fuel costs will severely compress operating margins for airlines and cruise operators. Simultaneously, a squeezed consumer paying higher prices at the pump will reduce discretionary travel spending. SHORT. The fundamental cost structure of these businesses is broken under triple-digit oil, and they are already entering a technical bear market (down 22% from peaks). A rapid end to the Middle East conflict would crash oil prices, sparking a massive short-covering rally in heavily beaten-down travel stocks.

"I'm not touching anything that is highly sensitive to the price of oil right now... I will not be dipping my toes into the travel sector." With oil prices spiking above $100, jet fuel and marine fuel costs will severely compress operating margins for airlines and cruise operators. Simultaneously, a squeezed consumer paying higher prices at the pump will reduce discretionary travel spending. SHORT. The fundamental cost structure of these businesses is broken under triple-digit oil, and they are already entering a technical bear market (down 22% from peaks). A rapid end to the Middle East conflict would crash oil prices, sparking a massive short-covering rally in heavily beaten-down travel stocks.