Global macro

Global macro

The term global macro is used to classify the strategy of certain hedge funds—those that take positions in financial derivatives, on the basis of forecasts and analysis about interest rate trends, movements in the general flow of funds, political changes, government policies, inter-government relations, and other broad systemic factors.

George Soros famously employed a "global macro" strategy when he sold pound sterling in 1992 at the time of the European Rate Mechanism debacle.

A major area of current interest in the "global macro" world is how to apply some of the new mathematical models coming out of quantitative finance to global macro. So far only a few hedge funds have tried, and none have really succeeded.Fact|date=April 2008 The only area in which success could be claimed is in 'black box trading/commodity trading advisors'. Any future work in this area is likely to look to involve areas of momentum trading work that has come out of the quantification of behavioural finance.

References

* [http://media.wiley.com/product_data/excerpt/73/04717944/0471794473.pdf Introduction to Global Macro Hedge Funds]
* [http://www.barclaygrp.com/indices/ghs/Global_Macro_Index.html Global Macro Index]

Further reading

*cite book
last=Drobny
first=Steven
authorlink=Steven Drobny
title=Inside the House of Money
publisher=Wiley
date=2006
location="The Dot-Commer"
url=http://www.amazon.com/dp/0471794473/
id=ISBN 0-471-79447-3


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