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Macro Trading & Investment Strategies Macroeconomic Arbitrage in Global Markets (Wiley Trading Advantage Series)
ISBN: 0471315869     Date Published: 1999-02-08     Author(s): Gabriel Burstein
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Hardcover
Wiley
228 Pages
 
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06/20/2013 01:26:39
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Editorial Review - Book Description:
Macro Trading and Investment Strategies is the first thorough examination of one of the most proficient and enigmatic trading strategies in use today - global macro. More importantly, it introduces an innovative strategy to this popular hedge fund investment style - global macroeconomic arbitrage.

In Macro Trading and Investment Strategies, Dr. Burstein presents, with examples, the framework for traditional global macro strategies, then shows how to use macroeconomic mispricings in global financial markets to design innovative global macroeconomic arbitrage strategies for trading and investing. Packed with revealing trading case studies, examples, explanations, and definitions, this comprehensive work covers:
* Global directional macro, long/short macro, and macroeconomic arbitrage trading and investment strategies
* Causes of macroeconomic mispricings in markets; tackling secondary macroeconomic variables in trades
* The importance of technical timing in macro arbitrage
* Volatility of macro arbitrage strategies versus volatility of relative-value strategies
* Mispricing opportunities due to the effect of the Asian crisis on global markets
* Macro arbitrage of the EMU convergence mispricing in equity markets
* Mispricings of retail sales, GDP, industrial production, interest rates, and exchange rates in stock markets

In-depth and timely, Macro Trading and Investment Strategies covers an area of intense interest to today`s trading and investment community and shows new opportunities. It is invaluable reading for those seeking new ways to tackle today`s volatile global markets.

Gabriel Burstein (London, UK) heads Specialized Equity Sales & Trading at Daiwa Europe Limited, where he set up the department to sell European equity products to hedge funds
 
Customer Review:
Total Reviews: (4)
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9 of 9 People found the following review helpful.

Not advanced - not simple, April 12, 2004 ByBrian S. Yelvington (New York, NY) - See all my reviews This review is from: Macro Trading & Investment Strategies : Macroeconomic Arbitrage in Global Markets (Wiley Trading Advantage Series) (Hardcover) I cannot be overly critical of this book merely due to my own preconceived notions of what it might be. I was expecting some sort of more hands-on version of Soros' "Alchemy". What I got was nothing of the kind. The trade examples are very simplistic and the book poorly constructed, laid out, and written. The entire work could be 2-3 chapters in normal prose and outline. The strategies discussed were somewhat advanced strategies that were described in an extremely simplistic manner. Somewhat akin to Sesame Street giving instructions on how to manage an options book. I was sorely disappointed as I know the author is capable of delivering a much more intriguing work.
 
9 of 10 People found the following review helpful.

Titles might be misleading by Tevfik Aksoy, February 13, 2000 ByDr. Tevfik AKSOY - See all my reviews This review is from: Macro Trading & Investment Strategies : Macroeconomic Arbitrage in Global Markets (Wiley Trading Advantage Series) (Hardcover) The book is based on ex post iteration of events and investment strategies, which lacks the necessary foundation of macroeconomic introduction. It requires extensive knowledge of macroeconomics and finance in order to grasp (or digest) what the ideas behind strategies are. Clearly not for a beginner but I would not recommend it for an experienced fund manager at all. I found most of the examples and strategies highly simple.
 
4 of 6 People found the following review helpful.

Not really that good......., May 26, 2006 ByD. P. McNulty (Shawnee Mission, KS) - See all my reviews Amazon Verified Purchase(What's this?) This review is from: Macro Trading & Investment Strategies : Macroeconomic Arbitrage in Global Markets (Wiley Trading Advantage Series) (Hardcover) When I first saw this book and ordered it i was very excited to learn more about the intricies of macro trading. After reading about 1/2 of the book I could tell I just wasted $40. I found that the authors comparison of two different variables on 1 graph with 2 Y axis was statistically wrong. You cannot compare two different variables on absolute movement at all, espically when you are using two different scales on the same graph. Using this method of comparison sun-spots and the S&P500 have correlated. The correct way to do this is by comparing percentage movement of the two different variables. By doing this with my previos example there is no real correlation, jsut as one would think. I would assume that the same would occur for 1/2 of this books graphs. All in all, buy, Market-Neutral Investing : Long/Short Hedge Fund Strategies by Joseph G. Nicholas, You'll apperciate it alot more and it isn't flawed like the book on this page!
 
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