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Mastering the Market Cycle

Getting the Odds on Your Side
Narrated by: LJ Ganser, Howard Marks
Length: 9 hrs and 39 mins
5 out of 5 stars (3 ratings)

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Summary

The legendary investor shows how to identify and master the cycles that govern the markets.  

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 results.  

Cover design by Mark R. Robinson.

PLEASE NOTE: When you purchase this title, the accompanying PDF will be available in your Audible Library along with the audio. 

©2018 Howard Marks (P)2018 Audible, Inc.

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  • Stevo
  • 04-11-18

Repetitive

Even though the main premise of the book will be useful to you, the content is way too repetitive. I would have given it 5 stars if this was a short one hour book packed with wisdom. In this format I had to abandon it couple of hours before it ended.

12 of 12 people found this review helpful

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  • Y. Jiang
  • 20-11-18

Too many repetitions

The content of the book is actually good, and I think Mr Marks just wants to stress his points, but it ends up appearing way too repetitive.
The points boils down to valuation / psychology.

4 of 4 people found this review helpful

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  • Amazon Customer
  • 01-11-18

Cycles : nothing new!

If your reading this book to understand cycles then move on. 1. Superficial history of the last 40 years in the market. 2. Buy at extreme lows. 3. Position your portfolio in a defensive posture at extreme highs. 3. Psychology is very important.
That’s it!! Also the author is very smart- went to great schools. Few interesting quotes. I learned nothing!!

24 of 28 people found this review helpful

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  • drshoe
  • 23-11-18

I was expecting more

Howard Marks kept repeating the concept of cycle over and over in this book. It's all common sense, really. He then listed out few anecdotes of how they perceived the bottom of the cycle in the past. Unfortunately, the whole book lacks substance and I really couldn't get much out of it. Everything he's been talking about is just common sense and he is not able to articulate the details of his execution strategies and how to handle different situations. This book should only be 1 hour long. Please skip this book and read Ray Dalio's new book "Big Debt Crises". The PDF version is FREE on his site.

6 of 7 people found this review helpful

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  • Rui
  • 06-03-19

ummm

it would have been good had he not said the exact same thing over and over and over again. other than that he's completely right oh, it totally makes sense.

2 of 2 people found this review helpful

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  • Marcus
  • 20-09-19

False advertising

A lot of platitudes with no practical advice of when and what to buy and sell at any point in the cycle

1 of 1 people found this review helpful

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  • Dianne
  • 14-02-19

Good but lacking

A lot of repetitivrness. No specific example of asset allocation in different economic regime. An example of other non-fundamental tool to gauge market sentiment, beyond p/e, p/s would be nice. 20% meat.

1 of 1 people found this review helpful

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  • Anonymous User
  • 22-12-18

The reader sounds like he's eating the whole time.

The information is good but the narrator has an annoying speaking voice. He talks like he's drooling over a peanut butter sandwich the entire time.

2 of 3 people found this review helpful

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  • Recession Proof Holdings, LLC (RPH)
  • 08-11-19

Economics 101 to 515

Excellent look into classical economics to Kainezion Economics. A lovely read, study and put into practice immediately.

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  • Christian T. Baker
  • 11-09-19

A great education in market cycles.

I’m a big fan of Howard and his interview on the Tim Ferriss show taught me more about investing than nearly anything I had listened to in a long time.
This audiobook is great and the narrator even manages to emulate Howard’s speaking style.
It is repetitive at times but that is good as these lessons require repeating to truly sink in.