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Global Macro Trading: Profiting in a New World Economy (Hardback or Cased Book)
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Última actualización el 07 oct 2025 19:03:11 H.EspVer todas las actualizacionesVer todas las actualizaciones
Características del artículo
- Estado
- EAN
- 9781118362426
- ISBN
- 111836242X
- Manufacturer
- Bloomberg Press
- Brand
- Bloomberg Press
- Binding
- TC
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Product Identifiers
Publisher
Wiley & Sons, Incorporated, John
ISBN-10
111836242X
ISBN-13
9781118362426
eBay Product ID (ePID)
26038833197
Product Key Features
Book Title
Global Macro Trading : Profiting in a New World Economy
Number of Pages
368 Pages
Language
English
Publication Year
2014
Topic
Marketing / General, Public Finance, Finance / General, Economics / Macroeconomics
Illustrator
Yes
Genre
Business & Economics
Book Series
Bloomberg Financial Ser.
Format
Hardcover
Dimensions
Item Height
0.7 in
Item Weight
17.5 Oz
Item Length
9 in
Item Width
6 in
Additional Product Features
Intended Audience
Trade
LCCN
2014-013497
Dewey Edition
23
Series Volume Number
567
Dewey Decimal
332.64/2
Table Of Content
Preface xiii Part One: An Overview Of Global Macro Chapter 1 Surveying the Global Macro Landscape 3 Types of Global Macro Strategies 3 Return Profile and Allocations 6 Hedge Funds and Global Macro 7 Summary 10 Chapter 2 Trading Process, Sizing Trades, and Monitoring Performance 11 Maintaining a Stringent Process 12 Objectivity and Bias 12 Taking Losses 15 Position Sizing 16 Unit Size 17 Volatility Adjusting Position Size 17 Risk/Reward 18 Correlation 19 Gap Risk 20 Position Sizing Sheet 21 Thematic Trade 21 Sharpe Ratio 22 Sortino Ratio 23 Drawdowns 23 Value at Risk (VaR) 23 Risk Utilization 24 Stress-Testing 26 Monitoring Performance 27 Trend Analysis 29 Bloomberg Shortcuts 31 Summary 31 Chapter 3 Back-Tests, Queries, and Analogs 33 Simple Back-Tests and Queries 33 An Example of Building a Query 34 Historical Correlations and Analogs 40 Summary 43 Chapter 4 The Building Blocks of Global Macro Trading:The Importance of Equities, Fixed Income, Foreign Exchange, and Commodities in Global Macro 45 The Four Product Groups 45 Assessing the Relationships between Assets 50 Summary 53 Chapter 5 Technical Analysis 55 Strengths and Weaknesses of Technical Analysis 55 Types of Charts 56 Volume and Open Interest 63 CFTC Positioning 64 Trend 66 Moving Averages 66 Bollinger Bands 67 Reversal Patterns 67 Head and Shoulders 68 Trend Lines 69 Triple Tops and Bottoms 69 Continuation Patterns 70 Triangles 70 Oscillators 71 Elliott Wave Theory 74 Parabolics 80 Seasonals 82 Cycles 83 Crowd Psychology and Contrarian Views 84 Chartered Market Technician (CMT) 87 Bloomberg Shortcuts 88 Summary 89 Contents ix Chapter 6 Systematic Trading 91 A Brief Definition of Systematic Trading 91 Framework for Constructing a Systematic Model 92 Assets or Product Groups 92 Strategies 93 Factors 97 Risk Factors 98 Risk Premia 99 Risk Parity 100 Summary 103 Part Two: Global Macro Trading Foundation Chapter 7 Foreign Exchange in Global Macro 107 The Role of the U.S. Dollar 107 Trading Currencies 109 Currency Regimes 111 Valuation Techniques for Foreign Exchange 120 Bloomberg Shortcuts 134 Summary 135 Chapter 8 Equities 137 Equity Indices Overview 137 Equity Derivatives 140 Valuation Techniques for Equities 149 Bloomberg Shortcuts 159 Summary 161 Chapter 9 Fixed Income 163 Funding/Money Markets 163 London Interbank Offered Rate (LIBOR) 170 Interest Rate Swaps 172 Federal (Fed) Funds 172 Overnight Indexed Swaps (OIS) 173 Forward Rate Agreements (FRAs) 176 U.S. Fixed Income Futures 177 Sovereign Credit 180 Sovereign Curve 181 Curve Inversion 181 Credit Default Swaps (CDS) 182 Exchange Traded Funds (ETFs) 187 Bloomberg Shortcuts 188 Summary 194 Chapter 10 Commodities 195 Supply Drivers 196 Demand Drivers 197 Ending Stock 198 Contango and Backwardation 198 CRB Index 200 Return and Volatility 200 Energy 201 Natural Gas 219 Precious Metals 223 Industrial Metals 231 Agriculture 237 Bloomberg Shortcuts 264 Summary 267 Chapter 11 The Role of Central Banks in Global Macro 269 Monetary Policy Goals 269 Tools Used by Central Banks 271 The Impossible Trinity 275 Monetary Base 276 Money Supply 276 Reserves 277 Zero Lower Bound and the Liquidity Trap 279 Quantitative Easing 279 Interpreting Central Bank Communication 282 Central Banks 286 Bloomberg Shortcuts 310 Summary 311 Appendix: Fed Programs during the Financial Crisis 311 Chapter 12 Economic Data Releases and Demographics 315 Measuring Growth 315 Inflation 316 Employment and Population 317 Balance of Payments 320 Government Indicators 323 Consumption Indicators 325 Industry and Services Indicators 326 Demographics 329 Bloomberg Shortcuts 333 Summary 334
Synopsis
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, Brings global macro trading down to earth for individual and professional traders, investors and asset managers, as well being a useful reference handbook Global Macro Trading is an indispensable guide for traders and investors who want to trade Global Macro - it 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, while also serving as a useful reference tool. Whether you are a retail investor, manage your own portfolio, or a finance professional, this book equips you with the knowledge and skills you need to capitalize in global macro. Provides a comprehensive overview of global macro trading, which consists of portfolio construction, risk management, biases and essentials to query building Equips the reader with introductions and tools for each of the four asset classes; equities, currencies, fixed income and commodities Arms you with a range of powerful global-macro trading and investing strategies, that include introductions to discretionary and systematic macro Introduces the role of central banking, importance of global macroeconomic data releases and demographics, as they relate to global macro trading, Brings global macro trading down to earth for individual and professional traders, investors and asset managers In a world that is increasingly interconnected, geopolitically, culturally and economically, global is the new normal in the financial markets.
LC Classification Number
HG4521
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