on bloomberg ... I am not crying for their managers though ! www.bloomberg.com/apps/news?pid=20601084&sid=aaKYsXhDgBtw&refer=stocks
I thought this was an interesting comment: "``Macro managers have a habit of falling in love with the big-picture thematic view,'' said Philippe Bonnefoy, head of Geneva-based Cedar Partners Investment Management Ltd., a hedge- fund firm that's opening a macro fund. ``The problem is that not every theme is linear.'' For example, Bonnefoy expects oil to eventually reach $100 a barrel. He's not, however, betting on a price-rise right now. ``Macro managers must also be traders,'' he said." Hasn't this been the flaw of so many old-line macro managers? It's not so much about being right, as being right at the right time. Also let's face it, these guys are getting pretty old - it's inevitable that they have lost their touch, or changed the purpose or direction of their funds.
For example, Bonnefoy expects oil to eventually reach $100 a barrel. He's not, however, betting on a price-rise right now. ``Macro managers must also be traders,'' he said." Although hard and confusing to learn, but Elliot Wave, Gann and Market Geometry are a great help in taking macro positions.......although after the fact !!!!!!!!!
"Investors in hedge funds overseen by George Soros, Louis Bacon and Paul Jones would have made more money this year by buying shares of a stock-index mutual fund. " What kind of a statement is that? If they knew before the fact, then why didnt they???
Yet you can't really knock anybody based on 1 yrs worth of returns - 1yr is more a measure of luck than skill imho.