Howard Marks: Mastering the Market Cycle

4 key learnings from a genuine master of the craft

Black and white image of planets in space
Black and white image of planets in space
Photo by Gemma Evans on Unsplash
Log values of the S&P 500 Index since 1930 showing long-term secular cycles
Log values of the S&P 500 Index since 1930 showing long-term secular cycles
Source: Yahoo! Finance

1. Timing is in fact everything

2. Cycles are conceptually simple but incredibly difficult to manage in practice

3. If taking a view feels comfortable, it’s likely not a contrarian view

4. Successful investors should publish more

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Writer and analyst based in Melbourne, Australia. Investing, markets, politics, history of economic thought. More at: https://www.gordontoy.com/

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