Mastering The Market Cycle
Getting the odds on your side
By Howard Marks
Understand and take advantage of the fluctuations of markets and come out ahead by learning when and where to invest your money.
"Mastering the Market Cycle is a must-read" Ray Dalio
"When I see memos from Howard Marks in my mail, they're the first thing I open and read" Warren Buffett
Economies, companies and markets operate in accordance with patterns which are influenced by naturally occurring events combined with human psychology and behaviour. The wisest investors learn to appreciate these rhythms and identify the best opportunities to take actions which will transform their finances for the better. This insightful, practical guide to understanding and responding to cycles - by a world-leading investor - is your key to unlocking a better and more privileged appreciation of how to make the markets work for you and make your money multiply.
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.
- Other details
- Publication date:
04 Oct 2018
- Page count:
Nicholas Brealey Publishing
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
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 Enterprises