Global Macro Trading: Profiting in a New World Economy Hardcover – Jun 9 2014
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From the Inside Flap
Global Macro Trading: Profiting in a New World Economy is an indispensable guide for traders and investors who want to trade global macroit provides trading strategies and overviews of the four asset classes in global macro, which include equities, currencies, fixed income, and commodities. Greg Gliner, who has worked for some of the largest global macro hedge funds, shares ways in which an array of global macro participants seek to capitalize on this strategy. Whether you are a retail investor, finance professional, or manage your own portfolio, this book equips you with the knowledge and skills you need to capitalize in global macro.
Gliner provides a comprehensive overview of global macro trading, which consists of portfolio construction, risk management, biases, and essentials to query building. Global Macro Trading equips the reader with introductions and tools for each of the four asset classes: equities, currencies, fixed income, and commodities. The reader will be armed with a range of powerful global macro trading and investing strategies that include introductions to discretionary and systematic macro. The book also discusses the role of central banking and the importance of global macroeconomic data releases and demographics as they relate to global macro trading.
The thorough information provided in Global Macro Trading enables readers to navigate global macro markets with confidence. After reading this book, you will understand the basic concepts behind the asset class and ways to trade it. You will also have a reference guide that will serve as a valuable tool in navigating the various regimes and market conditions. This information will empower the reader with a confident and competent understanding of global macro.
From the Back Cover
Praise for GLOBAL MACRO TRADING
"Global Macro Trading is a precious addition to the analysis of macroeconomics. It also explains in clear and well-written chapters how to profit from continuously changing trends through the understanding of the relationships between equities, fixed income securities, foreign exchange, and commodity price movements. I highly recommend this very thorough and well-researched work to any investor."
Marc Faber, Editor, The Gloom, Boom & Doom Report
"This is one of those books you want to have on your desk nearby and reference when you see something that you know is macro and want to get up to speed fast. Greg Gliner managed to get across a lot of important points and material in a clean and organized way, something that I wish I had 25 years ago when I was starting to trade global macro myself."
Robert Savage, CEO of CCTrack Solutions, a new quantitative macro hedge fund
"Global Macro Trading is a perfect primer for those seeking to understand global macro. Gliner provides an easy to digest breakdown of the most critical topics related to trading global macro, including discretionary versus systematic approaches, technical analysis, the role of risk management in macro, economic data, and understanding different product groups. This book is a must-read for any money manager or trader seeking to understand the asset class."
Anthony Scaramucci, Founder and Co-Managing Partner, SkyBridge Capital
"It is quite possible for a 'bottoms up' investor to go through life without any understanding of global macroeconomics. Most think it can only be done by Ph.D.'s with access to enormous computing capacity and are intimidated. Greg Gliner unravels some of the mysteries of the strategy and provides a helpful guide to harnessing its power in a disciplined way. Every investor can benefit from knowing more about the science and art of this craft."
Byron R. Wien, Vice Chairman, Blackstone Advisory Partners LP
Most Helpful Customer Reviews on Amazon.com (beta)
Mr. Gliner however, offers a wider view in his book, a review of four classes of assets and their inter-relationship. It is clear from the reading, that each one of these assets is affected by the performance of the others on a day-to-day basis. In my view the explanations of the mechanisms of their interdependency is the most valuable contribution of this book. Further, the reader can extract ideas and methods for building a complex portfolio on a global and informed basis, and learn how to rotate between classes of assets to optimize benefit, and manage risk. For all the reasons above, and as it introduces and explains elementary concepts that are then woven into advanced techniques, the book represents an exceptional instructional value that I highly recommend to both the amateur and the professional investors; each one can extract useful and applicable knowledge at their respective level of expertise. Last, but not least, the introduction and summaries presented in each chapter are very useful in reviewing quickly the material covered.
This book belongs to Bloomberg series and the author was working in AQR before, so my expectation on this book was on the levels of Expected Returns, and Efficiently Inefficient by other two AQR principals.
It turns out that the book was too shallow for me, and I am still not confident to say that my understanding on Global Macro improved after reading this book.
If you are a newbie in investing, probably this is not a bad choice.
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