Monetary Matters with Jack Farley 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 and co-founder of Return Stacked ETFs, delves into the evolving landscape of investment management. He argues that merely beating the market is not enough—managers must address client needs more holistically. Corey shares insights on the importance of distribution, the role of educational materials, and how quantitative research can enhance brand visibility. He also emphasizes adapting strategies to changing market conditions and the value of understanding client utility in product design.
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Outperformance Alone Is Not A Product
- Beating the market is a commoditized pitch that rarely sustains asset flows.
- Corey Hoffstein argues products must solve client sustainability problems beyond outperformance.
Breadth Trumps Flashy Wins
- Breadth of bets determines whether a strategy's edge is believable.
- Low-breadth bets like market timing are fragile; high-breadth strategies are more repeatable.
Reevaluate Premia After Structural Shifts
- Routinely reassess factor premia in light of structural market changes.
- Consider how passive flows, fewer IPOs, and ownership shifts alter longstanding risk premia.