Introduction:
We’ve been hearing many macro managers and managed futures industry insiders (including myself!) exclaiming that the “decade of macro is finally here!”. But even if this is true, how excited should we be?
In this blog post, we will explore the historical trends and performance of managed futures strategies using the Tech Crisis of 2000 to March 13, 2003 as a case study, and why it may be relevant for the current macro environment. We will also delve deeper into the emotional challenges that investors face during these periods.
Historical Relevance – Why the ‘Tech Crisis’?
Many have recently drawn analogies with the 1970s to try and predict what might be in store for today’s investors, mostly because that’s how long it’s been since the US and much of the West have experienced any meaningful inflation for multiple years.
But there may also be some important lessons to be gleaned from the period of the Tech Cris. ...