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The Macro Funds' Big Greek Gamble
Markets around the world start the week bracing for trouble as Greece spirals further into crisis. Can the country avoid a full-blown default? Will there be a Grexit? Will it stay in the euro zone and keep the single currency? It all looks like an unknowable gamble. Which leads us to this question: How big a challenge is it to make big bets about big macro questions at big hedge funds? Based on what we have seen so far, the short answer is: It is extremely challenging. Indeed, macro funds have been doing poorly throughout this recovery cycle, despite big events and broad trends. You might think this environment would ... (full story)