Macro investing strategies available to alternative investment managers. Macro was one of the few hedge fund strategies to have delivered positive returns during both the credit crisis and the tech bubble burst. A global macro strategy is an investment and trading strategy that is based on the interpretation of large macroeconomic events on the national, regional, and global scale. The essential hedge fund strategy is to create a position that maximizes gains while reducing downside risks. Hedge fund investments are usually committed for years to allow the scenarios to play out entirely.