3min chapter

We Study Billionaires - The Investor’s Podcast Network cover image

TIP559: Mastering the Market Cycle by Howard Marks

We Study Billionaires - The Investor’s Podcast Network

CHAPTER

The Regularity of Cycles

Marks: Cycles are driven by human psychology, and as many of us know, human psychology is not entirely predictable. In markets, cycles play out in a somewhat random fashion and they aren't entirely predictable. A company may release positive earnings for the quarter, but whether the stock rises or falls may be a result of its competitors' results,. The central banks are doing at that time, or what the overall market is doing too.

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