ANEWYORKTIMES,WALLSTREETJOURNAL,ANDUSATODAYBESTSELLERThelegendaryinvestorshowshowtoidentifyandmasterthecyclesthatgovernthemarkets.Weallknowmarketsriseandfall,butwhenshouldyoupullout,andwhenshouldyoustayin?Theanswerisneverblackorwhite,butisbestreachedthroughakeenunderstandingofthereasonsbehindtherhythmofcycles.Confidenceaboutwhereweareinacyclecomeswhenyoulearnthepatternsofupsanddownsthatinfluencenotjusteconomics,markets,andcompanies,butalsohumanpsychologyandtheinvestingbehaviorsthatresult.Ifyoustudypastcycles,understandtheiroriginsandremainalertforthenextone,youwillbecomekeenlyattunedtotheinvestmentenvironmentasitchanges.You’llbeawareandpreparedwhileothersgetblindsidedbyunexpectedeventsorfallvictimtoemotionslikefearandgreed.ByfollowingMarks’sinsights--drawninpartfromhisiconicmemosovertheyearstoOaktree’sclients--youcanmastertheserecurringpatternstohavetheopportunitytoimproveyourresults.