![]() US financial conditions also remain loose and for equity direction this week it is important to watch whether the US 10-year yield can break the 4.5% level. Defensive sectors continue to outperform cyclical sectors. You can find out more about Alex on his LinkedIn account here and also find him on Twitter where he frequently shares his market research.The Saxo Quick Take is a short, distilled opinion on financial markets with references to key news and events.Įquities: S&P 500 futures closed last week at the worst closing price since June, but the index futures are attempting to rebound this morning trading around the 4,371 level. Macro Ops’ research has been featured in Forbes, Marketwatch, Business Insider, and Real Vision as well as a number of other leading publications. Macro Ops is a market research firm geared toward professional and experienced retail traders and investors. He’s published over 300 white papers on complex financial and macroeconomic topics, writes regularly about investment/market trends, and frequently speaks at conferences on trading and investing. He’s been professionally involved in markets since 2005, has consulted with a number of the leading names in the hedge fund space, and now manages his own family office while running Macro Ops. He also spent time consulting for a tech company that specialized in building analytic software for finance and intelligence analysis.Īfter leaving the field of intelligence he went to work at a global macro hedge fund. Following his military service, he worked as a contract intelligence professional for a number of US agencies (from the DIA to FBI) with a focus on counterintelligence and terrorist financing. Serving in various capacities from scout sniper to interrogator and counterintelligence specialist. He subsequently spent a decade in the military. Alex joined the US Marine Corps on his 18th birthday just one month after the 9/11 terrorist attacks. Mackay’s “Extraordinary Popular Delusions and the Madness of Crowds”įounder and head macro trader at Macro Ops. ![]() Why do people bet on markets? And why does this speculation always spiral out of control? Chancellor takes his shot at explaining this phenomenon from a combination of a sociological and psychological standpoint. In Devil Take The Hindmost Edward Chancellor takes a deeper look at the psychology behind the booms and busts we’ve come to love. This book once again proves why that’s true. You can’t avoid them because you can’t avoid human nature. Speculative bubbles are an integral part of financial systems across history. ![]() Kindleberger’s “ Manias, Panics, and Crashes”Ĭharles Kindleberger’s Manias, Panics, and Crashes once again dissects the centuries of credit booms and busts that have lead to financial crises. Reinhart covers government defaults, inflationary spikes, unemployment rates, equity prices, and much more to show the similarities between all these events and why they’re bound to happen again and again. In This Time Is Different economist Carmen Reinhart conducts a comprehensive study of financial crises across 66 countries in 5 different continents over 8 centuries. Carmen Reinhart’s “ This Time Is Different”Īs long as we continue to have credit cycles, we’ll continue to have financial crises. Dalio’s “Economic Machine” is the foundation of the macroeconomic theory we use to analyze markets right here at Macro Ops. Booms, busts, and everything inbetween fit into Dalio’s view of credit and the short and long-term debt cycles it creates. The reason for the fund’s success stems from Dalio’s deep understanding of the true driver of economies: credit. ![]() Ray Dalio is the founder of Bridgewater Associates - the #1 most successful hedge fund of all time. Ray Dalio’s “How The Economic Machine Works” This knowledge will help you stand apart from the crowd and form profitable “smart contrarian” opinions that will put you ahead of the game. Studying these instances will show you that humans tend to repeat similar periods of economic delusion time and time again. The books below cover various episodes of credit driven speculation throughout history. If your goal is to become a master global macro trader or investor, then you need to become a devout student of economic history.
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