If there’s one piece of investment advice Michael Stohler has for the coming year, it’s not to get caught up in day-to-day changes.
“We, as long-term investors, have a strategic plan where we know, on average, what we want the portfolio to look like through the entire cycle. We rebalance, but we stick to the long-term targets,” says Stohler. “It’s like watching paint dry, but it’s actually aligned with the best outcomes.”
Stohler says that while some technology trends will shape investment themes, normal management strategies are still the way to go in 2026.
“The valuations aren’t so stretched that we need to do something,” says Stohler. “We’re in the normal zone.”
Stohler, the chief investment officer at the Wisconsin Foundation and Alumni Association (WFAA) and its subsidiary, the Wisconsin Investment Management Company (WISIMCO), is an expert in long-term investments. He earned a doctorate in physics at Purdue University and an MBA at New York University’s Stern School of Business, and prior to working in higher education, he was the managing director and international head of portfolio construction for J.P. Morgan’s wealth management unit.
On December 9, 2025, Stohler will join the UW Now Live to discuss investments and the economy in 2026. Stohler’s knowledge in investing will provide insight on how to strategize in the coming year.
My Chief Area of Expertise Is:
I’m an expert in long-term investing. For a very long time, I’ve managed portfolios like that of WISIMCO and WFAA. Here, we manage $6 billion, five of which is endowment capital and invested across every asset class, where we have a near perpetual investment horizon that we’re managing against and an incredibly high cost of capital.
On the UW Now Live, I’ll Talk About:
I’ll talk about the valuation environment, risks on the horizon, themes that are being expressed today in our long-term investment pool, and new investment opportunities.
If There’s One Thing Viewers Should Take Away, It’s:
The main takeaway is stay the course. Keep moving forward. We’re in the normal zone, and when you’re in the normal zone you just stick to your strategic plan.
To Get Smart Fast, See:
To stay current on the market, read the Financial Times and the Economist. Those are two of my favorite news sources.
