We are delighted to share with you a Great Investors podcast deep dive, the members-only companion to our free audio program, Howard Marks: Higher-Level Thinking. Each free program in the series is an hour-long narrated profile of one investor. Each deep dive takes one of that investor’s working methods and teaches it to you, in narrated instruction, so that you can run it yourself. This one builds three readings of a market’s temperature in eight modules. It is audio only, with nothing to download, so a member who listens on the go gets the whole program. We start with what you will be able to do:
You will be able to take the market in front of you, gather the evidence that bears on where it stands, and reach a defensible reading without forecasting anything. You will be able to convert that reading into one decision about how much risk to carry, and to know what would have to change for the reading to move. You can run it yourself on any date you name, with nothing more than free public series and a calculator. What follows is the method itself, module by module.
