Last 3 years has shown that to be a good investor you need to know macroeconomics, specially in context of USA which bring stuff interest rate, QE, bonds pricing, commodity prices, and many similar things which are interconnected. I have lot of general knowledge but I want to be at an expert level of knowledge in predicting/understanding what feds, markets, rates are gonna do and why.
Ask HN: How can I learn macroeconomics properly?
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Re: Ask HN: How can I learn macroeconomics properly?
#2There are 2 groups of people who spend a lot of time thinking about macro economics.
1) Professors who compete for prestige and make fun sounding theories like MMT and tend to have very little skin in the game if their theories create value.
2) Portfolio managers who stand to make or lose enormous sums of money if they can make detailed and accurate predictions based off of macroeconomic analysis.
I'd rather spend my time listening to group 2. If you want to listen to what people like that are thinking about markets in real time, there are plenty of youtube channels and podcasts where you can do that:
Recently my favorite is blockworks Macro (diverged off a crypto channel but this is their non crypto macro content) https://www.youtube.com/channel/UCkrwgzhIBKccuDsi_SvZtnQ
If you want to understand what some of the lingo and concepts mean, NPRs whiteboard series is where I send most people
https://www.youtube.com/watch?v=qF11rk1M_Rw&list=PLA33D9F40D...
Source: I have a degree in economics and trade my own money.
Re: Ask HN: How can I learn macroeconomics properly?
#3I recommend watching the pensioncraft videos on YouTube, created by an ex USB macro strategist
Re: Ask HN: How can I learn macroeconomics properly?
#4Go to your local library and check out some Econ books. There’s got to be some Econ classes available online as well.
Economics is one of the most important disciplines to understand even at a base level. So much of the world and human behavior can be explained in terms of supply and demand.
Re: Ask HN: How can I learn macroeconomics properly?
#5There are 2 groups of people who spend a lot of time thinking about macro economics. 1) Professors who compete for prestige and make fun sounding theories like MMT and tend to have very little skin in the game if their theories create value. 2) Portfolio managers who stand to make or lose enormous sums of money if they can make detailed and accurate predictions based off of macroeconomic analysis. I'd rather spend my…
good distinction. 'applied' macroeconomics is what I really want
Re: Ask HN: How can I learn macroeconomics properly?
#6This might be a specific aspect of Global Macro investing, but if you are interested in Risk Parity strategies (as popularized and adopted by Bridgewater), below two books by Alex Shahidi of Evoke Advisors cover Risk Parity asset allocation in great detail:
1) Risk Parity: How to Invest for All Market Environments
2) Balanced Asset Allocation: How to Profit in Any Economic Climate
Re: Ask HN: How can I learn macroeconomics properly?
#7Before I answer the question, let me preface this by saying that I'm no expert.
I've always felt that macroeconomics is a subject that's best learned from a tutor. There are so many different concepts in macroeconomics that you need to get a good grasp on. Each of these concepts are equally as important as each other and there are so many of them that it's hard to learn everything on your own. You can read all the textbooks and see all the YouTube videos you want but there is nothing like having someone highly specialized teach you the material and help you apply it.
If you don't have the time or money for a tutor, try taking a macroeconomics course at a local community college. This option will be cheaper than hiring a private tutor but still provide you with the guidance and direction you need to learn macroeconomics properly.
Best of luck!
Re: Ask HN: How can I learn macroeconomics properly?
#8I recommend watching the pensioncraft videos on YouTube, created by an ex USB macro strategist
Did you mean UBS perhaps? :-)
Re: Ask HN: How can I learn macroeconomics properly?
#9First, it's important to remember that many macroeconomists are economists, and many are not.
Economists focus on the economy and how it affects individuals, businesses, and society as a whole. Macroeconomists look at the big picture: GDP growth, unemployment, inflation, productivity growth, business cycles, and so on.
Macroeconomics is the study of how national economies work. It looks at things like gross domestic product (GDP), unemployment rates, and inflation rates.
It also tries to figure out why some countries have high or low economic growth rates compared to others.
The key question macroeconomists ask is: How can I learn macroeconomics properly?
Re: Ask HN: How can I learn macroeconomics properly?
#10I tried to follow https://mru.org/ for a while and I liked the format.