In this conversation, Kathy and Liz Ann discuss quotes and sayings from industry legends that have resonated with them over the years. You can read Liz Ann's article about her reminiscences in the industry and watch the clip of Marty Zweig calling the crash of ’87 on YouTube.

Kathy and Liz Ann also talk about the Federal Reserve's annual conference at Jackson Hole, Wyoming, and why the economic symposium takes place there. Then, they dig into the Bureau of Labor Statistics' benchmark revisions to the annual payroll data and the market's reaction to the revised numbers. They agree that it's unlikely the Fed will cut 50 basis points in September.

Finally, Kathy and Liz Ann provide their outlook for the next week's economic data and market events.

On Investing is an original podcast from Charles Schwab. For more on the show, visit schwab.com/OnInvesting.

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The information provided here is for general informational purposes only and should not be considered an individualized recommendation or personalized investment advice. The investment strategies mentioned here may not be suitable for everyone. Each investor needs to review an investment strategy for his or her own particular situation before making any investment decision.

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Examples provided are for illustrative purposes only and not intended to be reflective of results you can expect to achieve.

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Forecasts contained herein are for illustrative purposes only, may be based upon proprietary research and are developed through analysis of historical public data.

The books Reminiscences of a Stock Operator, Market Wizards, Random Walk Down Wall Street, The Money Game, Extraordinary Popular Delusions and The Madness of Crowds, and Against the Gods are not affiliated with, sponsored by, or endorsed by Charles Schwab & Co., Inc. (CS&Co.). Schwab has not reviewed the books and makes no representations about their content.

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