- 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 Sorosfamously employed a "global macro" strategy when he sold pound sterlingin 1992at the time of the European Rate Mechanismdebacle.
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 financeto 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 tradingwork that has come out of the quantification of behavioural finance.
* [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]
title=Inside the House of Money
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