Mastering the Market Cycle

书名：Mastering the Market CycleGettingtheOddsonYourSide
作者：HowardMarks
译者：
ISBN：9781328479259
出版社：HoughtonMifflinHarcourt
出版时间：2018-10-2
格式：epub/mobi/azw3/pdf
页数：272
豆瓣评分： 8.0

书籍简介：

One of the most successful Wall Street investors of all time provides practical insight and keen analysis on how to track, and react to, the ups and downs of the stock market. Marks reveals the hidden logic in carefully pinpointing market trends so that every investor can profit. ”When I see memos from Howard Marks in my mail, they're the first thing I open and read. I always learn something.” –Warren Buffett Economies, companies, and markets operate according to patterns or cycles. These cycles arise from naturally occurring phenomena in everyday business, and to a large extent, from the simple ups and downs of human psychology and behavior. When should you pull out of the market? When should you stay in? These fundamental psychological influences–including greed and fear–can and do profoundly affect investors. If you carefully study past cycles, understand their origins and import, and remain alert for the next up or down cycle, you won't have to reinvent the wheel in order to understand every investment environment. And you're less likely to be blind-sided by unexpected events. By following Marks’s insights–which are drawn from his memorable memos to clients–you can master these recurring patterns for your own financial gain and psychological benefit.

作者简介：

霍华德·马克斯（Howard Marks）

橡树资本联席董事长及公司核心创始人之一。畅销书《投资最重要的事》作者。获得宾夕法尼亚大学沃顿商学院的经济学学士学位，后获得芝加哥大学工商管理硕士学位。也是特许金融分析师（CFA）。

作为世界优秀的价值投资者，自20世纪90年代初开始写投资备忘录寄予投资人。他的备忘录深受华尔街，包括他的好朋友、投资大师巴菲特先生推崇。巴菲特先生为他的第一本书《投资最重要的事》题词：“这是一本难得一见的好书。”

书友短评：

@ HELLO_THIS_IS Have subscibed Howard Marks's review for a long time. Spent 周期#3 写得像教科书 霍华德如老师一般在讲台上滔滔不绝 而我在台下忍不住开小差 但还是有收获的：1. 对于未来，要考虑多种可能性，有一个概率分布，但是要警惕即使有了概率分布，也无法预测接下来会发生什么。2. 对周期的理解有了更丰富的层次，以前只是看企业盈利周期、信贷周期这种定量的，今后也要洞察心理周期、风险态度周期这种定性的，人是造成周期存在的最重要因素之一。3. 在不同的周期位置，采取不同的投资态度和风险偏好，在大胆与谨慎之间切换，一个勇敢的人在特定环境下也要学会谨小甚微。4. 最重要的是，判断周期在哪个位置，在底部大胆买入什么资产，这是很难的两个问题，需要自己判断。 @ 逍遥子 阅读这类书不是学会解题套路，用于应对应试指南，考个高分。而是学会遇到同样的时刻，借鉴他人的经验教训，习的习惯与思维策略。集齐众家之所长为我所用！接下来借鉴Adam Tooze的作品。

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