Global Macro Trading: Profiting in a New World Economy

by Greg Gliner

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

Genres: Finance, Economics, Business

368 pages, Kindle Edition

First published May 8, 2013

Reviews

[CHT · Rating 5 out of 5]

Greg Gliner obviously comes from some fairly astute pedigree, AQR and Tudor from memory. Discretionary macro trading doesn't have a lot of resources out there. In fact, if anyone comes to the subject looking for a single explanatory resource they are left turning to Soros, Droby or Livermore as there really isn't anywhere else to go, whilst those titles are crucial readings, they are not really an ideal first stop and will likely confuse and deter the audience. Which is why I was interested in reading this title to see if someone had finally done it and Greg clearly has, hence my 5 star rating. I believe this is a great attempt to distil a very large complex topic into something that is understandable to the uninitiated. I will be handing a copy of this to my interns one day.

[Jake Stetter · Rating 2 out of 5]

dated

[Robert · Rating 3 out of 5]

When it comes to trading textbooks, I’ve found that two factors in particular correlate positively with their utility to me: whether the author has institutional risk-taking experience (high believability, to use Dalio’s phrase, c.f. Principles), and more weakly, the length of the book – shorter ones are often higher quality (The Laws of Trading, Advanced Portfolio Management, Volatility Trading come to mind).

A priori, Gliner’s Global Macro Trading seems to satisfy these two criteria, but unfortunately it might be something of a false positive. The book begins by examining what a discretionary macro trading process might look like: there is a somewhat primitive discussion of cognitive biases, useful in spirit but neither as accurate nor comprehensive as something like that in Alpha Trader, and classic advice like “cut your losses and let your winners ride” – which I don’t necessarily disagree with, but it’s a take given without much nuance.

The remainder of the book is a collection of basic facts about different markets, including some prosaic aspects like contract denominations and Bloomberg functions. It is not a bad book; I got some value from the later chapters on global central banking, and notably, I did not suffer Gell-Mann amnesia – Gliner gave a good introduction to the areas I am familiar with, which gives me confidence in the quality of his introduction to markets for which I have no expertise.

Overall, Global Macro Trading is decent as a quick survey to help you “know what you don’t know”, but don’t expect to walk away with any deep new insight.

[Bayu D. Putra]

Kind of book for interns working at Bloomberg Terminal. Gives the reader basic understanding yet broader insight about how the global market works.

[Skywalker Hu · Rating 5 out of 5]

A very enlightening book for a banker who’s always interested in global macro. While I may not get into global macro immediately post investment banking since there’s a relative shortage of companies in Hong Kong/China, those thinking can go into how I look at equities from a fundamental point of view. Others feel free to chime in for more book recommendations.

[Stefan Bruun · Rating 5 out of 5]

While this book isn't a recipe for success by any means. That said, it provides a great insight into global macro investing from a practitioner with an impressive resume including AQR and Paul Tudor Jones.

[Kaloyan Roussev · Rating 5 out of 5]

Extremely comprehensive fast-paced, high-level overview of everything that comprises global macro trading with a ton of useful advice. Very practical. Highly recommended

[Alex Xu · Rating 3 out of 5]

哈哈，只讲了些instrument和大的概念，算bloomberg macro function 教程吧

[Johan Monge · Rating 2 out of 5]

Basic introduction to commodities and the different ways to invest in them, yet frankly, this book holds little else of value and can be substituted through google searches

[noblethumos · Rating 5 out of 5]

"Global Macro Trading: Profiting in a New World Economy" is a book written by Glenn H. Gliner, a former hedge fund manager and trader, and published in 2014. The book provides an introduction to global macro trading, a strategy that involves investing in a wide range of asset classes, including stocks, bonds, commodities, and currencies, based on macroeconomic trends and events.

Gliner covers a wide range of topics in the book, including the basics of global macro trading, the role of central banks and governments in the global economy, the impact of geopolitical events on financial markets, and the use of derivatives and other financial instruments in global macro trading.

The book is aimed at both novice and experienced traders, and provides practical insights and advice on how to develop and implement a successful global macro trading strategy. Gliner also draws on his own experiences as a hedge fund manager to provide real-world examples of global macro trading in action.

Overall, "Global Macro Trading" is a useful and informative book for anyone interested in learning more about global macro trading and how to profit from the ever-changing global economy.

GPT

[GaidenSpence · Rating 2 out of 5]

Not too useful tbh the book is dated on rate stuff as it still references LIBOR which has transitioned to SOFR but also the first half of the book is big on TA has information that is outdated and not useful. But towards the end some of the macro-economic stuff is pretty useful on how countries try to maintain growth, inflation, and a stable currency. Some cool terminal functions though.

[wertygkwaitingjklpout · Rating 5 out of 5]

Broad, thoughtful review of pertinent global macro trading topics

Written in an informed, accessible manner, this provides a broad and thoughtful overview of the pertinent topics related to global macro trading.

[Joonks · Rating 3 out of 5]

Thorough primer which focuses more on Breadth than Depth - Chapters seem very disconnected and reads more like a reference text.

[Zhong Sheng · Rating 3 out of 5]

Good intro

[Kurishin · Rating 4 out of 5]

This book accomplishes its goal. It is for beginning traders/analysts.

[Nurit · Rating 5 out of 5]

great, and very engaging book.