Cycle
摘要
This chapter explores the cyclical nature of economic and financial markets, examining four major types of cycles—Kitchin, Juglar, Kuznets, and Kondratiev—each operating over different time horizons and driven by distinct factors such as inventory adjustments, investment behavior, structural shifts, and technological revolutions. Through historical case studies of various economies, the chapter illustrates how cyclical patterns recur across time and regions. Understanding these cycles enables investors to better anticipate turning points, manage risk, and align strategies with broader economic trends. While not perfectly predictable, cycles offer a powerful framework for interpreting market dynamics and navigating uncertainty with enhanced foresight.