具体描述
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.
用户评价
##凡人凡书，我却非常喜欢。cycles are not well defined/understood, just like risk, and it’s (a key) part of risk actually。不做superpredictor ,只是一个了解当下的人(where are we)，是一个凡人能够卓越的道路。
评分##凡人凡书，我却非常喜欢。cycles are not well defined/understood, just like risk, and it’s (a key) part of risk actually。不做superpredictor ,只是一个了解当下的人(where are we)，是一个凡人能够卓越的道路。
评分##"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."
评分##短评回头再补。书确实有点太长和啰嗦，但是就论述2008年金融危机的经过、周期中人性的作用、周期顶/底点的特征这些内容，足够给本书打五星
评分##短评回头再补。书确实有点太长和啰嗦，但是就论述2008年金融危机的经过、周期中人性的作用、周期顶/底点的特征这些内容，足够给本书打五星
评分##看完了，从大环境的影响、投资者心理因素等等讲述投资理财之道，挺赞的，不知道现在有没有中文版。
评分##坦白说很失望，这本书的信息密度太低了。Howard Marks对市场很有见解，Memo写的也很好，前一本书也是我经常推荐给初学者的，但是他显然没有能力驾驭一本300页并且只有单一主题的书籍。这本书的内容不仅有很多重复，而且几乎一半的内容都是在引用他之前写的memo和他看的别人的书，那我是买了一本你的读书笔记吗？三星给内容，但是这本书的精华完全可以在100页，甚至50页内写完。完全可以出本小册子，而不要出一整本书。太让人失望了。建议感兴趣的人花一天翻完。
评分##引用两句名言（也是本书反复引用的）就可以总结这本书的主旨。1. “历史不会重演，但会惊人的相似。”——马克吐温 2. “别人越是不谨慎的时候，我们越要谨慎行事。”——沃伦巴菲特
评分##太阳底下无新鲜事。谨慎判断，预估风险。
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