JJ discusses the latest Memo from legendary value investor Howard Marks, Taking the Temperature, in which Marks explains his strategy of taking the temperature of the stock market at any given time. Marks has made only 5 stock market calls since 2000, and got them right. He thinks we can do it too.

Timestamps:

00:00 Howard Marks, Taking the Temperature intro

01:15 Jan 2000 : Calling the Dotcom Bubble bust

03:40 2004-2007: A slow developing train wreck

05:26 2008: Subprime and the Global Financial Crisis

06:45 Late 2008: Putting money to work in a cold market

08:09 2012: The death of equities? Déjà vu all over again

11:09 March 2020: Market panic and fear - a time to buy

13:11 How we can make correct market calls

15:27 Stock market pattern recognition

Related content:

Howard Marks Says Historic Stock Market Sea Change Has Begun

https://open.spotify.com/episode/0P39cFztbVFU369YbFjNCK?si=bdc9c45581e44c63

Investing books featured in the episode:

Mastering The Market Cycle: Getting the Odds on Your Side by Howard Marks (referral link)

https://amzn.to/3qdVK6g

Devil Take the Hindmost: A History of Financial Speculation by Edward Chancellor (referral link) https://amzn.to/3Ykgw0C

Using a referral link helps support the pod, thanks!

The main investment brokerage I use to buy international stocks, and to hold cash, is Interactive Brokers (referral link): https://ibkr.com/referral/john5664

I use TIKR Terminal to help analyze great businesses, follow top investor portfolios, and help monitor my portfolio (referral link): http://tikr.com/theartofvalue

Disclaimer: I am not a financial adviser. This content is for education and entertainment purposes only. Do your own analysis and/or seek professional financial advice before making any investment decision.