發表於2025-06-07
[美]霍華德•馬剋斯(Howard Marks)
橡樹資本聯席董事長及公司核心創始人之一。暢銷書《投資最重要的事》作者。他獲得賓夕法尼亞大學沃頓商學院的經濟學學士學位,後獲得芝加哥大學工商管理碩士學位。他也是特許金融分析師(CFA)。
作為世界頂尖的價值投資者,馬剋斯自20世紀90年代初開始寫投資備忘錄寄予投資人。他的備忘錄深受華爾街,包括他的好朋友、投資大師巴菲特先生推崇。巴菲特先生為他的第一本書《投資最重要的事》題詞:“這是一本難得一見的好書。”
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.
Mastering the Market Cycle 下載 mobi pdf epub txt 電子書 格式 2025
Mastering the Market Cycle 下載 mobi epub pdf 電子書##凡人凡書,我卻非常喜歡。cycles are not well defined/understood, just like risk, and it’s (a key) part of risk actually。不做superpredictor ,隻是一個瞭解當下的人(where are we),是一個凡人能夠卓越的道路。
評分 評分其實還是直接看他的 memo 比較好,感覺他寫書的能力不如寫信
評分##太陽底下無新鮮事。謹慎判斷,預估風險。
評分 評分有些重復發生的模式,大傢一般稱之為周期。 基本麵周期:企業盈利波動幅度是GDP波動幅度的兩三倍,甚至更大。其中的主要原因是企業使用瞭兩大杠杆——經營杠杆和財務杠杆。 投資者的心理周期又對基本麵周期在股價上進行瞭放大。 企業都是藉短投長,因為短期貸款或者短期債券和...
評分##坦白說很失望,這本書的信息密度太低瞭。Howard Marks對市場很有見解,Memo寫的也很好,前一本書也是我經常推薦給初學者的,但是他顯然沒有能力駕馭一本300頁並且隻有單一主題的書籍。這本書的內容不僅有很多重復,而且幾乎一半的內容都是在引用他之前寫的memo和他看的彆人的書,那我是買瞭一本你的讀書筆記嗎?三星給內容,但是這本書的精華完全可以在100頁,甚至50頁內寫完。完全可以齣本小冊子,而不要齣一整本書。太讓人失望瞭。建議感興趣的人花一天翻完。
評分Mastering the Market Cycle mobi epub pdf txt 電子書 格式下載 2025