The Different Shades of Macro

By: Igor Yelnik

This article was first published as a chapter in Global Macro: Theory and Practice, by Risk Books.

This chapter will concentrate on similarities and distinctions between various global macro styles of investing, with a particular focus on an institutional investment approach, typically referred to as global tactical asset allocation (GTAA). The author believes that a clear delineation between different macro styles, including GTAA, is sometimes difficult to achieve. While distinctions between t

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