Best Corey Hoffstein Podcasts (2025)

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SI355: Drawdowns Don’t Lie, But They May Mislead ft. Alan Dunne 45:57

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5h ago45:57

45:57

Markets have recovered fast - maybe too fast. Alan and Niels unpack what sits beneath the surface: a bond market brushing off record deficits, volatility draining from asset prices, and trend followers caught between sharp reversals and shrinking conviction. They explore how sentiment, structure, and speed are shaping today’s trading environment, a…

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Bonus Interview-Mastering Diversified Carry with Adam Butler 25:20

3d ago25:20

25:20

In this exclusive interview hosted by Advisor Analyst (advisoranalyst.com), Adam Butler dives deep into the mechanics of diversified carry strategies, cross-asset risk management, and return stacking.Adam unpacks the technical and practical definitions of carry, explains how the strategy operates across currencies, bonds, equities, and commodities,…

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OI17: The End of the Bull Market: What’s Next for Equities? ft. Asim Ghaffar 1:09:02

3d ago1:09:02

1:09:02

In this episode, Moritz Seibert speaks with Asim Ghaffar, the founder and CIO of AG Capital, a Boston-based macro hedge fund. Asim explains why he believes insourcing rather than outsourcing the organizational processes of running a hedge fund business is critical and how it can add long-term value to the business. He also describes why sales and b…

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Benn Eifert, Founder and CIO, QVR Advisors 50:44

5d ago50:44

50:44

The clearing price of optionality in the market is impacted by a myriad of factors. To be sure, the economy and corporate profit cycle, the stance of monetary policy and geopolitical risk all matter. Flows in the derivatives markets are also of consequence as they impact the environment for supply and demand. And in this context, it was excellent t…

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Benjamin Hoff – Commodity Futures Surfaces and the Cash-and-Carry Glue (S7E17) 1:11:04

5d ago1:11:04

1:11:04

My guest this episode is Benjamin Hoff, Global Head of Commodity Strategy and Research at Société Générale. Ben started his career in rates before making the jump to commodities, and that lens—shaped by curve arbitrage, convexity, and carry—colors everything he does. In this conversation, we explore how commodities differ fundamentally from other a…

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SI354: Everyone’s Different. Until They’re Not ft. Rob Carver 1:13:24

7d ago1:13:24

1:13:24

With markets drifting and conviction thinning, Rob Carver joins Niels to take stock of a moment that feels suspended... not quite crisis, not quite calm. They discuss why recent rule changes around bank capital and crypto assets may carry more weight than headlines suggest, and what falling shipping volumes might be whispering about global demand. …

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E15. Stacking Returns Without Sacrificing Core Exposure: Introducing RSSX 59:53

8d ago59:53

59:53

Investors seeking exposure to alternatives like gold and Bitcoin face a tough tradeoff: diversify or stay fully invested in stocks and bonds. What if you didn’t have to choose?In this episode, we unveil Return Stacked® U.S. Stocks & Gold/Bitcoin (RSSX) - an ETF designed to deliver long-term capital appreciation by stacking diversified exposures on …

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E14. Reimagining the 60/40 Portfolio, Hard Assets, Bitcoin as Digital Gold & Asset Allocation Strategies 1:02:07

9d ago1:02:07

1:02:07

In this episode hosts Mike Philbrick and Rodrigo Gordillo welcome Mark Valek, partner at Incrementum AG and co-author of the acclaimed In Gold We Trust report. Mark, a seasoned macro investor with decades of expertise at the intersection of gold, monetary policy, and systemic risk, offers deep insights into the evolving roles of gold and Bitcoin. T…

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GM84: What Everyone Saw, but No One Priced ft. Bob Elliott 1:15:26

10d ago1:15:26

1:15:26

Bob Elliott joins Cem Karsan and Niels Kaastrup-Larsen for a conversation about what happens when strong economic data masks a deeper structural shift. The income engine still runs, but tariffs, labor scarcity, and immigration limits are quietly rewiring the system. Inflation may not fall the way people expect. Profit margins may not hold. And capi…

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SI353: You Don’t Buy It for Returns. You Buy It Because It Works! ft. Yoav Git 1:08:30

14d ago1:08:30

1:08:30

Some of the most effective portfolio components may generate little or no return on their own. In this episode, Niels Kaastrup-Larsen and Yoav Git explore that discomfort - why allocators often overlook strategies that offer the most structural value. Through a series of new research papers, they examine how negative correlation, volatility, and ca…

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GM83: The Risk We Forgot to Price ft. Barry Eichengreen 1:01:55

17d ago1:01:55

1:01:55

Barry Eichengreen joins Alan Dunne for a clear-eyed look at a system losing its anchors. The dollar’s standing, long insulated by trust and habit, now faces a different kind of test... one shaped less by challengers abroad than by fractures at home. They explore how rising debt, political entropy, and institutional strain are converging in ways tha…

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John Marshall, Head of Derivatives Research, Goldman Sachs 1:00:46

18d ago1:00:46

1:00:46

It was a pleasure to welcome John Marshall, Head of Derivatives Research at Goldman Sachs, to the Alpha Exchange. Our conversation explores a number of critical topics starting with the meaningful growth of equity funds deploying options as part of a risk management overlay. John describes how covered call ETFs and systematic vol-selling funds have…

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Sayings on Vol and Risk...A Fresh 10 21:05

21d ago21:05

21:05

Greetings and salutations loyal listeners, welcome to what promises to be another exciting addition to our Sayings on Vol and Risk. To set the table, last year, I did a 5-part series with 25 Sayings. These are concise statements I’ve wound up using many times over during the course of my career to help myself and others think about market risk. The…

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SI352: Trend Systems Under Strain ft. Nick Baltas 1:03:38

21d ago1:03:38

1:03:38

Nick Baltas is back with Niels for a conversation that sits at the intersection of technology, uncertainty, and discipline. As AI-generated data floods the system and market reversals grow sharper, the challenge isn’t just strategy design — it’s deciding what still counts as signal. They explore how systematic managers are rethinking volatility tar…

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Dan Villalon, Global Co-Head of Portfolio Solutions, AQR Capital Management 1:05:06

22d ago1:05:06

1:05:06

Today’s world of ETFs and mutual funds increasingly features new flavors, a popular one of which is derived from embedding optionality. There are plenty of ways in which one might contemplate risk managing and shaping the distribution of equity returns using options. Common strategies like overwriting create income, but limit upside. Others like th…

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UGO03: This Isn’t 2008. That’s the Problem ft. Benn Eifert 45:51

24d ago45:51

45:51

Back on the Cboe floor, Cem Karsan sits down with Benn Eifert to trace the fault lines shaping today’s volatility regime. They dig into why market structure, not just macro, is driving outcomes... from the reflexive cycles of implied vol to the growing influence of structured product flows and zero-day options. With correlations breaking down and d…

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SI351: The Two Tribes of Trend ft. Richard Brennan 1:08:49

28d ago1:08:49

1:08:49

As trend followers push through one of the toughest environments in years, Rich and Niels unpack what’s actually driving the pain. They draw a sharp line between two camps in the industry - those who focus on standalone market behavior and those who manage trend as a portfolio-level phenomenon, and explain why that distinction now matters more than…

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E13. In Gold We Trust 2025 - The Big Long 1:00:16

29d ago1:00:16

1:00:16

Return Stacked is back with a deep dive into the world of alternative assets, featuring Mike Philbrick—CEO of ReSolve Asset Management and co-founder of Return Stacked ETFs, and Rodrigo Gordillo, President of ReSolve Asset Management and co-founder of Return Stacked ETFs, both of whom are recognized voices in asset management and diversification. I…

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Mitchell Garfin, Co-Head of Leveraged Finance, BlackRock 54:10

30d ago54:10

54:10

With nearly three decades at BlackRock, Mitch Garfin brings a deep well of experience to his role as Co-head of Leveraged Finance, overseeing high yield and leveraged loan strategies for the firm. In this episode, we explore the evolution of the credit landscape — from structural shifts in the high-yield market that leave indices of higher credit q…

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Sayings on Vol and Risk...A Fresh Five 19:10

1M ago19:10

19:10

In 2024, I did a 5-part podcast series called “25 Sayings on Vol and Risk”. These are observations I’ve found do a nice job of describing how markets work, or perhaps better said, how markets sometimes fail to work. Because markets are always teaching us lessons, I couldn’t help but add to the original 25 with five new sayings. I’ll follow up in sh…

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OI16: Return Stacking: Form, Function & Friction ft. Corey Hoffstein and Adam Butler 1:06:37

1M ago1:06:37

1:06:37

Corey Hoffstein and Adam Butler joins to unpack the mechanics of stacking returns inside an ETF — not as a branding exercise, but as a way to navigate the hard constraints of scale, structure, and investor behavior. They break down how Return Stacked blends top-down replication with a bottom-up trend engine, why most investors misunderstand what re…

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SI350: Why All Roads Lead to Higher Yields ft. Alan Dunne 1:04:55

1M ago1:04:55

1:04:55

Why are markets still priced as if the old world is coming back? Alan Dunne and Niels Kaastrup-Larsen examine the case for structurally higher yields — not as a risk, but as the regime. Drawing from Alan’s recent writing, they trace how debt levels, policy incentives, and investor complacency have converged into a feedback loop that central banks m…

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E12. Rafael Ortega: Using Return Stacking To Build an All-Terrain Portfolio 1:09:46

1M ago1:09:46

1:09:46

In this episode, Rodrigo Gordillo sits down with Rafael Ortega, a distinguished Spanish investor and Senior Investment Fund Manager at Andbank Wealth Management. Known for pioneering innovative portfolio solutions in Spain—from the classic permanent portfolio to advanced return stacking and off-road strategies—Rafael discusses a wide range of topic…

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IL39: Is Trump Making Europe Great Again? ft. Koen De Leus & Philippe Gijsels 55:52

1M ago55:52

55:52

We're diving deep into some serious discussions about the shifting dynamics in Europe, particularly how the political landscape, especially with Trump's influence, is shaking things up. Economists Koen De Leus & Philippe Gijsels who authored a compelling book on the New World Economy, argue that Trump's policies might actually be a wake-up call for…

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SI349: Navigating the Age of Uncertainty with Trend Following ft. Mark Rzepczynski 1:06:21

1M ago1:06:21

1:06:21

In this episode, Niels and Mark Rzepczynski examine a market where the usual relationships have broken down. Bonds offer no shelter, volatility moves without conviction, and political intervention keeps distorting the signals investors rely on. What once served as protection now feels unreliable. Behind the headlines on tariffs, inflation, and erod…

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GM82: The Surprising Success of the U.S. Economy ft. Elroy Dimson & Kiran Ganesh 1:03:23

2M ago1:03:23

1:03:23

America's recent economic performance has been a surprise, as it's managed to outperform many other markets over the last quarter century. We review the insights from the Global Investment Returns Yearbook, discussing how the US has thrived and what that means for future investment strategies. Our guests, Elroy Dimson and Kiran Ganesh, share their …

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Benjamin Bowler, Managing Director and Global Head of Equity Derivatives Research at Bank of America 53:59

2M ago53:59

53:59

As Global Head of Equity Derivatives Research at Bank of America Merrill Lynch, Ben Bowler is helping the firm’s institutional client base understand the complex risk dynamics that impose themselves on today’s markets. His process often leads him across asset classes, looking for linkages and developing stress indices that may provide early warning…

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SI348: The Quiet Cost of Overfitting ft. Andrew Beer 1:15:10

2M ago1:15:10

1:15:10

Andrew Beer returns to confront a moment of reckoning for trend following. As managed futures suffer one of their worst periods in decades, he and Niels explore a deeper question: has the strategy evolved in ways that undermine its edge? From the seduction of short-term models to the unintended consequences of complexity, this conversation traces h…

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E11. Discover RGBM ETF: Diversification That Clients May Actually Stick To 51:22

2M ago51:22

51:22

As financial advisors, we know clients struggle to stay the course with liquid diversifying investments, especially when 60/40 portfolios have been strong. RGBM ETF offers a solution: a 100% global balanced strategy stacked with an additional 100% systematic macro strategy. This 2 for 1 combination is designed to help deliver the diversification yo…

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UGO02: Inequality, Inflation, and the End of Consensus ft. Jim Bianco 1:03:46

2M ago1:03:46

1:03:46

What if the volatility we’re seeing is not a pause in the cycle, but the start of something lasting? In this episode, Cem Karsan sits down with Jim Bianco to unpack the forces reshaping the market and the political landscape around it. From the roots of labor unrest in 1880s Chicago to rising tariffs and inflation today, they trace how decades of p…

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SI347: Stagflation, Storytelling, and the Search for a New Hero ft. Cem Karsan 1:07:31

2M ago1:07:31

1:07:31

Today Cem and Niels dissect a world quietly shifting beneath our feet. As markets hum along, Cem explains why the real story lies beneath the surface: a structural liquidity drain, a creeping stagflation that defies familiar playbooks, and a political regime shift few are pricing in. From Buffett’s exit to dollar fragility, elite endowments tapping…