In the golden era of macro hedge funds, names like Soros, Robertson, Bacon and Kavner inspired awe. People still talk of Soros as the man who nearly broke the Bank of England. Quietly, these funds are coming back into favor, as so many other hedge funds tank.

Global macro funds actually gained 5 percent on average in 2008 (Hedge Fund Research), notes Bloomberg. Which is amazing given that the average hedge fund lost nearly 20 percent and the average mutual fund lost about 40 percent. This will help them weather the redemption storm. But they're still a far cry from the glory days back in the 1990s. They'll likely struggle as much as any in a deleveraged world. 

For more:
- here's the Bloomberg article

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