Mastering the Market Cycle | Howard Marks

THE LEGENDARY INVESTOR SHOWS YOU HOW TO IDENTIFY AND MASTER THE CYCLES THAT GOVERN THE MARKETS.

Howard Marks is one of the world’s leading value investors and founder of the legendary Oaktree Capital Management, famous for the letters he writes to his clients every quarter. Called “Memos from our Chairman,” they encompass his current view of the markets and his investment philosophy, and they inspired the book Mastering the Market Cycle. In it, Mark explains that if you study past cycles, understand their origins, and stay alert for the next one, you will become more closely attuned to the investment environment as it unfolds. You will be aware and prepared, while others are caught off guard by unexpected events or fall victim to emotions such as fear and greed.

But, after all, what are Market Cycles?

Market Cycles are periods in the financial market when certain investment options outperform other financial products. Confidence about where we are in a cycle comes when you learn the patterns of ups and downs that influence not only the economy, markets, and companies, but also human psychology and consequent investment behaviors. By following Marks’ insights, you can master these patterns for the opportunity to improve your results.