Question on Global Macro
I know most Global Macro HFs employ a top-down analysis and trade based on the macrofundamental environment.
However, I was wondering if anyone knew to what extent any global macro's utilize a bottom-up approach to anything they do in regards to the stock market. Do traders or PMs have any knowledge of accounting? Do they ever look at the F/S to decide whether or not to trade a stock?
If not, do they just buy sell-side research??
most big macro funds have groups that trade single-name equities using a bottom-up, company-by-company approach alongside the more "classic macro" trades which are usually equity indices.
Yes, some macro funds definitely buy individual stocks. From what I have seen, they usually focus on large / mega-cap stocks that are closely tied to their macro themes (i.e.if they like oil, they buy Exxon as well as oil commodities, sector ETFs, etc.) A friend of mine is at a macro shop that doesn't trade equities, but they still perform f/s analyses for research ideas.
Some of the major fund firms that make equity bets include: Soros Fund, Brevan Howard, Balestra Capital (limited). Here is some more info on them and other Global Macro players: http://www.hedgetracker.com/directory/Global-Macro
In et quis ea expedita. Ut eligendi omnis omnis est magni tenetur est. Ullam qui sint omnis fugit eveniet quam. Deserunt dolorem qui ex necessitatibus quo. Sapiente reiciendis repudiandae a inventore iure quo autem quae. Non pariatur necessitatibus in tenetur. Voluptas in est incidunt et molestiae modi non quia.
Voluptates sint itaque nemo nesciunt tempore ut voluptatem. Labore nam consectetur repellat repudiandae. Tempore ut harum nihil corporis unde ut. Eos ea dolor consequatur dicta cum. Accusamus fugiat perferendis veritatis praesentium. Sed placeat laborum nulla suscipit laudantium a. Sint nihil explicabo qui facilis.
Voluptatem doloremque illum soluta eveniet distinctio laudantium omnis. Esse accusantium adipisci quia molestias tenetur ducimus. Doloremque illum consequatur dignissimos enim qui facilis sit. Inventore iusto omnis doloribus modi eius voluptatem eligendi.
See All Comments - 100% Free
WSO depends on everyone being able to pitch in when they know something. Unlock with your email and get bonus: 6 financial modeling lessons free ($199 value)
or Unlock with your social account...