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Discovery, Caxton Lead Macro Setback in First Quarter

Many macro funds, which have struggled over the past few years, were taken by surprise when the post-election trades that had finally given them a boost in the fourth quarter reversed direction this year.

      Collage by Alex Agius for Institutional Investor; Photos by BigStock So much for the macro revival. After many of the macro mavens surged in the fourth quarter, especially following the elections, many analysts and other experts hailed the renaissance of the strategy. But the first quarter wound up being another disappointment along

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