{"id":4265,"date":"2023-03-09T11:08:01","date_gmt":"2023-03-09T14:08:01","guid":{"rendered":"https:\/\/artica.capital\/asset-videos\/o-pendulo-do-mercado-cartas-mensais-11\/"},"modified":"2025-08-21T12:50:10","modified_gmt":"2025-08-21T15:50:10","slug":"o-pendulo-do-mercado-cartas-mensais-11","status":"publish","type":"aam-videos","link":"https:\/\/artica.capital\/en\/asset-videos\/o-pendulo-do-mercado-cartas-mensais-11\/","title":{"rendered":"The Market Pendulum \u2013 Monthly Letters #11"},"content":{"rendered":"<div class=\"wp-block-group has-global-padding is-content-justification-left is-layout-constrained wp-container-core-group-is-layout-133fd709 wp-block-group-is-layout-constrained\">\n<figure class=\"wp-block-embed is-type-video is-provider-youtube wp-block-embed-youtube wp-embed-aspect-16-9 wp-has-aspect-ratio\"><div class=\"wp-block-embed__wrapper\">\n<iframe loading=\"lazy\" title=\"The Market Pendulum - Monthly Letters #11\" width=\"500\" height=\"281\" src=\"https:\/\/www.youtube.com\/embed\/PGXjzSQvWX0?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe>\n<\/div><\/figure>\n\n\n\n<p>Ivan Barboza, manager of \u00c1rtica Long Term FIA, discusses the dynamics of market fluctuations, using the pendulum movement, an analogy coined by Howard Marks, to describe them. Due to sentiment generated by external factors, the market ends up pricing companies below their valuation, even if the company itself is delivering good results. This often affects individual investor sentiment and raises questions about the invested company. Check out the video!<\/p>\n\n\n\n<div class=\"wp-block-group has-pureza-background-color has-background is-layout-grid wp-container-core-group-is-layout-90834c91 wp-block-group-is-layout-grid\">\n<div class=\"wp-block-group is-vertical is-layout-flex wp-container-core-group-is-layout-d2a5859e wp-block-group-is-layout-flex\" style=\"padding-top:58px;padding-right:40px;padding-bottom:58px;padding-left:40px\">\n<h3 class=\"wp-block-heading\" style=\"font-size:24px;letter-spacing:-0.25px\">Watch more videos from \u00c1rtica<\/h3>\n\n\n<a href=\"https:\/\/www.youtube.com\/@articainvest?sub_confirmation=1\" style=\"font-size:16px;font-style:normal;font-weight:300;\" class=\"is-style-link wp-block-pycblocks-buttonpyc\" target=\"_blank\" rel=\"noopener\"><span style=\"text-wrap: nowrap; margin-right:8px;\">Go to Youtube<\/span><span style=\"display:inline-flex;align-items:center;justify-content:center;fill:#000000;color:#000000;width:14px;height:14px;max-height:14px;vertical-align:middle;flex-shrink:0;\"><svg width=\"20\" height=\"20\" viewbox=\"0 0 20 20\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><rect width=\"20\" height=\"20\" fill-opacity=\"0.01\" style=\"mix-blend-mode:multiply\"\/><path d=\"M11.25 3.75L10.3562 4.62063L15.0938 9.375H2.5V10.625H15.0938L10.3562 15.3581L11.25 16.25L17.5 10L11.25 3.75Z\"\/><\/svg><\/span><\/a><\/div>\n\n\n\n<div class=\"wp-block-cover is-light wp-container-content-3a6eef98\" style=\"min-height:203px;aspect-ratio:unset;\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"778\" class=\"wp-block-cover__image-background wp-image-1042 size-large\" alt=\"-\" src=\"\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-1024x778.jpg\" data-object-fit=\"cover\" srcset=\"https:\/\/artica.capital\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-1024x778.jpg 1024w, https:\/\/artica.capital\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-300x228.jpg 300w, https:\/\/artica.capital\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-768x583.jpg 768w, https:\/\/artica.capital\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-1536x1166.jpg 1536w, https:\/\/artica.capital\/wp-content\/uploads\/2025\/07\/perspectiva-da-pessoa-que-cria-conteudos-de-viagens-com-o-smartphone-2048x1555.jpg 2048w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><span aria-hidden=\"true\" class=\"wp-block-cover__background has-background-dim-0 has-background-dim\"><\/span><div class=\"wp-block-cover__inner-container is-layout-flow wp-block-cover-is-layout-flow\">\n<p class=\"has-text-align-center has-large-font-size\"><\/p>\n<\/div><\/div>\n<\/div>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>Ivan Barboza, gestor do \u00c1rtica Long Term FIA, comenta a din\u00e2mica das oscila\u00e7\u00f5es de mercado, usando o movimento do p\u00eandulo, analogia criada por Howard Marks, para descrev\u00ea-la. Devido ao sentimento gerado por fatores externos, o mercado acaba precificando empresas abaixo de seu valuation, mesmo que a empresa em si esteja entregando bons resultados. Isso, muitas vezes afeta o sentimento do investidor individual e causa questionamentos quanto a empresa investida. <\/p>","protected":false},"author":1,"featured_media":4264,"template":"","meta":[],"class_list":["post-4265","aam-videos","type-aam-videos","status-publish","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/aam-videos\/4265","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/aam-videos"}],"about":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/types\/aam-videos"}],"author":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/users\/1"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media\/4264"}],"wp:attachment":[{"href":"https:\/\/artica.capital\/en\/wp-json\/wp\/v2\/media?parent=4265"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}