Global Macro Hedge Fund

Hedge funds allow investors to pool money and put the collected cash under the control of managers, who (presumably) have better knowledge and investing skills than the clients trusting them with their dough.

Hedge funds distinguish themselves in various ways. Some are managed by well-known investors with long track records, taking advantage of a kind of star appeal. Others have particular niches they concentrate on, targeting different strategies and market subsets.

A global macro hedge fund takes an extreme wide view. They allow themselves to invest in pretty much any sector or region (hence, the "global" part), in order to respond to large, sweeping economic or political trends (that's the "macro" part, as in macroeconomics).

See: Global Macro Strategy.