📚 Education — Books/ Howard Marks

Mastering the Market Cycle
Must ReadInvesting
Mastering the Market Cycle
by Howard Marks
Marks explains how market cycles work, why they recur regardless of policy or technology, and how to position a portfolio in relation to where we stand in the cycle.
The Most Important Thing
Must ReadInvesting
The Most Important Thing
by Howard Marks
Marks' distillation of a career in investing. The single best explanation of second-level thinking and risk in investment management. Twenty "most important things," each essential in its own right.