MASTERING THE MARKET CYCLE (BY HOWARD MARKS)

Support the channel by getting Mastering the Market Cycle by Howard Marks here: amzn.to/2OdyAqO
As an Amazon Associate I earn from qualified purchases.
In this video I will present the top 5 takeaways from Mastering the Market Cycle, a book on how to optimize your investment portfolio, by the famous investor and manager of the Oaktree Capital asset management firm, Howard Marks.
Top 5 Takeaways from The Most Important Thing (by Howard Marks): bit.ly/2QOANKP
Top 5 takeaways of Master the Market Cycle by Howard Marks:
0:00 Intro
00:07 5. "Tendencies"
03:51 4. Introducing: Cycles
07:06 3. What influences a market cycle?
11:01 2. Taking the temperature of the market
13:00 1. Aggressiveness vs Defensiveness
My goal with this channel is to help you make more money and improve your personal finances. How to become a millionaire? There are many ways to get there - investing in the stock market, becoming a stock trader, doing real estate investing, or why not becoming an entrepreneur? But whether you are interested in how to invest in stocks or investing strategies for creating passive income with rental properties - I hope to be able to provide you with a solution (or at least an idea) here. Warren Buffett - the greatest investor of our time - says that you should fill your mind with competing ideas and then see what makes sense to you. This channel is about filling your mind with those ideas. And in the process - upgrading your money-making toolbox.

[@TheSwedishInvestor]

More of “The Most Important Things” in stock market investing: bit.ly/2QOANKP

[@janshuster1426]

You should do a summary of Robert Lichello's book How to make $1,000,000 in the stock market automatically. Best investing book I ever read.

[@quicksandd]

Worth subscribing to this channel but a bit too many commercials

[@fikilegroening7222]

Hi how are you lm fine the swedish investor

[@dentalcrowninanhour]

📳

[@nateriver5895]

You are a genious

[@mr100x3]

Channels way underrated, we appreciate your work.

[@rickmartin3053]

This is so true

[@My2hours]

He is climbing his way up ☝️

[@suyogpatil2297]

This is the most undervalued channel! If it was a stock i would have heavily invested in it😉

[@TheSwedishInvestor]

Haha, I appreciate it Suyog Patil! I hope I'll be able to live up to that hype by producing more valuable content for you here in the future 😊

[@ghostgutarist5234]

yep, cause it is educatinal, and u know how interested people are to learn. Good for people who learn.

[@CST1992]

@@TheSwedishInvestor Do you take donations? I'd love to pay you back some for the value you create for the community!

[@dennismorris7573]

Another great analysis summary, so charmingly created and presented by the Swedish Investor.

[@annay9849]

I'm so glad I found your channel! There are so many useful books around and I absolutely don't have time to read them all. Your summaries allow me to get at least a basic idea of what the main points of the book are and I can benefit from them within 15 mins, rather than spending considerably more time trying to read the whole book. Thank you so much for your great work!

[@cassandrawid9953]

Helt otroliga videor! Så lätta att förstå och det sätter sig som betong på 15 minuter, eftersom jag är en visuell inlärare. Helt magiskt att du tagit dig tiden att skapa sånt här värde och dela med dig. Tack snälla!!!! Guld är du

[@charlesnorvow]

Great video to explain wealth cycle and how to estimate when to switch the asset class! Thanks for your contribution. Big thumbs up!

[@sekytwo]

loving your videos bro! excellent quality stuff!! keep em coming.

[@reillycoetzee3766]

I think this is the best one I've watched yet, thanks for the great quality content!

[@kaushiknarayanan.c1678]

Subscribed your channel right away! Glad, I got to know about your channel. Keep up the good work🥳

[@juanfernandez3633]

instant classic and a must read.. its on my favorite shelf

[@GenExDividendInvestor]

(commenting as I watch)... One of the lessons I learned long ago was that if you invest in quality, you should just keep holding it. There will be ups and downs, but overtime quality keeps trending up... I liked the aggressiveness vs defensiveness comments if you are a trader.. Though my personal strategy is primarily to buy and hold quality dividend companies, regardless of market conditions.

[@TheSwedishInvestor]

Agreed. Different investors have different approaches to this, and apparently, they can all be successful. Howard Marks has achieved major success using this approach, Buffett has achieved major success without analyzing the cycle specifically. Buffett is still being aggressive at times and defensive at other times just as Howard suggests, but his approach is much more indirect (if there are no great companies at fair prices in the market, he waits on the sidelines).

[@theanimatedengineer2072]

Hello swedish investor. You do a great job summarizing the books you have covered on this channel. I have read a lot of these books, i can appreciate its difficult to capture all the learnings, but you come very close. Again, great work.

[@rosskline]

I'm a wealth manager and this is an excellent explanation! Great video.

[@1Akanan1]

''Brian finds 22.9 P/E in excessive territory'', 22.9 sounds pretty cheap to me today when I look at what's available :D

[@abhijitkhialani]

Very well explained...thanks again..keep up the good work..

[@k.6160]

This was a really good video! So much information! ❤️👏👏 Thank you!

[@jamesgroomes1812]

the audio book the end of alchemy was awesome on central banking i listened to it maybe five times sofar. Its neat.

[@mosoixx8509]

Thank you for this great video! 😊🙏🏾

[@jeffscarrott2603]

Thanks so much for all the time you put into this. Invaluable channel for the worlds investing community. Once you get really popular you should move all these videos to your own site and charge a premium for people access them.

[@mellenndomanais]

Thanks for this summary! Will definitely add this to my list of books to read

[@ralphdsouza9987]

Gratitude for your efforts! Your channel is amazing!

[@hobowithagun24]

This is needed right now. We are approaching the end of a business cycle

[@deepakbhoria4172]

So lucky to find your channel. You deserve way many subscribers... keep up the good work, many will follow :)

[@TheSwedishInvestor]

Cheers Deepak Bhoria, I appreciate your support! I'm quite flattered by the number of people who have subscribed up until this point I have to say. I certainly didn't expect it when I started this channel!

[@krisnasuryana]

The best book that everyone should really read Thank you so much for the summary

[@jayhay1237]

Common investment rules shattered by increasing your knowledge. Great review of how to follow the most fundamental rule to buy low and sell high. "Don't time the market!" the beginners shout. Ask yourself: how can I buy low and sell high without proper timing? "Asking that question is the first step, grasshopper..."

[@TheSwedishInvestor]

Cheers Jay! The legendary investors all had/have their techniques for timing the markets, although some did/do it (like Buffett) only by looking at individual stocks, pretty much ignoring the market overall

[@panchasanguparakalarajan8948]

Thank you sir for sharing this.

[@payaljoshi4001]

Keep posting such knowledge. Thanks a lot. 🙏

[@SneezyHound]

Marks' books are great - and this summary is excellent!

[@TheSwedishInvestor]

Thank you for your support M.C. 😁👍

[@hou-fuking502]

@@TheSwedishInvestor Dear Sir, thank you for your excellent summaries. May I suggest two other books? 1)The Little Book of Bull Moves in Bear Market. 2) The Little Book of Bull's Eye Investing?

[@drjems]

Superb... Kindly make video on definitive guide to position sizing

[@Luc9Nine]

damn, this is great content. one of the best channels i have seen

[@murugnimai]

Very nicely explained.. thank you

[@jamesstephen1516]

Thank you for your review

[@ghostgutarist5234]

I love the Content. Invealuable

[@ds5875]

I love your channel. Can you turn these into podcasts so I can listen whilst at work?

[@robertmelvin7908]

Awesome video, I couldn't wait to send out the link to friends. I love the graphics and the simplicity. This was a great intro that should be taught at all levels of schooling. I need to check out the book to see if it goes into more detail beyond the bear - bull market and into this uncertainty period or resistance - breakout phase. Most investing firms still see a recession in the future, but that's simple a another cycle; more driven by the new media and panic than ... sorry for the rant.

[@TheSwedishInvestor]

Thank you Robert Melvin! 🙌 I definitely think that the book is worth a read, it goes into much greater detail about some of the points, and it also covers many takeaways that I couldn't fit in the video, like the best traits to become a successful investor, what a superior investment philosophy needs etc.

[@jessew8568]

Thanks you review a lot of good books that I wouldn't have ever found.

[@parimalshinde4823]

Too good way explained.. Thanking you

[@husseinsoliman8714]

Wow.👌🏼 amazing content plz keep providing more and more

[@macka534]

10:05 only for short-termed swings

[@saumilparikh6349]

You are doing great job

[@creativecontent5173]

thank you

[@recoverfromdrawdowns1272]

Great video, thanks for sharing your expertise.

[@TheSwedishInvestor]

Cheers! 😁

[@JGML8]

¡Gracias!

[@HansSchwarz0130]

This channel is a gem! You should definitely do some advertising and I am sure you will attract many people

[@eventhatsme]

Thanks for making all of these interesting videos! Could you clarify a little on the "taking the temperature" part of the video: The P/E for S&P 500 has been above the median or mean ever since about 2012 based on this criteria. Would this imply that you should have chosen the "defensive portfolio" all this time?

[@st0a]

Brian is a very clever polar bear 🐻‍❄💸

[@evaristegalois8600]

Can you make a video about alchemy of finance by soros?

[@blackmagick77]

Does that real estate guru have a book? That comment of his has gotten my interest. I couldnt figure out how these companies get all this money to do what they need to do.

[@cory99998]

I like how he says that evaluating highs / lows isn't scientific since then it wouldn't be profitable. That's exactly what draws me to being a game designer since the puzzle / challenge of figuring out complicated problems via critical thinking and intuition is extremely compelling to me. Because it's so difficult to do, it's extremely rewarding when you can do it better than everyone else. Mentally and monetarily.

[@sonny199]

Best channel ever

[@ariyanpal4387]

Thanks Man

[@thejuhp2912]

great summary , i am searching for trading in zone please make it available

[@octavio-blues-sound3022]

Hey Swedish Investor... You do really fine work... Could be at your hand to make the "Stock Market Investing for Beginners and Dummies" and/or "Dividend Investing for Dummies" by Giovanni Rigters??? I'll thank you anyway... Have a nice 2021...!!!

[@tyronlachica6362]

thanks mate!

[@TheSwedishInvestor]

Cheers!

[@teck6492]

Great video!

[@sergeydimitrov2806]

Love your vids!!

[@TheSwedishInvestor]

Cheers Segey Dimitrov! Love the support!

[@OGSmoke49]

If you don’t have the book go invest in it now it’s great 👍🏽

[@wetradewaves]

Great video, Keep it up!

[@TheSwedishInvestor]

Happy to hear it man! Cheers! 😁

[@FYPNLP]

That was awesome 🙂

[@papabear4066]

Nice explanation

[@multibaggerswings]

Great 👌

[@LetsbeYannis]

Great work and content.Visited Sweden last year and i am really curious of how the stock market works over there and what brokers you use etc you should to a video with your favorite companies or Swedish portfolio and what the differences are with American investing. Do these books correlate with how the system works there etc. Thanks

[@TheSwedishInvestor]

Thank you for your suggestion & support John K! I will make some type of video on my portfolio in the future, but it is not planned in the near-term. Anyhow, stay tuned :)

[@CapitalWorksPro]

Probability plays out closer to its expectations in larger sample sizes. The more days you add to your stock holdings, the more likely it is that the scenario you've deemed likely, is to come true. This is assuming that you're valuing the company correctly.

[@sarthakkgangwani762]

Thank you-Your biggest admirer.😀

[@TheSwedishInvestor]

Cheers Sarthakk Gangwani! Thankful for your support!

[@bth2012]

THX

[@victorq5309]

For the ones who like to hold for a while. Just follow quarters or semesters, retracemenrs are discount of those cycles.

[@JKillen]

I’m literally Brian right now. I sold on some swings that were profitable ten days later. Worst thing was, it swung based on the tendency we bet on. Feeling super dejected. And not sure to jump back in or not

[@josevega8080]

Awesome videos

[@chulangaaverilhettiarachch3267]

To the person reading this: Even though I don’t know you, I wish you the best of what life has to offer ❤

[@jahouser6273]

Thank you, blessings to you

[@salongkunchudyangmoo2667]

Wish you the same!

[@CompoundBrown]

Same to u. And thanks for the love ❤️

[@AcesizOfficial]

Gems 💎

[@euginsa]

It would be great if the idea of book is sumup

[@NetanelColish]

ty

[@ZxZ239]

Where do you find that community sentiment table on the website

[@MattCommins]

Awesome video! I wonder if there's any coincidence why this book was chosen right now? 🤔😋

[@TheSwedishInvestor]

Cheers Matt Commins! 😁

[@butch28butch28]

Are you selling this book summaries as PDF? I would buy it for 5-10 usd.

[@brunomanco7529]

U need to review robert shiller irrational exuberance

[@m.johnmorency4230]

Can an investor can an investor use the macroeconomic formula instead of the GDP = Number of hours worked X Productivity per hour formula ?

[@sangeetabadekar3940]

You can take video on money mindset

[@jensgustafsson5255]

Nice

[@muffemod]

PE 40+ baby!

[@edwardteach2]

For the chart: how is the investing community acting. What does that mean if you get a mix from both sides? Or they breakeven with 50% on the left & 50% on the right?

[@TheSwedishInvestor]

Great question. If it is quite even, the market is not excessively high nor excessively low. There's no tendency for a movement in either direction in that case 👍 Please note that you can find the original version of the list from Howard Marks here: www.oaktreecapital.com/docs/default-source/memos/2006-03-27-it-is-what-it-is.pdf?sfvrsn=2 (the list is a bit more extensive than I presented it in the video)

[@COOLDUDE090]

Bro you are a legend, keep it up

[@TheSwedishInvestor]

Thank you man, I appreciate the support!

[@InvestingEducation]

Like reading abt the experiences and wisdom of seasoned investors.

[@christophera2606]

I feel exactly like Brian

[@Bannanakick]

SUBBED

[@sarthakkgangwani762]

Please summarise buffetology.(book)

[@sarthakkgangwani762]

@Mr. 8-Bit Doggo I don't know the answer to that.

[@flynndota1179]

Good cideo

[@f3nt0]

Brian is timing the market, right?

[@rowanwood5397]

the date today is november 13, 2020. DJIA is at 29,479, near an all time high. stocks have relatively "astronomically high" valuations. it seems like the we are at the peak boom of a market cycle. but, the fed has stopped the downturn from occurring. the fed has broken the market cycle. or is this a question: has the fed broken the market cycle or will we see the normal return to mean level soon?

[@sarthakkgangwani762]

Hi I am a big fan of yours from India of age14 and just want to thank you for the knowledge you have given me. If I someday become the next Benjamin Graham I will surely mention you in foreword of my book as my guru along with various other people.Also I didn't quite understand the book summary of security analysis that good. And any recommendations for me as a future investor?? And how to do fundamental analysis of a company and please explain terms like pe ratio ,ebit etc.👍👍😀😀

[@TheSwedishInvestor]

I'm happy to hear that the content on the channel has been valuable to you Sarthakk Gangwani. Also, it is awesome that you start at such an early age, you truly have a great opportunity to have compound interest working in your favor. I cannot explain in one comment what you are asking for, but I will give some general advice: - Read and learn as much as you can (about investing in general) - Start to investigate strong companies. It's important to build up a data-base of possible opportunities in your mind early - Do not listen to specific investing advice, pick your own stocks - Really go out of your way to gather that starting capital - Make mistakes early. Small portfolio = manageable mistakes, large portfolio = potentially devastating mistakes

[@sarthakkgangwani762]

@@TheSwedishInvestor but in India you're not allowed to trade until 18 years as you need something called PAN to make demat account,which is only for adults

[@juanfernandez3633]

currently reading this book.. about halfway.. better than his other book. still a bit of a dry read.

[@tomyshaw1594]

I would not recommend trying to time the market, buy, and hold would be the best strategy for the average investor. Markets can stay irrational longer than you can stay solvent. Timing requires that you take on a lot of stress focusing on a few stocks. One of the number one rule in investing diversifying is more important than timing the market.

[@SimpleAbundance]

When trading you have to be right twice. This detours most traders into investing once you explain it to them.

[@benzpinto]

i wonder where we are in the market today?

[@BluesyBor]

Aaaaaand then it turns out he's the Bad Luck Brian! Great vid, stresses a few years of my education into 15 minutes. :D

[@TheSwedishInvestor]

Haha I’m happy to hear that you though it was an educative 15 minutes BluesyBor 😁 (or perhaps a lengthy education ..? 😉)

[@piotrpp5478]

Expected payout of bag A is 1500, not 500?

[@dudewheresmyguitar21]

Cept you cant really tell where were at right now, the beginning of a downtrend or at the bottom, nobody knows. Definitely a risk off enviorment so wouldnt be crazy risky here but who knows if this is the start of a dip of the end

[@lexlevi1]

I’m mad this video doesn’t have 10 billion views because ppl don’t realize this at all

[@Jackson_heights94]

🙏

[@my5cent264]

great video as always.. in my opinion, if one able to master the market, you would assume that person to share the knowledge? probably yes, to manipulate the herds to achieve the so called prediction. whether the market on bull or bear, crash or on steroid, it is always driven by the investor emotion. stay calm and invest logically not emotionally

[@TheSwedishInvestor]

Cheers My50Cent 🙌 I guess someone could share the information about mastering the market because he feels like he has beaten that game in life already, and wants to move on to other endeavors (teaching, becoming an author etc)

[@cory99998]

Mastering the market isn't really the difficult part imo, the harder problem is understanding the stocks you want to invest in. Understanding the cycle seems kind of "trivial" in the sense that no one can actually predict it, rather you just learn how to adjust your portfolios risk in relation to what direction the market is headed. For example we know that a recession is on the horizon but it's hard to say if that's happening right now or if it's going to work itself out and hold out a bit longer. So you probably don't want to sell all of your stock in hopes that the market tanks, rather you spread your portfolio out so that if it does crash you wont take major losses. Trade-off is that your potential gains are lowered quite a bit and it's possible that the stock doesn't actually crash and you kind of stagnate. But even so, this puts you ahead of everyone else and in the long run you'll get good returns anyways. I don't actually know tons about all of this so take that with a grain of salt but my real takeaway is that no one can accurately predict the market exactly but the people who succeed are good at mitigating risk when the time is appropriate. Even then people make mistakes, like Warren Buffet who lost a bit of money last march (I think?) since he thought the market would enter a recession sooner than it did. Notice how he didn't throw all of his money back in though, he's continually taken it out and once the recession hits, he'll be ready to buy back as recovery comes back around. He lost short term but in the long run he'll make more money than most.