Macro hedge funds use tactical asset allocation strategies in an attempt to bet the markets.

FORBES: More Bad News for Market Timers

Some advisors have outsourced tactical asset allocation decisions to sub-advisors who run model portfolios using index funds and ETFs.

FORBES: More Advisors Suffer from Alpha Delusion

Armed with index funds and strategies like sector rotation, relative value and tactical asset allocation, these advisers all attempt to earn their keep by beating benchmarks net of fees.

FORBES: A Magical Tax-Loss Harvesting Machine?