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From Kirsten Bischoff, Opalesque New York:

The world is rapidly growing smaller and yet infinitely more complex. And as this happens, global macro managers are conquering the markets analyzing the big picture and using their knowledge of global events (past and present) as a crystal ball, becoming the only hedge fund strategy in the Credit Suisse Tremont Broad Index to post six consecutive months of positive returns (as of April 2009). Could it really be that simple?

A strategy requiring research intensity "We take the fundamental philosophical view that macro is the sum of all micro and that macro data that is released by various government authorities always lags the reality and only exists to confirm or deny what we already know," says David Gerstenhaber Portfolio Manager of Argonaut Capital Management, LP which manages the Argonaut Aggressive Global Partnership LP (launched in July 2000) and the Argonaut Global Macro Fund Ltd (launched in August 2005).

Since the March release of the Credit Suisse research paper declaring global macro the top performing hedge fund strategy since the inception of the Credit Suisse/Tremont Hedge Fund Index in 1994, with an annualized total return of 12.57% (as of January 31, 2009) an increasing number of hedge fund managers have begun to tout the "global macro approach" they may use in their own investment strategy.

However, true global macro manag......................

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