Markets2018
Mastering the Market Cycle
Howard Marks
Helps investors recognize credit, psychology, valuation, and risk cycles so they can adjust expectations instead of reacting emotionally.
FAQ
When should I read it?
When you need a clearer framework to place decisions in cycle context.
Can I copy it exactly?
No. Test its assumptions against your costs, taxes, legal setting, and risk capacity.
What should I do after reading?
Write three principles, one checklist, and one real decision to test.