How We Help Portfolio Managers & Individual Investors?

An independent investment research firm that applies a market cycle approach to identifying opportunities across asset classes, commodities, and sectors to identify company specific long and short ideas through market cycles.

In addition to offering written research reports, First Macro Capital provides consulting services to its institutional clients. The consulting services that allow for direct access to Paul regarding his outlook on sectors and stocks or on any specific topics of interest you have. For more details, please email us at

Who is Paul Farrugia?

  • First Macro Capital is led by Paul Farrugia,  President & CEO.
  • He was an Associate Portfolio Manager and Vice President of Investment Research for a multiple award-winning portfolio manager in Canada and was a mining consultant for a hedge fund manager of the year.
  • Paul and his team contribute trade ideas to some of the largest quantitative hedge funds in North America and the UK.
  • He is a graduate of the University of Toronto with a Bachelor of Commerce.

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