SMARTER IN 10

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1. Everything We Experienced in 2020’s Can’t Take Stock Market Down-Ben Carlson

To reach new highs again and again in the 2020s investors have had to ignore:

• A global pandemic.

• The fastest 30%+ drawdown in history.

• A supply chain crisis.

• Meme stock mania.

• A 40-year high inflation rate of 9%.

• Russia invading Ukraine.

• $140/barrel oil prices.

• The Fed hiking rates 75 basis points in back-to-back meetings.

• Short-term bond yields go from 0% to 5%.

• An inverted yield curve.

• Silicon Valley Bank crisis.

• The 2022 bear market.

• The worst bond market crash in history.

• One of the worst years ever for a 60/40 portfolio.

• Mortgage rates go from 3% to 8%.

• Everyone predicting a commercial real estate crisis.

• Evergrande/China real estate crisis.

• Government shutdowns.

• Debt ceiling stand-offs.

• U.S. credit rating downgrade.

• The Yen carry-trade unwind.

• Liberation Day tariffs.

• The Iran War.

• Oil/gas prices spike (again).

• 30-year Treasury yields move to the highest levels since 2007.

• Recession predictions every single year.

• Stagflation fears.

• 73 crash predictions from Robert Kiyosaki.

• 19 Michael Burry top calls.

• 10 straight years of worrying about stock market concentration.

https://awealthofcommonsense.com/2026/08/making-it-to-new-all-time-highs/

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2. We Haven’t Had a Recession Since 2009

Ben Carlson We haven’t had a real recession since 2009. These are the biggest drawdowns for the S&P 500 in that time:

• 2010: -16%

• 2011 -19%

• 2018: -20%

• 2020: -34%

• 2022: -25%

• 2025: -19%

Recessions are simply fewer and far between compared to the past:

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3. U.S. Tech Companies Far Outspend Chinese Rival in AI Buildout

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4. More than 150 Polymarket wallets may have traded on military secrets, research finds

By Douglas Gillison

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5. How Many Lawsuits is META Facing Right Now?

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6. Two Working Parents is the New Norm

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7. Real Estate Friday

1/3 of Middle Class Wealth in Real Estate.

Metro Areas with Largest Population Born Out of State.

Metro Area Where Millennials Own Homes.

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8. Most Educated Cities in America

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9. Is Your Nervous System the Missing Piece of Health? Doctor Hyman

10. 7 Things You Should Keep in Your Car-Marketwatch

Because almost anything can happen on the road. By Sam Staudt

1. A basic tool kit (wrenches, ratchets, sockets, and more)

2. A handheld multitool

3. A change of clothes, blankets, or a jacket

4. Tire inflator and repair kit

5. First-aid kit

6. Fire extinguisher

7. Jumper cables or battery jump pack

Bottom line

While there are hundreds, if not thousands, of other items you could keep on hand, these seven are what I would consider most important for a variety of scenarios you may encounter. As always, staying educated and prepared for the road ahead can pay dividends the next time you come across an emergency.

Visit KBB’s Car Maintenance and Repair Information Center for curated articles to help you make smart maintenance decisions with confidence.

This story originally ran on KBB.com.

https://www.marketwatch.com/story/7-things-you-should-always-keep-in-your-car-a2999454?mod=home_persfin

Warren Buffett Said 1 Career Plan Is Like ‘Saving Up Sex for Your Old Age.’ Here’s What He Meant—Inc.com

Buffett’s classic career advice is a reminder that building the perfect résumé means little if you keep postponing the work you actually want to do.

EXPERT OPINION BY MARCEL SCHWANTES, INC. CONTRIBUTING EDITOR, EXECUTIVE COACH, SPEAKER, AND AUTHOR @MARCELSCHWANTES

Too many people spend years building the perfect résumé for a future they may not even want. Warren Buffett’s advice is to stop postponing the work that matters.

There are times when delayed gratification is smart. Save money. Invest for the future. Develop your skills. Play the long game.

But there’s another kind of delay that can consume years of your life: putting off work you actually want to do because you’re busy constructing the career you think you’re supposed to have.

Warren Buffett once described the absurdity of that approach in a way only Warren Buffett could.

During a 2001 talk with students at the University of Georgia, Buffett recalled meeting a Harvard Business School student who had carefully engineered his career around creating a résumé that would impress.

The young man had attended the right schools, worked for the right companies, and was considering joining a prestigious management consulting firm—not because that was what he wanted to do, but because it would make his résumé look even better.

Buffett essentially asked him, “When are you going to start doing what you actually like?”

“Someday,” the student replied.

Buffett’s response was unforgettable:

“Your plan sounds to me a lot like saving up sex for your old age. It just doesn’t make a lot of sense.”

Funny? Absolutely. But underneath the punchline is a serious warning about how people can waste enormous chunks of their careers.

Career procrastination disguised as strategy

We like to believe careers unfold logically. We’re told by professional recruiters and mentors to take a job for three years and get promoted. Then, use that track record to move to the more prestigious company. Add another credential, get the executive title, build the network. You know the routine…

Then, eventually, do something meaningful.

The danger is that “eventually” can become a career strategy that holds you back.

You can spend years in a job that drains you because you convinced yourself it was merely the next stepping stone toward the position, company, income, or status you really wanted.

There’s nothing wrong with paying your dues or accepting a role because it will teach you something valuable. The problem comes when you repeatedly trade away the present for an imagined or ideal future. Five years becomes 10. Personal priorities and family obligations come into the picture. The destination keeps moving further into the future.

And sometimes you finally arrive only to discover that you spent years—maybe decades—climbing a ladder leaning against the wrong wall. That’s the deeper wisdom behind Buffett’s provocative analogy: You cannot indefinitely postpone the parts of life that make life worth living. That includes your work.

Stop saving your career for someday

This doesn’t mean quitting your job tomorrow to “follow your passion.” It means becoming much more intentional about what you’re trading your time for.

If you’re considering your next career move, I recommend that you ask yourself a few questions:

• Would I want this job if no one were impressed by the title or the company name?

• Will this role make me better at something that matters to me?

• Am I moving toward work I genuinely want—or merely building a résumé that looks successful to other people?

• What exactly am I waiting for before I give myself permission to do more meaningful work?

Those questions become increasingly important the further you advance in your career.

Buffett saw the flaw in the young Harvard student’s plan immediately. The student was treating the career he actually wanted as something he could store away for later. Always waiting for the good things means you might run out of time.

And that may be the real lesson behind one of Warren Buffett’s funniest pieces of career advice: Build for the future, certainly. Just don’t postpone living—and working—in the present to get there.

https://www.inc.com/marcel-schwantes/warren-buffett-said-one-career-plan-is-like-saving-up-sex-for-your-old-age-heres-what-he-meant/91392130?utm_source=newsletters&utm_medium=email&oly_enc_id=9218E7578789E9D

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Disclosure

Indices that may be included herein are unmanaged indices and one cannot directly invest in an index. Index returns do not reflect the impact of any management fees, transaction costs or expenses. The index information included herein is for illustrative purposes only.

Material for market review represents an assessment of the market environment at a specific point in time and is not intended to be a forecast of future events, or a guarantee of future results.
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