Author Profile
Evans, Richard B.
Almost Heaven? West Virginia State Pension Funds and Investing in Equity
Evans, Richard B.; Bennett, Tate; Kalogeropoulos, Demitri
F-2092 | Published April 17, 2025 | 10 pages Case
Collection: Darden School of Business
This case explores asset allocation of a portfolio and the associated diversification using the West Virginia’s state pension funds’ possible move into equity investments after previously holding only... Read More
Research Affiliates and Dynamic Multifactor Strategies: Time to Time? (PORTUGUESE)
Evans, Richard B.; Pachauri, Abhinav
F-2083 | Published April 24, 2024 | 23 pages Case
Collection: Darden School of Business
This is a Portuguese translation of the August 11, 2021 version of UVA-F-1988. This case explores the dynamic allocation approach to investing, an approach that would time the market based on factors’... Read More
The "It" Factor? Two Sigma, Venn, and Factor Analysis
Evans, Richard B.; Pachauri, Abhinav
F-1989 | Published August 30, 2021 | 17 pages Case
Collection: Darden School of Business
This case follows the protagonist, chief investment officer of a multifamily office, as she debates whether or not Venn, a factor-based portfolio attribution tool developed by quant manager Two Sigma,... Read More
Performance Measurement and Manager Selection
F-1991 | Published August 25, 2021 | 12 pages Technical Note
Collection: Darden School of Business
This note explores the selection of investment managers and the performance-measurement tools associated with this important task. In selecting investment options for a firm’s 401(k) plan, identifying... Read More
Research Affiliates and Dynamic Multifactor Strategies: Time to Time?
Evans, Richard B.; Pachauri, Abhinav
F-1988 | Published August 11, 2021 | 23 pages Case
Collection: Darden School of Business
This case explores the dynamic allocation approach to investing, an approach that would time the market based on factors’ relative valuations. Research Affiliates created a RAFI Dynamic Multifactor US... Read More
China's Stock Market: Understanding Its Boom-and-Bust Cycles
Evans, Richard B.; Yang, Dennis; Qian, Junhui; Deng, Yangmei
F-1985 | Published July 29, 2021 | 40 pages Case
Collection: Darden School of Business
Using the context of a private-bank chief economist preparing for a client call just as the Shanghai Stock Exchange Composite Index (SCI) reached a 29-month high on July 7, 2020, this case places stud... Read More
Rebalancing the Russell Indices: Beta and Volatility
Evans, Richard B.; Schill, Emily
F-1938 | Published July 27, 2021 | 8 pages Case
Collection: Darden School of Business
This case examines the role of beta and volatility in assessing the risk of a portfolio. Students assume the role of a fund manager who is adjusting their portfolio in response to the 2014 reconstitut... Read More
Alpha Architect: Is Momentum Losing Steam?
Evans, Richard B.; Sesia, Aldo
F-1977 | Published June 28, 2021 | 16 pages Case
Collection: Darden School of Business
The case explores the momentum investment strategy of AlphaArchitect, a boutique asset management firm. The protagonist, Wes Grey the CEO of AlphaArchitect, is preparing a potential client presentati... Read More
Squeezed: Citron Capital Shorts GameStop
Evans, Richard B.; Sesia, Aldo
F-1983 | Published June 25, 2021 | 15 pages Case
Collection: Darden School of Business
The case examines the short selling of GameStop by hedge fund Citron Capital. The valuation case for short selling GameStop is explored, along with the actual market mechanics of short selling a stoc... Read More
Risk, Return, and Modern Portfolio Theory
F-1982 | Published June 11, 2021 | 16 pages Technical Note
Collection: Darden School of Business
In this technical note, we examine the concept of diversification and the tradeoff between risk and return in portfolio theory. The note includes a general introduction to normal distribution, then ap... Read More
Divestment as an ESG Tool: CalPERS and Tobacco Stocks (B)
Evans, Richard B.; Yemen, Gerry
F-1949 | Published June 04, 2020 | 2 pages Case
Collection: Darden School of Business
This case uses the California Public Employees’ Retirement System (CalPERS) to set the stage for unfolding an analysis of economics and values in the decision to divest tobacco stocks and bonds from t... Read More
Divestment as an ESG Tool: CalPERS and Tobacco Stocks (A)
Evans, Richard B.; Yemen, Gerry; Kellett, Michael
F-1948 | Published June 04, 2020 | 22 pages Case
Collection: Darden School of Business
This case uses the California Public Employees’ Retirement System (CalPERS) to set the stage for unfolding an analysis of economics and values in the decision to divest tobacco stocks and bonds from t... Read More
The Fine Art of Financing: The JPMorgan Private Bank and Lending Against Art
Evans, Richard B.; Kräussl, Roman; Matos, Pedro; Spaenjers, Christophe
F-1760 | Published May 26, 2016 | 14 pages Case
Collection: Darden School of Business
Due to an increase in the number of wealthy individuals the demand for artwork had increased, and artwork was considered an investment asset. Artwork was listed as a “treasure asset” or an “investment... Read More
Volatility in China's Stock Market: Boom, Bust, Boom...and Bust?
Evans, Richard B.; Qian, Junhui; Yang, Dennis
F-1759 | Published May 13, 2016 | 17 pages Case
Collection: Darden School of Business
With the Shanghai Stock Exchange Composite Index (SCI) dropping 5% at its opening, a circuit breaker was triggered and halted trading for 15 minutes. But when trading resumed, the market continued to ... Read More
CalPERS Absolute Return Strategies: Hedge Fund Risk and Return
Evans, Richard B.; Geissenhainer, Joseph
F-1735 | Published June 29, 2015 | 19 pages Case
Collection: Darden School of Business
This case is suitable for students in both undergraduate and MBA-level investments courses. With an estimated $3 trillion in assets under management, hedge funds have become an important component of ... Read More
Gold as a Portfolio Diversifier: The World Gold Council and Investing in Gold
Matos, Pedro; Evans, Richard B.
F-1675 | Published August 29, 2012 | 14 pages Case
Collection: Darden School of Business
This case is taught in Darden's Investments elective but could be used in introductory Finance classes to explore the concept of diversification of investments or in a portfolio management course as a... Read More
CornerStone Partners
Evans, Richard B.; Menon, Prakash
F-1677 | Published August 17, 2012 | 11 pages Case
Collection: Darden School of Business
Lumina, a foundation focused on increasing both access to and success in higher education for U.S. students, is dealing with the recent resignation of its chief investment officer. The CFO reviews the... Read More
Performance Measurement with Factor Models
F-1673 | Published August 14, 2012 | 9 pages Technical Note
Collection: Darden School of Business
Identifying an appropriate benchmark is an essential step in assessing a manager's performance. In the prospectus or fund advertising materials, a benchmark for the fund is typically identified, and t... Read More
Research Affiliates
F-1662 | Published January 20, 2012 | 22 pages Case
Collection: Darden School of Business
Towers Watson (TW) has always conducted its own research into alternative approaches to market cap investing. A senior investment consultant with TW, impressed by a recent presentation by the CIO of R... Read More
The Oxcel Endowment and Socially Responsible Investing
F-1659 | Published September 06, 2011 | 6 pages Case
Collection: Darden School of Business
College trustees are considering investing a portion of the endowment in a socially responsible investment fund. Recent market events and the poor performance of the endowment have caused the trustees... Read More
Pravda Asset Management
F-1602 | Published August 26, 2009 | 9 pages Case
Collection: Darden School of Business
This case examines the importance of forecasting expected returns in asset allocation decisions. Although the case is targeted to MBA students in an investments or portfolio management course, it is a... Read More
Virginia Investment Partners Optimal Portfolio Allocation
F-1598 | Published August 25, 2009 | 10 pages Technical Note
Collection: Darden School of Business
This technical note provides a simple, yet powerful, optimization exercise to demonstrate the benefits of diversification in a portfolio and the importance of asset allocation. While the note is targe... Read More
Pittinos Financial Advisers, LLC
Lipson, Marc L.; Evans, Richard B.
F-1599 | Published August 24, 2009 | 10 pages Case
Collection: Darden School of Business
The owner of a small financial services firm is evaluating the performance of four funds to determine whether to offer them to his clients. The funds span a variety of objectives and include a recentl... Read More
Liquidity, Mutual Fund Flows, and ReFlow Management, LLC
Evans, Richard; Mills, Michael
F-1600 | Published August 24, 2009 | 10 pages Case
Collection: Darden School of Business
This case examines the importance of liquidity to financial markets, using the dramatic volatility of mutual fund flows in 2008 as an example. While the case is targeted to MBA students in an investme... Read More