Lot of people feel that market memory of 2008 is forgotten. March 2020 was a stark reminder on 2008 (in case it was forgotten). I feel market memory of 2003 - 2007 is forgotten. People have forgotten what a bull market feels like. Why is it imp to know this is bull market? 1/7
Knowing where we are in the cycle of market is very important. And I would recommend 2 books for that. 1. Mastering the Market cycle - Howard Marks and 2. Edwin Lefèvre’s book: Reminiscences of a Stock Operator. 2/7
Howard marks book is good but it is theoretical and it does not give you the flavour of how it "feels" at various stages of the market cycle. 2nd book I highly recommend because it makes you understand the emotions at every stage of the cycle. 3/7