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  • Mastering the Market Cycle

  • Getting the Odds on Your Side
  • By: Howard Marks
  • Narrated by: Howard Marks, LJ Ganser
  • Length: 9 hrs and 39 mins
  • 4.5 out of 5 stars (241 ratings)

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Summary

Understand and take advantage of the fluctuations of markets and come out ahead by learning when and where to invest your money. Economies, companies and markets operate in accordance with patterns which are influenced by naturally occurring events combined with human psychology and behaviour. The wisest investors learn to appreciate these rhythms and identify the best opportunities to take actions which will transform their finances for the better. 

This insightful, practical guide to understanding and responding to cycles - by a world-leading investor - is your key to unlocking a better and more privileged appreciation of how to make the markets work for you and make your money multiply.

PLEASE NOTE: When you purchase this title, the accompanying reference material will be available in your Library section along with the audio on our desktop site.

©2018 Howard Marks (P)2018 Audible, Inc

Critic reviews

"Studying what Howard says transcends the world of investing-it's really a study in clearer thinking. I hope you enjoy and learn as much as I did!" (Tim Ferriss) 

"Mastering the Market Cycle is a must-read." (Ray Dalio)

"When I see memos from Howard Marks in my mail, they're the first thing I open and read." (Warren Buffett)  

What listeners say about Mastering the Market Cycle

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    5 out of 5 stars
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Great rational perspective

great read! lovely perspective on how to remain rational and capitalise on the human induced cycles

2 people found this helpful

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Disappointing and repeats the same obvious points.

Talks about market cycles but lacks detail in how to spot where exactly we are in one!

1 person found this helpful

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  • LC
  • 31-01-19

Very useful guide to market cycles

I found this to be a valuable guide to market cycles, including practical checklists. Also an interesting and enjoyable listen.

1 person found this helpful

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Disappointing

An extraordinary amount of repetition from chapter to chapter, and I am not referring to the use of segments from his other book(s). Any good editor would have cut this in half.

He emphasises the importance of the credit cycle, which he acknowledges the average person would not be familiar with, but his treatment of any of that is shallow overall. Very little in the way of detail around specific measures and the illustration of their levels at particular points in time of the credit cycle. All too general to be of value. Was he afraid of giving Oaktree proprietary information away? Hardly. But then why bother writing the book?

For someone with a general knowledge of markets it does not add much.

This was my eight audible listen, and the style of the narration and perhaps the style of prose leaves your mind easily switching off, or tuning out. Not sleep inducing, but his cousin. The benefit for me of audible is to be able to listen while doing another activity such as exercise, but this one failed to hold my attention while doing other activities that did not require much cognitive function.

A problem with audible is the chapters are not titled bar a number, and in this one they are also one step out of synch, regardless of a fresh download.

You would probably get as much from one of his talks on a well known platform, as listening to this.



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A bit boring and repeats the same point throughout

A bit boring and repeats the same point throughout. After the first hour lost interest .. May use this as a sleep assistant book .

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Very repetitive, not very detailed

Very superficial and just a repetition of the same things over qnd over again but in a scholarly voice in order to sound important... key points could have been summed up in 5 minutes. You still need to fill his words with meaning since they are left open for interpretation - so for people who have experience already it is something they already know much better and for newbies it is not really helpful.

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Underwhelmed

Reluctantly, I am giving the book a negative review. It may have been due to my expectations having come across Mr. Marks' client letters. The book is not for a reader with a knowledge of and interest in cycles for investment purposes. Mr. Marks rarely departs from the most general terms in explaining his insights into various cycles. The result is anodyne, repetitive and on occasions clumsily expressed. Only on one occasion does Mr. Marks bring insight to a particular asset cycle from his experience at Oaktree. Surely, it is because of that industry shaping career, and the wealth of case studies it can draw upon, why anyone would choose to buy this book. Unfortunately, the content brings none of that to the reader. To avoid much repetition, the final chapter contains all the elements covered earlier in the book.

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Good but repetitive

The ideas on the cyclicality of financial markets and the economy are very useful but could have been a lot shorter by avoiding relentless repetition.

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Great book, could of been summed up a bit quicker

really enjoyed this. quite a lot of repitition of a few points. but very good

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Very Insightful

loved it. made with learn the importance of cycles and how to navigate them effectively.

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  • Steve Mabb
  • 19-02-21

Repetitive but important knowledge

Many of the points are repeated but it’s very good knowledge to have for an investing system.

1 person found this helpful

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  • Mr
  • 01-09-19

Few good points but repetitive

This conflicts most other investing advice that you can’t time the market. So I’m actually a bit more confused after reading this book. A good different perspective.

1 person found this helpful