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Exclusive | Situational Awareness Down 67% in July in AI Stock Rout WSJHis Wedding Guests Were Arriving—Just as His $45 Billion Fund Was Falling Apart WSJLeopold Aschenbrenner Built a Hot A.I. Hedge Fund. Then it Melted Down. The New York TimesHow Leopold Aschenbrenner built a $45 billion AI hedge fund — and lost most of it in days CNBC
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Trump says he'll revive ‘anti-weaponization' fund if Blanche's nomination for AG is blocked NBC NewsTrump Threatens to Revive $1.8 Billion Fund for Allies Over Blanche Standoff The New York TimesTrump's threat to push ahead on settlement fund injects new uncertainty into attorney general talks The Washington PostBrooks and Capehart on Blanche's stalled nomination and Trump's 'anti-weaponization fund' PBS
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Citadel's deal with Situational Awareness averts $3T AI selloff Seeking AlphaLeopold Aschenbrenner Built a Hot A.I. Hedge Fund. Then it Melted Down. The New York TimesExclusive | Citadel Buys Situational Awareness's Stock Portfolio After Big Losses in AI WSJGriffin's Knack for Sniffing Out Trouble Set to Reward Citadel Bloomberg.com
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Why did OpenAI's and Anthropic's AI models hack other companies? NPRInvestigating three real-world incidents in our cybersecurity evaluations AnthropicAnthropic's Claude AI escapes tests to hack three organisations bbc.comAnother bot from a top AI company escapes and hacks multiple firms Los Angeles TimesAnthropic Says Its A.I. Systems Broke Into Computers at 3 Organizations The New York Times
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Bessent and the Fed Help Japan Reverse Months of Yen Losses Bloomberg.comEXCLUSIVE: Bessent's 'to do' list: buy $5-10 billion worth of Japanese yen, Reuters photo shows ReutersUS Treasury undertakes historic intervention in yen market Financial TimesBessent ‘to-do' list shows proposal for US to buy $5bn-$10bn of Japanese yen The GuardianTreasury War
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In Dropping Reflecting Pool Case, Pirro Draws Trump's Wrath The New York TimesCharges Dropped Against Ex-Olympian David Hearn Accused of Damaging Reflecting Pool The New York TimesTrump blasts Pirro after she refutes his claim that Reflecting Pool was damaged by vandals KCCITrump's Reflecting Pool debacle takes a predictably scandalous turn CNN
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After two years of a red-hot market, it's time real estate and mortgage professionals get ready for what could be a slowdown in their business.
Earlier this summer housing prices were on fire. Now there is talk of a "housing recession." Due in part to higher mortgage rates and more people vacationing this summer, U.S. existing home sales fell in July for the sixth straight month, the longest streak of declines in more than eight years.
SEE MORE Is Your Job Burning You Out?
One of my clients in the Midwest put his home up for sale recently and has had no interested buyers - none. A few months ago, we were certain it would sell in days. The plan was to sell the house and pay off their construction loan on their new home before it converted to a permanent mortgage. Now, that plan may need to change.
Several mortgage companies have already let go thousands of employees, and one company, Sprout Mortgage, based in East Meadow, N.Y., shut down in early July. Real estate brokerage companies, such as Compass and Redfin, have also slashed their workforce.
Real estate is cyclical, and while sales will not totally dry up, anyone tied to the industry should get their finances in order now in case the current downturn lasts another several months.
Here are a few moves to consider:
Build an Emergency Fund Twice as Big as a Salaried Worker's
No one wants to get caught borrowing money to pay their bills. While putting away enough money in a savings or money market account to cover six months of expenses is normal, it's best to plan for a longer period if you work in a cyclical industry.
Consider keeping six to 12 months of r
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