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What is Wrong with Macro?

A tangle of unique, complex issues continue to bedevil global macro hedge funds.

By Sam Diedrich        PAAMCO's Sam Diedrich It’s been somewhat surprising to see many macro strategies — designed to capitalize on changes in monetary policy, macroeconomic conditions and trends in broad asset classes — struggle to perform. Over the past few years, investors have faced a market environment where monetary policy, fiscal policy

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