19 episodes

Flirting with Models is the show that aims to pull back the curtain and meet the investors who research, design, develop, and manage quantitative investment strategies.

Join Corey Hoffstein, Chief Investment Officer of Newfound Research, on a journey to explore systematic investment strategies, ranging from value to momentum and merger arbitrage to managed futures.

Episodes released in topic-specific seasons.

For more on Newfound Research, visit ThinkNewfound.com. And to learn about Newfound’s suite of mutual funds and other investment offerings, please visit ThinkNewfoundFunds.com.

Flirting with Models Corey Hoffstein

    • Investing
    • 4.9, 59 Ratings

Flirting with Models is the show that aims to pull back the curtain and meet the investors who research, design, develop, and manage quantitative investment strategies.

Join Corey Hoffstein, Chief Investment Officer of Newfound Research, on a journey to explore systematic investment strategies, ranging from value to momentum and merger arbitrage to managed futures.

Episodes released in topic-specific seasons.

For more on Newfound Research, visit ThinkNewfound.com. And to learn about Newfound’s suite of mutual funds and other investment offerings, please visit ThinkNewfoundFunds.com.

    Corey Hoffstein - Rebalance Timing Luck (S2E11)

    Corey Hoffstein - Rebalance Timing Luck (S2E11)

    My guest today is … me. But rather than interview myself, my co-portfolio manager Nathan Faber joins the podcast to take the reigns.
    In this episode, we talk all things rebalance timing luck. It’s been an obsession of mine for years and something we believe to be a dramatically misunderstood and outright ignored source of risk in portfolios.
    We discuss how we first came across the topic, some recent research into it, important implications for the industry at large, and how we can try to solve for it.
    I hope you enjoy the conversation.

    • 47 min
    Daniel Grioli - Thinking like a Fox (S2E1)

    Daniel Grioli - Thinking like a Fox (S2E1)

    My guest in this episode is Daniel Grioli.  Daniel cut his teeth in the industry at Deutsche Bank in London, where he was responsible for valuing structured equity and hedge fund of fund products targeted at continental Europe.  His timing of joining Deutsche, while perhaps somewhat unfortunate for him, proves fortunate for us as he retells a few war stories and lessons learned from the desk leading into 2008.
    During the crisis, Daniel found himself back in Australia working for a pension fund, where he made a career in manager evaluation, selection, and combination.  That makes Daniel somewhat unique among prior podcast guests, as he provides us some insight into the decision making of capital allocators on the other side of the table.
    The breadth of managers evaluated gave Daniel some unique insights that he shares with us around where he believes the limits of quantitative and discretionary management lie.  He also shares his framework for manager selection, which he calls Via Negativa.  
    Presently, Daniel is leveraging this experience to build what he calls a “best ideas” portfolio, exploiting 13F reporting data to create a high conviction equity portf   olio for his clients.
    Finally, we talk about the i3 podcast that Daniel hosts and some of the most interesting guests he has interviewed.
    Without further ado, my conversation with Daniel Grioli.

    • 1 hr 29 min
    Katherine Glass-Hardenbergh - All About Alternative Data (S2E9)

    Katherine Glass-Hardenbergh - All About Alternative Data (S2E9)

    In this episode I am joined by Katherine Glass-Hardenbergh, Associate Portfolio Manager at Acadian Asset Management.  
    In her role, Katherine focuses heavily on the application of alternative data in Acadian’s fundamentally-driven, systematic investment process.  
    Purported as being one of the leading frontiers of quant finance, there is plenty of hype around alternative data.  Katherine brings refreshing transparency to our conversation, speaking just as candidly about the hurdles in alternative data as the opportunities.
    We discuss everything from what alternative data is, where it comes from, interesting examples in the ever-expanding landscape, some of the practical challenges of working with alternative data, and the many potential applications for use within the investment industry.
    Katherine provides insight into the world of alternative data that only someone deep in the weeds could.  If you’ve ever been curious as to the real-world application of alternative data, this is definitely the episode for you.
    I hope you enjoy our conversation.

    • 49 min
    Chris Meredith – Building a Robust Research Platform (S2E10)

    Chris Meredith – Building a Robust Research Platform (S2E10)

    Chris Meredith is co-Chief Investment Officer and Director of Research at O’Shaughnessy Asset Management.  In this episode, we focus on the latter title and talk all about what it means to develop a strong research program.
    Our conversation centers around what Chris considers to be the three key pillars: data, tools, and people.  
    Chris provides insight into how data sets have changed since the beginning of his career, starting with highly structured price and fundamental data to so-called “pointy,” highly specific data sets and now completely unstructured blobs of information.  He offers his thoughts into how this growing information set represents both an opportunity for researchers as well as a risk, requiring careful forethought into how it is going to be attacked.
    Our discussion of tools covers both the digital and the physical.  We talk about the influence of open-source software, the growing role of machine learning, and the operational benefits of treating each researcher’s laptop like a stand-alone research sandbox. 
    It is easy to tell that while Chris has a passion for the data and tools, he truly believes that they are for naught without the right people and he shares some of his ideas on how to maximize the potential of his team.  Chris also sheds light on the OSAM research partners program, which grants 3rd party researchers access to the OSAM data platform.  This new initiative is a highly unusual approach for a traditionally secretive industry, but early papers coming from their collaborations suggest it may bear significant fruit.
    Please enjoy my conversation with Chris Meredith.

    • 1 hr 4 min
    Liqian Ren - In Search of Modern Alpha (S2E8)

    Liqian Ren - In Search of Modern Alpha (S2E8)

    In this episode I am joined by Liqian Ren, Director of Modern Alpha at WisdomTree.
    After receiving her degree in Computer Science, Liqian came to the United States to pursue her Masters in Economics.  Liqian then did a quick stint at the Federal Bank of Chicago as an associate economist, before returning back to academia to pursue her PhD at the University of Chicago.
    In 2007, Liqian joined Vanguard’s Investment Strategy Group, where she leveraged her background to perform economic and capital market forecasts, studies on asset allocation, and research into topics such as retirement income and investor behavior.
    Liqian eventually transitioned to Vanguard’s Quantitative Equity group, where research efforts were focused on deep, stock-level signals analysis and portfolio construction.  Becoming one of the first to act in a dual capacity research / portfolio manager role, Liqian developed a deep appreciation for implementation-aware research.
    We spend much of our conversation talking about factors in both theory and practice.  We hit subjects such as the risks of delayed implementation, mixed versus integrated portfolio construction, opportunities for factor timing, active versus indexed implementations, and how factors fit within a glide path.
    Finally, we discuss Liqian’s new role at WisdomTree and new areas of research she is excited to pursue.
    I hope you enjoy our conversation.

    • 1 hr 8 min
    Wayne Himelsein - The Quant Philosopher (S2E7)

    Wayne Himelsein - The Quant Philosopher (S2E7)

    In this episode I chat with Wayne Himelsein, president and chief investment officer at Logica Capital.  To our conversation Wayne brings over two decades of experience managing long/short portfolios, ranging from statistical arbitrage to factor long/shorts.
    For as deep in the weeds as he liked to go as a quant, Wayne has a philosopher’s streak and Twitter is his soapbox.  Of course, 280 characters can be limiting, so I start out conversation by putting Wayne in the hot seat and ask him to explain the deeper meanings behind some of his recent tweets.
    Using these philosophies as a foundation, we then dive into long/short portfolios.  We talk about the practical difficulties of managing these strategies and Wayne explains why he believes that beta-neutral is a fool’s pursuit.  
    We then switch topics to tail risk hedging.  These sorts of strategies are notorious for their bleed, and we discuss whether the payoff is ultimately worth the cost of insurance.  Wayne describes a few ways in which the bleed can be managed and the ensuing tradeoffs with each method.  
    In discussing both long/short and tail risk hedging strategies, I ask Wayne what due diligence questions he would ask if he were evaluating another manager.  I find this question always provides great insight into what managers of these strategies actually think is important.  Wayne does not disappoint.
    I hope you enjoy my conversation with Wayne Himelsein.  

    • 1 hr 15 min

Customer Reviews

4.9 out of 5
59 Ratings

59 Ratings

jilliantuttle ,

Better than dating an actual model

Corey is awesome. The topics are relevant. It’s well done. Better than typical podcast “basement radio” production team is top notch and filled with thought leaders. Just listen and learn.

Zackarackadaka ,

High quality in-depth conversations

These are great conversations to learn something new if you enjoy technical/quant oriented investing. They are personal and facinating all the way through.

Randall E. ,

High quality guests and great conversation

I really enjoyed the episodes with Benn Eifert (season 2) and John Alpert (season 1). Each guest was very specific in their respective topics. I found each episode highly informative. Even though I’ve been studying machine learning and investing for the past two years, I picked up a couple of additional pointers from the John Alpert episode (e.g., ensemble models) as well as a few practical tips. The host asks really good questions and allows the guests a lot of room in their answers. However, the answers are more insightful and educational than in many other investment podcasts were guests frequently talk their own book and ramble. I have not listened to all episodes (not every topic is of personal interest) but the ones I have listened to have high production values (audio and content quality) and were in fact worthy of a second listen. Looking forward to the new season coming up!

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