Other People's Money with Max Wiethe Why Beating the Market Isn’t Enough for Investment Managers | Corey Hoffstein
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Nov 13, 2025 
Corey Hoffstein, CEO and CIO of Newfound Research, shares insights from his journey in investment management. He argues that simply beating the market is no longer enough for success. Instead, he emphasizes the importance of addressing clients' needs and the crucial role of distribution. Corey delves into the differences between quantitative and systematic investing, the impact of market bubbles, and how new strategies like Return Stacked ETFs can enhance client utility. He also highlights the significance of educational content in building advisor relationships.
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Beating The Market Isn’t Enough
- Beating the market is a commoditized value proposition for product launches.
- Products must solve additional client sustainability problems to attract assets.
Market Timing Has Low Breadth
- Market timing is low-breadth and hard to prove statistically.
- A single good timing call can make a career, but it's unreliable as a repeatable strategy.
Judge Strategies By Breadth
- Evaluate a strategy's breadth to judge repeatability and robustness.
- Prefer strategies diversified across many bets with clear fundamental reasons.