Global macro

macro
Global macro is an investment strategy based on the interpretation and prediction of large-scale events related to national economies, history, and international relations.wikipedia
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Interest rate

interest ratesdiscount rateinterest
The strategy typically employs forecasts and analysis of interest rate trends, international trade and payments, political changes, government policies, inter-government relations, and other broad systemic factors.

George Soros

SorosSoros, Georgeconspiracy theories about George Soros
A noted example of what is now called a Global Macro strategy was George Soros' profitable sale of the pound sterling in 1992 prior to the European Rate Mechanism debacle.

Pound sterling

£GBPpounds
A noted example of what is now called a Global Macro strategy was George Soros' profitable sale of the pound sterling in 1992 prior to the European Rate Mechanism debacle.

European Exchange Rate Mechanism

ERM IIExchange Rate MechanismERM
A noted example of what is now called a Global Macro strategy was George Soros' profitable sale of the pound sterling in 1992 prior to the European Rate Mechanism debacle.

Black Wednesday

Black Wednesday UK currency crisisBritain's ejection from the Exchange Rate Mechanismcambial crisis
A noted example of what is now called a Global Macro strategy was George Soros' profitable sale of the pound sterling in 1992 prior to the European Rate Mechanism debacle.

Institutional investor

institutional investorsinstitutionalForeign Institutional Investors
In the 2010 Opalesque Roundtable discussion of global macro, hedge fund manager John Burbank discussed the increasing importance and shift of private and institutional investors toward more global macro strategies.

Michael Novogratz

Mike NovogratzMichael E. NovogratzMichael Edward (Mike) Novogratz
Mike Novogratz, former president of Fortress Investment Group, runs a global investment management firm with total assets under management of approximately $41.6 billion and $4.3 billion in a global macrohedge fund in 2015 discussed global macro trading in his video interview.

Fortress Investment Group

Fortress Investment Group, LLCFortress InvestmentsFortress Investment
Mike Novogratz, former president of Fortress Investment Group, runs a global investment management firm with total assets under management of approximately $41.6 billion and $4.3 billion in a global macrohedge fund in 2015 discussed global macro trading in his video interview.

Assets under management

AUMassetsfunds under management
Mike Novogratz, former president of Fortress Investment Group, runs a global investment management firm with total assets under management of approximately $41.6 billion and $4.3 billion in a global macrohedge fund in 2015 discussed global macro trading in his video interview.

Business cycle

economic boomboomboom and bust
Novogratz described global macro strategies as monitoring these macroeconomic stories, such as global imbalances, business cycles, the survival of the Euro, and changing growth models of emerging economies.

Emerging market

emerging marketsemerging economiesemerging countries
Novogratz described global macro strategies as monitoring these macroeconomic stories, such as global imbalances, business cycles, the survival of the Euro, and changing growth models of emerging economies.

Long/short equity

Long / short equitylong-shortlong/short
Most long/short equity managers started in research as analysts and look to follow these macroeconomic stories based on what positions they believe in and stock positions they rely on.

Liquidity crisis

liquidity crisescrisesliquidity spirals
Macro traders are not fundamentalists; they rely on risk management and staying liquid to avoid a liquidity crisis.

Economic bubble

bubblespeculative bubblebubble economy
In 2007 and 2008, with the credit bubble where there was a long period of high volatility and illiquidity, many global macro funds found themselves with liquidity problems.

Volatility (finance)

volatilityvolatileprice volatility
In 2007 and 2008, with the credit bubble where there was a long period of high volatility and illiquidity, many global macro funds found themselves with liquidity problems.

David McCormick

David H. McCormick
He is the Co-CEO and a member of the Management Committee at Bridgewater Associates, a global macro investment firm with over $160 billion in assets under management.

Chris Rokos

He is the founder of macro hedge fund Rokos Capital Management and a former founding partner of Brevan Howard Asset Management.

Caxton Associates

Caxton Corporation
Caxton Associates is a global macro hedge fund founded by Bruce Kovner in 1983 in New York City.

Peter Thiel

Peter A. ThielPeter Thiel’sPeter Theil
After the sale of PayPal, he founded Clarium Capital, a global macro hedge fund.

Steven Drobny

He is the founder of Clocktower Group, a consulting and investment advisory business focused on fundamental discretionary global macro and commodity hedge fund strategies.

Bridgewater Associates

All WeatherBridgewater Associates LPBridgewater Business Analysis
It utilizes a global macro investing style based on economic trends such as inflation, currency exchange rates, and U.S. gross domestic product.

Commodities Corporation

Helmut Weymar
CC is credited for launching the careers of many notable hedge fund investors and for its influence on global macro investing.

Global tactical asset allocation

GTAA
GTAA is believed to be derived from, and share some characteristics of, global macro hedge funds and tactical asset allocation (TAA).

Clarium Capital

Clarium Capital ManagementClarium
Clarium Capital Management LLC is an American investment management and hedge fund company pursuing a global macro strategy.

Andrew Lo

Andrew W. LoLoLo, Andrew
AlphaSimplex specializes in quantitative global macro and global tactical asset allocation strategies, beta-replication products, and absolute-return risk analytics.