The stock market is the story of cycles and of the human behaviour that is responsible for overreactions in both directions

The stock market is the story of cycles and of the human behaviour that is responsible for overreactions in both directions. Seth Klarman. Cycles are an investing reality. Not just shares - but also bonds, property, infrastructure, term deposits, whatever. They all go through cyclical phases of good times and bad which are driven by the combination of fundamental economic & financial developments invariably magnified by investor behaviour that has a habit of extrapolating current conditions into the future. Some cycles are short term, such as those that relate to the 3 to 5 year business cycle. Some are longer, such as the secular swings seen over 10 to 20 year periods in shares. Access 21 great investment quotes on the following link: (VIEW LINK) @ampcapital