Mastering The Market Cycle
Getting the odds on your side
Published on 23. January 2020
Book
Paperback/Softback
336 pages
978-1-4736-9568-9 (ISBN)
Description
A NEW YORK TIMES, WALL STREET JOURNAL, AND USA TODAY BESTSELLER
The legendary investor shows how to identify and master the cycles that govern the financial markets.
"A MUST-READ" Ray Dalio, bestselling author of Principles and Co-Chief Investment Officer and Co-Chairman, Bridgewater Associates
"WHEN I SEE MEMOS FROM HOWARD MARKS IN MY MAIL, THEY'RE THE FIRST THING I OPEN AND READ" Warren Buffett
"HOWARD IS A LEGENDARY INVESTOR" Tony Robbins
We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets, and companies, but also human psychology and the investing behaviors that result.
If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You'll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed.
By following Marks's insights - drawn in part from his iconic memos over the years to Oaktree's clients - you can master these recurring patterns to have the opportunity to improve your investing results.
SEE WHAT REVIEWERS ARE SAYING ABOUT MASTERING THE MARKET CYCLE:
????? "This book lays the timeless fundamentals for investment success"
????? "A must-read"
????? "Excellent book on cycles and psychology"
The legendary investor shows how to identify and master the cycles that govern the financial markets.
"A MUST-READ" Ray Dalio, bestselling author of Principles and Co-Chief Investment Officer and Co-Chairman, Bridgewater Associates
"WHEN I SEE MEMOS FROM HOWARD MARKS IN MY MAIL, THEY'RE THE FIRST THING I OPEN AND READ" Warren Buffett
"HOWARD IS A LEGENDARY INVESTOR" Tony Robbins
We all know markets rise and fall, but when should you pull out, and when should you stay in? The answer is never black or white, but is best reached through a keen understanding of the reasons behind the rhythm of cycles. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not just economics, markets, and companies, but also human psychology and the investing behaviors that result.
If you study past cycles, understand their origins and remain alert for the next one, you will become keenly attuned to the investment environment as it changes. You'll be aware and prepared while others get blindsided by unexpected events or fall victim to emotions like fear and greed.
By following Marks's insights - drawn in part from his iconic memos over the years to Oaktree's clients - you can master these recurring patterns to have the opportunity to improve your investing results.
SEE WHAT REVIEWERS ARE SAYING ABOUT MASTERING THE MARKET CYCLE:
????? "This book lays the timeless fundamentals for investment success"
????? "A must-read"
????? "Excellent book on cycles and psychology"
Reviews / Votes
Mastering the Market Cycle is a must-read -- Ray Dalio, author of 'Principles' Howard Marks's Mastering the Market Cycle is a must-read, because the cycles covered in this book are important and because Howard is one of the investing greats of his generation. -- Ray Dalio, Co-Chief Investment Officer and Co-Chairman, Bridgewater Associates, author of Principles I always say, 'There's no better teacher than history in determining the future.' Howard's book tells us how to learn from history . . . and thus get a better idea of what the future holds. -- Charlie Munger, Vice Chairman, Berkshire Hathaway Howard Marks, among the world's most successful investment managers as well as an intellectual leader of the profession [has written a new book]. Mastering the Market Cycle is...wise...A careful reading can make us better investors and protect us from the all too frequent errors that ruin investment results. * Wall Street Journal * While most investment professionals take the standard out - that 'you can't time the market' - in Mastering the Market Cycle Howard Marks, a living investment legend, takes the contrarian point of view that not only can you time markets, but it's imperative that you do so. -- Bill Gurley, General Partner, Benchmark Mastering the Market Cycle reveals how cycles not only coincide with, but also cause, financial market risk and opportunity. Written in plain English, Howard Marks's hard-earned wisdom will help readers tilt the odds in their favor. -- Jeffrey Gundlach, Founder, DoubleLine Capital If you're uncertain as to whether there will be a correction in the market - or if you think there's no reason to worry because 'it's different this time' - you have to read this book before you make a move. -- Carl C. Icahn, Chairman, Icahn EnterprisesMore details
Language
English
Place of publication
United States
Publishing group
John Murray Press
Target group
Professional and scholarly
Dimensions
Height: 213 mm
Width: 133 mm
Thickness: 26 mm
Weight
336 gr
ISBN-13
978-1-4736-9568-9 (9781473695689)
Copyright in bibliographic data and cover images is held by Nielsen Book Services Limited or by the publishers or by their respective licensors: all rights reserved.
Schweitzer Classification
Other editions
Additional editions
E-Book
10/2018
1st Edition
John Murray Business
€4.49
Available for download
Person
Howard Marks is co-chairman and cofounder of Oaktree Capital Management, a Los Angeles-based investment firm with $100 billion under management. He holds a bachelor's degree in finance from the Wharton School and an MBA in accounting and marketing from the University of Chicago. In the 2015 Forbes rankings, Marks was ranked the #338 richest person in the United States
Oaktree Capital Management is a leading global alternative investment management firm with particular expertise in credit strategies. The firm was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high yield bonds, convertible securities, distressed debt, real estate and control investments. Today, Oaktree comprises over 900 employees in Los Angeles (headquarters), New York, Stamford, Houston, London, Paris, Frankfurt, Amsterdam*, Dublin*, Luxembourg*, Dubai, Hong Kong, Tokyo, Singapore, Seoul, Beijing, Shanghai and Sydney. It has 31 portfolio managers with average experience of 23 years and over 700 years of combined investment experience. Among Oaktree's global clients are 75 of the 100 largest U.S. pension plans, over 400 corporations around the world, over 350 endowments and foundations globally, 16 sovereign wealth funds and 38 of the 50 primary state retirement plans in the United States.
Oaktree Capital Management is a leading global alternative investment management firm with particular expertise in credit strategies. The firm was formed in 1995 by a group of individuals who had been investing together since the mid-1980s in high yield bonds, convertible securities, distressed debt, real estate and control investments. Today, Oaktree comprises over 900 employees in Los Angeles (headquarters), New York, Stamford, Houston, London, Paris, Frankfurt, Amsterdam*, Dublin*, Luxembourg*, Dubai, Hong Kong, Tokyo, Singapore, Seoul, Beijing, Shanghai and Sydney. It has 31 portfolio managers with average experience of 23 years and over 700 years of combined investment experience. Among Oaktree's global clients are 75 of the 100 largest U.S. pension plans, over 400 corporations around the world, over 350 endowments and foundations globally, 16 sovereign wealth funds and 38 of the 50 primary state retirement plans in the United States.