The magic of macro...

Much has been made of the relative weakness of the global macro strategy in recent years, falling as it has from what some have described as its 'Halcyon days'.

"The last time there was this level of negative sentiment was in 1999," says Omar Kodmani, senior executive officer at Permal Investment Managers, smiling as he recalls an issue of Business Week, which ran with a cover story asking whether the strategy was dead.

It was a question which has been on the tips of the lips of many others.

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