(Repeat without modification. The opinions expressed here are those of the author, a columnist for Reuters.)

ORLANDO, Fla., Oct 9 (Reuters) – “Buy dollars, wear diamonds,” goes an old forex market adage.

It also summarizes macro hedge funds’ trading strategy today – while most investors were smoked out in the third quarter as stocks, bonds and commodities slumped, macro funds have benefited thanks to the strengthening US dollar.