Tim Riley
Associate Professor
University of Arkansas
Sam M. Walton College of Business
Department of Finance
Fayetteville, AR 72701
tbriley@uark.edu
Tim Riley completed his Ph.D. in Finance at the University of Kentucky in 2014. After graduation, he spent two years as a financial economist at the U.S. Securities and Exchange Commission where he worked on mutual fund liquidity regulation. He is currently an associate professor in the Department of Finance at the University of Arkansas. His research is focused on mutual funds, hedge funds, and other managed portfolios and has been published in journals including Journal of Financial Economics, Journal of Financial and Quantitative Analysis, Critical Finance Review, and Financial Analysts Journal. Tim’s work has been featured by national media outlets such as The Wall Street Journal, Bloomberg, and Morningstar. For undergraduate students, he teaches both a general course on investments—focusing on stock and bond markets—and an advanced investments course—focusing on derivatives. For graduate students, he leads a doctoral seminar covering empirical asset pricing and the investment management industry. Tim is an active CFA® charterholder.
Media Coverage
Fees on Mutual Funds and ETFs Tumble Toward Zero The Wall Street Journal
Looking for a Risk-free Way to Boost Your Investment Returns CBS News
3 Academics Take Active Managers’ Side Morningstar
'Conventional Wisdom' on Active All Wrong: Academics Ignites
Restoring Balance, and Accuracy, With a New Narrative on Active Management Ignites
Is Now the Time for Active Investing to Make a Comeback? The Wall Street Journal
Martijn Cremers: In Active Management, It's Not the '90s Anymore ThinkAdvisor
Academic Survey Says Active Management Creates Value for Investors After All Wealth Management
Shareholder Value Could Be Worse Bloomberg
Active Managers Don't Get Enough Credit, Study Says FA Online
Research links: Convex vs. Concave Returns Abnormal Returns
Perfect Memories and Rewarding Incompetence Bloomberg
Active vs. Passive Redux: How Far Should Managers Go? Morningstar Magazine
Thursday links: Being a Good Listener Abnormal Returns
Swedroe: How To Use Benchmarks ETF.com
Benchmark Bandits! How Some Funds Game Active Share Citywire
Misuse of Benchmarks Is Rife and Shouldn't Be Tolerated The Evidence-Based Investor
Epic Spotlight: Tim Riley Walton Today
Episode 8 - Tim Riley on the Value of Active Management ...For Advisors
One Sign That Outperforming Active Managers Will Continue to Outperform Institutional Investor
Active Share, Past Outperformance Can Predict Returns Financial Standard
Can Active Managers Beat the Market? Walton Insights
‘Lumpen Mass of IFAs’ Aren’t Wrong to Choose Active Money Marketing
Go Anywhere Funds Lack That Get Up and Go: Vanguard BoardIQ
Reddit-Fueled Stock Inflation Provided Quick Profits Before End of Meteoric Rise The Arkansas Traveler
Student Startup MORE Technologies Closes Acquisition Deal With Sphero University of Arkansas News
Active Share As a Predictor of Future Performance The Evidence-Based Investor
A Way to Select Outperforming Mutual Funds Advisor Perspectives
AMC Has Some Clever APEs Bloomberg
The Complex Materiality of ESG Ratings Harvard Law School Forum on Corporate Governance
Hold the Ratings: ESG Funds Outperform If They Use More Data Ignites
Beyond the False Dichotomy of Active Versus Passive Investments & Wealth Monitor
Consulting
Investment Adviser Association
Challenging the Conventional Wisdom on Active Management: A Review of the Past 20 Years of Academic Literature on Actively Managed Mutual Funds
SSRN or Financial Analysts Journal
Natixis Investment Managers
Researching the Value of Active Management
Data & Code
Cremers, Martijn, Jon Fulkerson, and Timothy Riley. 2022. Benchmark Discrepancies and Mutual Fund Performance Evaluation. Journal of Financial and Quantitative Analysis 57 (2), 543-571.
Benchmark Mismatch (March 1979 through September 2023)
***Active share data and code is available on Martijn Cremer's website***
Riley, Timothy. 2021. Can mutual fund stars still pick stocks?: A replication and extension of Kosowski, Timmermann, Wermers, and White (2006). Critical Finance Review 10 (2), 251-261.
Jordan, Bradford, and Timothy Riley. 2015. Volatility and mutual fund manager skill. Journal of Financial Economics 118 (2), 289-298.
LVH Factor (January 1927 through December 2023)
