Howard Marks' Lesson for Wartime Markets: Brent Above $91 and the UAE's Break With Iran, Explained for Tehran's Bourse (Wednesday, August 19, 2026)

Brent crude just topped ninety one dollars, and Howard Marks has one big lesson for days like this. You can't predict the future, but you can prepare for it. On Wednesday, August nineteenth, the UAE suspended trade and financial ties with Iran. Brent crude reached ninety one dollars and forty three cents today, up zero point four three percent. Let's look at Tehran's main index, the free dollar, world gold, and the S and P five hundred. Tension in the Strait of Hormuz has spiked repeatedly over the past several weeks. Even so, Tehran's main index has climbed nearly seven percent in the last ten sessions. None of these three paths is certain; the point is to be prepared, not to guess. A stronger dollar lifts export revenue, but it also raises the cost of imports. Here's a quick look at how the war reaches Tehran's stock market. The Federal Reserve held rates steady, but three members wanted to raise them instead. Howard Marks' lesson is this: the quality of your preparation matters more than guessing the future. Stress test your portfolio against all three scenarios, and avoid big decisions in moments of panic. Despite the war, Tehran's index is up nearly seven percent in ten days; prepare, don't predict. Read the full analysis on Sahmino dot com; how ready are you for all three scenarios?