This episode marks Kathy Jones' farewell as co-host of On Investing. Collin Martin, Schwab's head of fixed income research, takes over as co-host starting on March 20.

As Kathy prepares for retirement after a decades-long career in finance, she reflects back on some of the most important lessons she learned throughout her career. She recounts how she started out as a runner at the Chicago Board of Trade before moving into research. Some of her core investing lessons from 50 years in markets include: The trend is your friend, don't marry your investments, and understand risk management.

Then, in light of recent military action in Iran, Kathy and Liz Ann also discuss the state of geopolitical risk and its market implications.

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

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A Career in Investing: Kathy Jones' Parting Thoughts on the Markets