Corey Hoffstein: “Things Are Going to Stay Weird”

Published on
March 10th, 2021
Duration
35 minutes

Growth’s Eye-Popping Snapback and the $86 Billion Pension Bailout


Corey Hoffstein: “Things Are Going to Stay Weird”

Daily Briefing ·
Featuring Jack Farley, Max Wiethe, and Corey Hoffstein

Published on: March 10th, 2021 • Duration: 35 minutes

Real Vision editors Jack Farley and Max Wiethe analyze price action in U.S. equities as well as today’s print of the Consumer Price Index, which met but did not exceed expectations and indicates muted inflation. In the main segment, Jack speaks to Corey Hoffstein, co-founder and chief investment officer of Newfound Research. Using advanced quantitative modeling, Corey charts the rotation from growth to value stocks and notes how the underperformance of “momentum” investing is evidence of that very rotation. Corey investigates the claim that growth stocks are vulnerable to increases in interest rates, which he finds true but incomplete. Lastly, Hoffstein shares his view on the vulnerability of the Ark Innovation ETF ($ARKK) to bouts of reflation, looking at metrics such as implied correlation and implied volatility. Corey can be reached on Twitter at @choffstein.