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


Wikimedia Foundation. 2010.

Игры ⚽ Поможем написать реферат

Look at other dictionaries:

  • Global Macro Strategy — A hedge fund strategy that bases its holdings such as long and short positions in various equity, fixed income, currency, and futures markets primarily on overall economic and political views of various countries (macroeconomic principles). For… …   Investment dictionary

  • Global tactical asset allocation — Global Tactical Asset Allocation, or GTAA, is an investment strategy that attempts to exploit short term market inefficiencies by establishing positions in an assortment of markets with a goal to profit from relative movements across those… …   Wikipedia

  • Macro Manager — A boss or supervisor who lets employees do their jobs with minimal supervision. Macro managers are thought of by some employees as superiors who do not give them enough support or feedback to do their jobs effectively, while others may be glad to …   Investment dictionary

  • Global Prescience — Looking for a lesson in humility? Stand at a major historical marker, and try drawing a perfectly reasonable, prudent conclusion about where that marker is pointing. Believe me, if you read about a 15th century traveler saying, I have to get back …   Wikipedia

  • Macro-engineering — In engineering, macro engineering (alternatively known as macroengineering or macro engineering and as megaengineering) is the implementation of extremely large scale design projects. In particular, macroengineering is the process of marshaling… …   Wikipedia

  • macro — macroéconomie [ makroekɔnɔmi ] n. f. • 1948; de macro et économie ♦ Écon. Étude des systèmes, des phénomènes et des relations économiques à un niveau global (⇒ agrégat ) (cf. aussi Économie politique). Abrév. fam. MACRO . Cours de macro. Adj.… …   Encyclopédie Universelle

  • macro — [[t]mæ̱kroʊ[/t]] macros 1) ADJ: usu ADJ n You use macro to indicate that something relates to a general area, rather than being detailed or specific. [TECHNICAL] ...coordinated programmes of regulation of the economy both at the macro level and… …   English dictionary

  • Macro-rafale — Rafale descendante Étalement de la goutte froide donnant les rafales descendantes Une rafale descendante est un courant aérien descendant intense sous un orage, dont l écrasement en surface produit des vents violents, divergents et turbulents. Il …   Wikipédia en Français

  • Macro-Pama-Nyungan languages — Infobox Language family name = Macro Pama Nyungan region = northern Australia family = recently proposed family of Australian languages. familycolor = Australian child1 = Gunwinyguan child2 = Tankic child3 = Garawa child4 = Pama Nyungan… …   Wikipedia

  • Hygienic macro — Hygienic macros are macros whose expansion is guaranteed not to cause collisions with existing symbol definitions. They are a feature of programming languages such as Scheme and Dylan. Contents 1 The hygiene problem 2 Strategies 3 Hygienic macro… …   Wikipedia

Share the article and excerpts

Direct link
… Do a right-click on the link above
and select “Copy Link”