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Global macro hedge fund returns fail to impress

Reuters – Some of the hedge fund industry’s best-known “macro” hedge fund managers — celebrated for shrewd bets on global economic events — are struggling this year to generate returns befitting their star status.

In a 2011 littered with market-moving events such as the euro zone debt crisis and sweeping central bank action, veteran managers such as Louis Bacon and Paul Tudor Jones might have been expected to book record profits.

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