Their global macro strategies invest across not only the globe but across different asset classes.

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Also true, if you fall into the trap of trying to use ETFs to execute tricky macro strategies.

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Macro strategies, however, are no magic bullet for making money in today's markets.

WSJ: 'Macro' Forces in Market Confound Stock Pickers

Rob Robis, portfolio manager and head of global macro strategies at ING, says he doesn't expect a sustained sharp rise in interest rates soon.

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Not quite, say the principals of Positive Delta Asset Management, an investment firm in Los Angeles that manages capital through global macro strategies and runs a strategy on Wealthfront.

FORBES: Jim Cramer's Mad Money Diversification: An Idea Gone Astray

Now Forbes is offering an inside look at global macro hedge fund strategies in a new publication, Inside Global Markets.

FORBES: Magazine Article

The universe of hedge fund asset classes is very deep and includes convertible arbitrage, distressed mortgage, long-short equity and global macro, among many other complex strategies.

FORBES: Hedge Funds Back In Style, What Advisors Should Know

Macro hedge funds use tactical asset allocation strategies in an attempt to bet the markets.

FORBES: More Bad News for Market Timers