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"Macro Investing" is an oxymoron...
This topic is inane
Apples vs oranges...thoughts? trends?
which one uses Smart Beta instead of Dumb Beta?
Value probably easier to develop a sustainable edge
In what way?
Macro investing = sexier cocktail party talk but more difficult to do sustainably well
are you really a hedge fund analyst?
Generally speaking neither are worth 2/20
http://www.businessinsider.com/cliff-asness-hedge-fund-fees-2013-9
While the two are obviously quite different they can be very complementary strategies depending on how they are implemented. You will generally find a lot of funds combining the two via top down (macro view) and bottom up (value). As a few mentioned above macro, while it has a slick sense to it is difficult to nail as you are often expressing a subjective view in a binary way, although not always as in other cases you may just be trying to identify a structural shift (e.g. retail to online shopping). Value on the other hand, has an inherent (when done with any degree of competence) margin of safety - just because a stock doesn't double/triple it won't necessarily collapse. In any sense it is probability a good call to get relatively comfortable with both sides, and then specialize as inevitable you'll use and benefit from both in the long run.
Good book for macro: Hedge fund Market Wizards Good book for value: The intelligent investor or one up on wall street
I disagree, pineapples ftw. @"DickFuld", your thoughts?
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