A plaque remaining from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem.

Above, a 1934 plaque from the Big Apple Night Club at West 135th Street and Seventh Avenue in Harlem. Discarded as trash in 2006.

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Entry from May 23, 2013
Macro Tourist

"Macro tourist” was defined by the blog Business Insider on APril 4, 2013:

“Note: The term ‘macro tourist’ refers to someone who is not a traditional macro expert stepping out of one’s comfort zone to make big bets based on one’s own (often flawed) notion of economics.”

“Macro” is short for “macroeconoics.” “Macro tourist” has been cited in print since at least 2012. Business Insider, on May 23, 2013, credited hedge fund manager Mark Dow with the coinage.


Macro Man
TMM’s Guide to Macro Tourists
Friday, August 17, 2012
TMM thought so highly of the Mark Dow piece we thought we’d expand upon it and explain a few garden varieties of macro tourists.
(...)
The Credit Manager Turned Macro Manager: ....
The “Big Idea” Guy Turned Macro Manager: ...
Event-Driven Equities Guy Turned Macro Manager: ...
FX Guy Turned Macro Manager: ...

Rates of Interest
I Am Not Going to be A Macro Tourist
By ratesofinterest in Uncategorized on July 3, 2012.
I have been a student of the finance and economics for about 5 years as I have noted in previous posts. However, as a student of both economic and financial theory and the markets at the same time, many things have become quite clear to me. That is what this post is about.

Business Insider
Kyle Bass Slams The ‘Macro Tourists’ Who Are Buying Up Japanese Stocks
Matthew Boesler|Apr. 4, 2013, 12:37 PM|
(...)
Note: The term “macro tourist” refers to someone who is not a traditional macro expert stepping out of one’s comfort zone to make big bets based on one’s own (often flawed) notion of economics.

All About Hedge Funds
Tuesday, 30 April 2013
“Macro tourist” trade
What do Daniel Loeb and Bill Ackman have in common? Both are well known for their hedge fund activist investing. Loeb in the ensuing years has transitioned from activist to macro hedge fund manager; evident from his stellar return in Greek government bonds and most recently, from the Japan trade (initial currency/index trade).

Business Insider
Kyle Bass Helped Cost The University Of Texas Millions Of Dollars, And It’s Hilarious That He’s Attacking ‘Macro Tourists’
Joe Weisenthal|May 23, 2013, 12:53 PM
(...)
“Macro Tourists” is a phrase that was coined by former policy economist and global macro trader Mark Dow to characterize investors who left their comfort zone to make big pronouncements about how macroeconomics really works.

Kyle Bass’s expertise is in private credit, mortgages, and so forth. He recently unveiled an intriguing contrarian bet on a phone book company. This stuff is his wheelhouse. He’s been famously incorrect on Japan blowing up, and his arguments about a “Keynesian endpoint” is a made-up phrase.

So in other words, the term Macro Tourist was originally coined to describe an investor like Bass going from private credit to global economics and sovereign debt. Now slamming other people about this? Hilarious

Posted by Barry Popik
New York CityBanking/Finance/Insurance • Thursday, May 23, 2013 • Permalink