such strategy might be supplemented by Momentum, Betting against Beta or High minus Low Devil strategies. I have created a new factor LVH (low versus high leverage) to quantitatively prove that being long in companies with below median net debt/EBITDA and being short in companies with above net debt/EBITDA can bring abnormal returns (with Sharpe ratio even higher than 0.9 and statistically significant alfa of around 7.7% yearly). What I am going to prove is that due to expansion option companies with low level of debt are outperforming highly leveraged companies in the long run. In this paper I would like to present my own view on level of debt in value creation process. This information will empower the reader with a confident and competent understanding of global macro.Disputes whether financial structure can create value or not were started more than 50 years ago with Modigliani Miller theorem. You will also have a reference guide that will serve as a valuable tool in navigating the various regimes and market conditions. After reading this book, you will understand the basic concepts behind the asset class and ways to trade it. The thorough information provided in Global Macro Trading enables readers to navigate global macro markets with confidence. This information will empower the reader with a confident and competent understanding of global macro.
The book also discusses the role of central banking and the importance of global macroeconomic data releases and demographics as they relate to global macro trading. The reader will be armed with a range of powerful global macro trading and investing strategies that include introductions to discretionary and systematic macro. Global Macro Trading equips the reader with introductions and tools for each of the four asset classes: equities, currencies, fixed income, and commodities. Gliner provides a comprehensive overview of global macro trading, which consists of portfolio construction, risk management, biases, and essentials to query building. Whether you are a retail investor, finance professional, or manage your own portfolio, this book equips you with the knowledge and skills you need to capitalize in global macro. 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.
Global Macro Trading: Profiting in a New World Economy is an indispensable guide for traders and investors who want to trade global macroit provides trading strategies and overviews of the four asset classes in global macro, which include equities, currencies, fixed income, and commodities. Introduces the role of central banking, importance of global macroeconomic data releases and demographics, as they relate to global macro trading.Arms you with a range of powerful global-macro trading and investing strategies, that include introductions to discretionary and systematic macro.
Global macro trading profiting in a new world economy pdf professional#
Brings global macro trading down to earth for individual and professional traders, investors and asset managers, as well being a useful reference handbook
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