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Macro Trading and Investment Strategies: Macroeconomic Arbitrage in Global Markets

by Gabriel Burstein
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Current price ₹5,503.00
Original price ₹7,840.00
Original price ₹7,840.00
Original price ₹7,840.00
(-30%)
₹5,503.00
Current price ₹5,503.00

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Book cover type: Hardcover
  • ISBN13: 9780471315865
  • Binding: Hardcover
  • Subject: N/A
  • Publisher: Wiley
  • Publisher Imprint: Wiley
  • Publication Date:
  • Pages: 228
  • Original Price: USD 80.0
  • Language: English
  • Edition: N/A
  • Item Weight: 518 grams
  • BISAC Subject(s): Investments & Securities / Futures and Finance / General

From the Back Cover

FROM TRADING SUBJECTIVE MACROECONOMIC VIEWS TO ARBITRAGING OBJECTIVE MACRO MISPRICINGS: A NEW WAY TO TRADE GLOBAL MARKETS

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.

Dr. Burstein, an ex-Goldman Sachs macro proprietary trader who now heads a hedge funds-dedicated equity sales group at Daiwa Europe, proposes a new global macro strategy that is nondirectional and more objective. The classic global macro strategy utilizes macroeconomic information to anticipate market direction through subjective views. As a result, global macro has a strong subjective-directional component. Based on objective mispricings of macroeconomic information in stock market index and stock sector index spreads, a new long/short arbitrage strategy is presented here that capitalizes on the correction of objective macroeconomic mispricings. These macro arbitrage strategies are evaluated and tested in volatile markets such as the "domino effect" of the global financial crises of 1997-1998 that led to a hedge fund crisis. In fact, the book shows how global financial crises create strong macro arbitrage opportunities while also being a catalyst for correcting preexistent macro mispricings.

Macro Trading and Investment Strategies: Macroeconomic Arbitrage in Global Markets presents a new and compelling trading and investment strategy. Written in a clear and concise style, it includes definitions and carefully tested trading examples.

GABRIEL BURSTEIN, PhD, was a macro proprietary trader with Goldman Sachs. He currently heads Specialized Equity Sales & Trading at Daiwa Europe Ltd., London, a group he set up to sell European equity products to hedge funds based on long/short macro and relative-value ideas. He is a frequent speaker on new long/short macro strategies and the EMU at worldwide alternative investment and hedge fund conferences. Dr. Burstein received his PhD in mathematics from Imperial College of the University of London. He has had several papers published in mathematical control theory and in mathematical modeling in neurology, neuroendocrinology, and HIV immunology.

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