Mastering the Market Cycle: Getting the Odds on Your Side

A NEW YORK TIMES, WALL STREET JOURNAL, AND USA TODAY BESTSELLER

Named one of the Best Business Books of 2018 by Business Insider

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.

• What It Takes: Lessons in the Pursuit of Excellence
• A Man for All Markets: From Las Vegas to Wall Street, How I Beat the Dealer and the Market
• The Most Important Thing: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
• Big Debt Crises
• The Man Who Solved the Market: How Jim Simons Launched the Quant Revolution
• A Short History of Financial Euphoria (Penguin Business)
• The Little Book That Still Beats the Market
• The Most Important Thing Illuminated: Uncommon Sense for the Thoughtful Investor (Columbia Business School Publishing)
• The Alchemy of Finance
• Keeping At It: The Quest for Sound Money and Good Government