We Study Billionaires - The Investor’s Podcast Network

TIP559: Mastering the Market Cycle by Howard Marks

Jun 16, 2023

57:25

Highlights

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Episode notes

The Limits to Negativism

01:20

Market Characteristics and Investing Strategies by Howard Marks

01:13

Using the Cyclical Nature of Investing to Find the Very Best Companies

01:23

Why Investors Are Emotional and How to Avoid Investment Swings

01:23

Introduction

3min

Why Study Cycles?

4min

The Nature of Cycles

2min

The Nature of Cycles

4min

The Regularity of Cycles

3min

The Economics of Growth

3min

Auto Comma: The Cyber Security Industry's Latest Game Changer

2min

The Importance of Short-Term Economic Cycles

3min

The Role of the Government in Economic Cycles

4min

10.

The Pendulum of Investor Psychology

1min

11.

The Pendulum and the Psychology of the Market

3min

12.

The Importance of Observing Your Investments Objectively

2min

13.

The Cycle in Attitudes Towards Risk

3min

14.

The Effects of Investor Attitude on Market Prices

2min

15.

The Great Financial Crisis

3min

16.

The Limits of Negativism

2min

17.

The Importance of Conviction in Investment Decisions

3min

18.

How to Invest in Real Estate

2min

19.

The Limits of Negatism

3min

20.

The Credit Cycle

3min

21.

The Credit Cycle and the Great Financial Crisis

2min

22.

The GFC: A Financial Phenomenon

4min

On today’s episode, Clay reviews Howard Marks’ book – Mastering the Market Cycle. This is a wonderful book for understanding market cycles and where we are at in the cycle at any given time. Most investors aren’t aware of the cyclicality of markets and are prone to fall victim to greed and fear at the exact wrong times. Superior investors are aware of markets cycles, and position themselves to profit from them.

IN THIS EPISODE YOU’LL LEARN:

00:00 - Intro.

03:32 - Why it’s important to understand market cycles to be a superior investor.

11:05 - What drives market cycles and why they exist.

23:14 - How to think about the economic cycle, and the governments role in managing the economic cycles.

30:53 - How to identify where we are at in a market cycle.

32:08 - Why the market’s mood resembles that of a pendulum swinging back and forth.

32:30 - Why cycles are inevitable, and will likely always be a key driver of markets into the future.

38:47 - What the greatest source of investment risk is.

58:03 - What Howard Marks learned from managing billions of dollars during the great financial crisis.

58:57 - Why the credit cycle is the most volatile of all cycles, and has the greatest impact on markets.

Disclaimer: Slight discrepancies in the timestamps may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Howard Marks’ book - Mastering the Market Cycle.
Check out our recent episode covering Clay’s review of Howard Marks’ book - The Most Important Thing, or watch the video here.
Check out our recent episode covering the 100 to 1 in the Stock Market by Thomas Phelps, or watch the video here.
Related episode: Listen to TIP378: Move Forward With Caution w/ Howard Marks or watch the video here.
Related episode: Listen to TIP545: The Third Sea Change Has Begun w/ Howard Marks or watch the video here.
Follow Clay on Twitter.

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We Study Billionaires - The Investor’s Podcast Network

TIP559: Mastering the Market Cycle by Howard Marks

The Limits to Negativism

Market Characteristics and Investing Strategies by Howard Marks

Using the Cyclical Nature of Investing to Find the Very Best Companies

Why Investors Are Emotional and How to Avoid Investment Swings

Get the Snipdpodcast app

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Discoverhighlights

Save anymoment

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