AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
3min chapter
TIP559: Mastering the Market Cycle by Howard Marks
We Study Billionaires - The Investor’s Podcast Network
The Economics of Growth
The economic cycle also known as the business cycle provides much of the foundation for cyclical events in the business world and the markets. Marx recognizes that he's seen his story play out before and knows to be more defensive when people have become too euphoric. When thinking about economic growth, we mainly want to consider what are the long term secular trends rather than the oscillations around those trends. In January of 2009, Howard wrote a memo titled The Long View where he outlined that security markets have risen over the previous decades due to a number of factors including the macro environment,. corporate growth, the borrowing mentality of consumers, the popularization of investing as well as investor psychology.
00:00
Transcript
Episode notes
Get the Snipd
podcast app
Unlock the knowledge in podcasts with the podcast player of the future.
AI-powered
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode
Save any
moment
Hear something you like? Tap your headphones to save it with AI-generated key takeaways
Share
& Export
Send highlights to Twitter, WhatsApp or export them to Notion, Readwise & more
AI-powered
podcast player
Listen to all your favourite podcasts with AI-powered features
Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode