In this special edition of Value Investor Digest we feature a video of “Mastering the Market Cycle”<\/a> with Howard Marks of Oaktree Capital from the Value Invest New York conference last year, as well as a complimentary interview with Dan O’Keefe of Artisan Partners from Value Investor Insight and 12 other\u00a0articles.<\/p>\n “So I’m writing this book about cycles and I’m pouring everything I know from 50 years in to this book on cycles and about two thirds of the way in I\u00a0said\u00a0to myself ‘hold it, why do we have cycles?\u2019\u2026I think the answer is that we have a trend line and we are progressing on the trend line and then people get optimistic and they depart from the trend line on the upside, I would call that \u2018an excess\u2019, and when the excess becomes sufficient it either collapses of its own weight or something else brings it down and it becomes a correction.\u201d\u00a0This session is a masterclass from Howard on market cycles. As a reminder, at the next Value Invest New York on December 3rd, Joel Greenblatt will be taking part in a similar type of session titled: “The Evolution of Value Investing”<\/a> a Fireside Chat and Audience Q&A\u00a0with Richard Pzena, Pzena Investment Management.<\/p>\nHoward Marks “Mastering the Market Cycle” Video from Value Invest New York<\/a><\/h3>\n