Global Strategy

Global Strategy is led by Chen Zhao, the firm’s chief global strategist. The focus of the service is to identify major investment opportunities in all asset classes around the globe, provide asset allocation recommendations, and warn against developing major risks.

 

Chen Zhao
Co-founder & Chief Global Strategist
Full Bio >

Global Strategy Deliverables
Weekly Report

Published on Mondays three times a month, the Weekly Report aims at forecasting major market moves, policy shifts, and important changes in economic conditions.

The reports provide actionable investment ideas on how to capitalize on expected changes in market conditions.

Quarterly Strategy Outlook & Asset Allocation

Published at the beginning of each quarter, the Quarterly Outlook & Asset Allocation Strategy provides our assessments on macro themes and major trends in the world economy and financial markets, and highlights our qualitative recommendation on asset allocation strategy.

Special Reports

These are ad hoc in-depth reports that delve into key macro topics. Examples include focus reports on secular trends in global interest rates, the long-term outlook for China’s economy, Trumponomics, and how to time the next financial mania.

Monthly Tactical Asset Allocation Model

A quant-driven asset allocation model runs every month to generate weights of 26 asset markets in 12 developed market countries and emerging market equities. The model portfolio is benchmark-agnostic and designed to maximize absolute returns. The main purpose of the model is to provide a quantitative perspective to clients’ investment decisions.

Previous Global Strategy Research


An Autopsy On U.S. Corporate Profitability – December 16, 2019

Such a sharp divergence between these two corporate profit series has rarely happened. The last time it occurred was in the second half of the 1990s, when NIPA profits fell between 1997 and 2001. However, S&P 500 EBIT behaved differently: It fell in 1997, followed by a two-year surge. It fell again in 2001 when recession hit.


Mulling Over Bear Market, Recession And Recovery – March 30, 2020

However, it is still worth pointing out that both the speed and magnitude of stock price declines is only matched by the 1929 crash. In addition, most sentiment indicators suggest that investors have turned as bearish as they were during the 2008 Global Financial Crisis (GFC).

Global Strategy

Global Strategy is led by Chen Zhao, the firm’s chief global strategist. The focus of the service is to identify major investment opportunities in all asset classes around the globe, provide asset allocation recommendations, and warn against developing major risks.

Chen Zhao
Co-founder & Chief Global Strategist
Full Bio >

Key Deliverables
Weekly Report

Published on Mondays three times a month, the Weekly Report aims at forecasting major market moves, policy shifts, and important changes in economic conditions.

The reports provide actionable investment ideas on how to capitalize on expected changes in market conditions.

Quarterly Strategy Outlook & Asset Allocation

Published at the beginning of each quarter, the Quarterly Outlook & Asset Allocation Strategy provides our assessments on macro themes and major trends in the world economy and financial markets, and highlights our qualitative recommendation on asset allocation strategy.

Special Reports

These are ad hoc in-depth reports that delve into key macro topics. Examples include focus reports on secular trends in global interest rates, the long-term outlook for China’s economy, Trumponomics, and how to time the next financial mania.

Monthly Tactical Asset Allocation Model

A quant-driven asset allocation model runs every month to generate weights of 26 asset markets in 12 developed market countries and emerging market equities. The model portfolio is benchmark-agnostic and designed to maximize absolute returns. The main purpose of the model is to provide a quantitative perspective to clients’ investment decisions.

Previous Research


An Autopsy On U.S. Corporate Profitability – December 16, 2019

Such a sharp divergence between these two corporate profit series has rarely happened. The last time it occurred was in the second half of the 1990s, when NIPA profits fell between 1997 and 2001. However, S&P 500 EBIT behaved differently: It fell in 1997, followed by a two-year surge. It fell again in 2001 when recession hit.


Mulling Over The Bear Market, Recession And Recovery
 – March 30, 2020

However, it is still worth pointing out that both the speed and magnitude of stock price declines is only matched by the 1929 crash. In addition, most sentiment indicators suggest that investors have turned as bearish as they were during the 2008 Global Financial Crisis (GFC).

 

 

 

 

 

 

 

 

“At Alpine Macro, we have brought together some of world’s brightest and most successful Strategists with decades of combined experience with global financial markets. Our clients can rest assured that our team is dedicated to producing the most insightful, relevant and provocative independent investment research you can find.”

– Chen Zhao, Co-founder & Chief Global Strategist