This podcast episode delves into the intricate workings of a macro fund, highlighting the significance of news-driven discretion in trading and examining the roles of various market participants, including CTAs and retail traders. Saad articulates how understanding market efficiency, sell-side research, and the effects of popular trading movements like the meme stock phenomenon are crucial for navigating today’s complex financial landscape. He stresses the need for adaptability and consistency amidst these evolving market dynamics.