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The MacroStrategy Partnership is a three man research boutique with over 70 years of experience in global markets.


We operate an annual subscription, voting or bespoke service.  Subscribers receive a variety of research from all 3 partners including:


·        a thematic daily from Andy

·        regular meetings in UK, Europe and US

·        In depth research pieces and ad-hoc research reports fortnightly from each partner

·        Active Recommendations

J A M E S   F E R G U S O N


Banks and monetary specialist


– global macro through the lens of the banks

A N D Y   L E E S


deep dive macro issues like productivity and energy efficiency

J U L I E N   G A R R A N


drivers of liquidity and global capital flows and their implications for global investing in Europe, the UK and the US

Why pay for independent research?


Investors often ask question “why should we pay for research, when brokers will provide it to us for free?” Our answer is simple: high quality research is vital ingredient in any key investment decision and that quality is reflected in the price. In our view, there is no such thing as ‘free’ research. Investors pay for broker research, often whether they want it or not, through dealing spreads and commissions. This entire function is being addressed by regulators and the introduction of MiFid, will create a further push to transparency.


Research departments at brokers are a significant cost base to their businesses, and rarely fully independent. In our experience, quality has deteriorated as cost pressures have risen. The alternative is to purchase independent analysis from a high quality, thought provoking and fully independent consultancy, with a proven track record for accuracy and timeliness. If such a purchase helps managers to make better investments decisions & to avoid capital losses, then paying for good research makes good business.

Bespoke service – we are happy to discuss enhanced services on a bespoke basis for clients that would like a greater depth of support and access – from regular calls and conference calls, multiple points of contact and bespoke work and presentations.


Please contact us if you would like to discuss our work, subscription options or to arrange a trial.

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