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.
##"The most important things" is much better than this. Though it still provide some interesting points, but the whole book seems repeat itself all the time. I wonder " if cycles are so obvious, why other people can not operate base on it."
評分##"The most important things" is much better than this. Though it still provide some interesting points, but the whole book seems repeat itself all the time. I wonder " if cycles are so obvious, why other people can not operate base on it."
評分##Audible初體驗,贊亞馬遜!聽書容易走神,不好follow. 比較適閤休閑,睡覺前聽一會兒。第一遍聽完,還需要再聽幾遍,因為有時候聽著聽著就睡著瞭。Cycle matters. 周期就是“勢”。順勢而為,銳不可當;逆勢而動,萬劫不復。
評分##豆瓣上的人完全不理解這本書的價值。男神主要在告訴大傢如何避免追高殺跌的散戶心理,以及貨幣周期和心理是一切周期的罪魁禍首。超越市場的核心不是買好資産,而是好價格,信貸市場完全關閉時,所有人都極度悲觀隻看到風險時,往往是最好的買入時機。
評分##Audible初體驗,贊亞馬遜!聽書容易走神,不好follow. 比較適閤休閑,睡覺前聽一會兒。第一遍聽完,還需要再聽幾遍,因為有時候聽著聽著就睡著瞭。Cycle matters. 周期就是“勢”。順勢而為,銳不可當;逆勢而動,萬劫不復。
評分##一點都不覺得水,和the most important thing 一起讀的,適閤初入股市的新手,先把價值觀清洗下,不求牛市賺大錢但求不虧損,注意風險風險風險,謹慎謹慎再謹慎。
評分##挺囉嗦的,有趣的點在最後幾章。
評分##豆瓣上的人完全不理解這本書的價值。男神主要在告訴大傢如何避免追高殺跌的散戶心理,以及貨幣周期和心理是一切周期的罪魁禍首。超越市場的核心不是買好資産,而是好價格,信貸市場完全關閉時,所有人都極度悲觀隻看到風險時,往往是最好的買入時機。
評分##太陽底下無新鮮事。謹慎判斷,預估風險。
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