Richard M. Levich

New York University - Stern School of Business

Professor, Finance and International Business

Stern School of Business

44 West 4th Street

New York, NY 10012-1126

United States

National Bureau of Economic Research (NBER)

1050 Massachusetts Avenue

Cambridge, MA 02138

United States

SCHOLARLY PAPERS

36

DOWNLOADS
Rank 3,095

SSRN RANKINGS

Top 3,095

in Total Papers Downloads

9,777

CITATIONS
Rank 2,532

SSRN RANKINGS

Top 2,532

in Total Papers Citations

221

Scholarly Papers (36)

1.

1998 Survey of Derivatives and Risk Management Practices by U.S. Institutional Investors

FIN Working Paper No. 99-074
Number of pages: 44 Posted: 01 Mar 2000
Richard M. Levich, Gregory S. Hayt and Beth A. Ripston
New York University - Stern School of Business, Rutter Associates LLC and KPMG LLP, Montvale
Downloads 1,382 (9,596)
Citation 9

Abstract:

2.
Downloads 811 ( 19,994)
Citation 23

Do Professional Currency Managers Beat the Benchmark?

Number of pages: 37 Posted: 21 Dec 2007
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 754 (25,275)
Citation 23

Abstract:

Foreign Exchange, Hedge Funds, Style Investing

Do Professional Currency Managers Beat the Benchmark?

NBER Working Paper No. w13714
Number of pages: 38 Posted: 31 Dec 2007
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 57 (309,502)
Citation 23

Abstract:

Do Professional Currency Managers Beat the Benchmark?

Financial Analysts Journal, Vol. 64, No. 5, 2008
Posted: 24 Sep 2008
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business

Abstract:

Alternative Investments, Hedge Fund Strategies, Portfolio Management, Hedge Fund Strategies, Performance Measurement and Evaluation, Performance Measurement

3.
Downloads 892 ( 20,132)
Citation 6

Do Foreign Exchange Markets Still Trend?

Journal of Portfolio Management, Vol. Fall, 2007
Number of pages: 16 Posted: 10 Dec 2006 Last Revised: 14 Jan 2009
Kuntara Pukthuanthong, Richard M. Levich and Lee R. Thomas
University of Missouri, Columbia, New York University - Stern School of Business and Investcorp - London Office
Downloads 699 (28,152)
Citation 5

Abstract:

foreign exchange, technical trading

Do Foreign Exchange Markets Still Trend?

NYU Working Paper No. FIN-06-030, Journalof Portfolio Management, Vol. 34, No. 1, 2007
Number of pages: 16 Posted: 03 Nov 2008 Last Revised: 07 Nov 2011
Kuntara Pukthuanthong, Richard M. Levich and Lee R. Thomas III
University of Missouri, Columbia, New York University - Stern School of Business and affiliation not provided to SSRN
Downloads 193 (128,688)
Citation 6

Abstract:

Underpricing of New Equity Offerings by Privatized Firms: An International Test

NYU Salomon Center Working Paper No. S99-5
Number of pages: 46 Posted: 10 Feb 1999
Richard M. Levich and Qi Huang
New York University - Stern School of Business and Hofstra University - Department of Finance
Downloads 768 (24,629)
Citation 14

Abstract:

Underpricing of New Equity Offerings by Privatized Firms: An International Test

NYU Working Paper No. FIN-99-075
Number of pages: 52 Posted: 11 Nov 2008
Qi Huang and Richard M. Levich
Hofstra University - Department of Finance and New York University - Stern School of Business
Downloads 112 (203,950)
Citation 14

Abstract:

Privatization, Underpricing, Initial public offerings, State-owned-enterprises

5.
Downloads 723 ( 27,256)
Citation 5

Detecting Crowded Trades in Currency Funds

Number of pages: 39 Posted: 14 Dec 2009 Last Revised: 29 Aug 2010
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 570 (37,085)
Citation 5

Abstract:

Foreign Exchange, Hedge Funds, Style Investing, Crowded Trades

Detecting Crowded Trades in Currency Funds

NYU Working Paper No. 2451/29545
Number of pages: 37 Posted: 08 Feb 2010
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 127 (185,236)
Citation 5

Abstract:

Detecting Crowded Trades in Currency Funds

NBER Working Paper No. w15698
Number of pages: 38 Posted: 01 Feb 2010
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 26 (422,592)
Citation 5

Abstract:

Detecting Crowded Trades in Currency Funds

Financial Analysts Journal, Vol. 67, No. 1, 2011
Posted: 23 Jan 2011
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business

Abstract:

Alternative Investments, Hedge Funds, Economics, Currency Exchange Rates, Foreign Exchange Market, Portfolio Management, Alternative Investment Portfolio Management Strategies

6.

Technical Trading, Predictability and Learning in Currency Markets

NYU Working Paper No. 2451/31452
Number of pages: 45 Posted: 28 Jan 2012 Last Revised: 10 Sep 2013
Valerio Potì, Richard M. Levich and Pierpaolo Pattitoni
University College Dublin, New York University - Stern School of Business and University of Bologna - Department of Management
Downloads 619 (24,306)

Abstract:

7.
Downloads 391 ( 60,334)
Citation 3

Predictability and 'Good Deals' in Currency Markets

Number of pages: 54 Posted: 22 Dec 2008
Richard M. Levich and Valerio Potì
New York University - Stern School of Business and University College Dublin
Downloads 252 (98,549)
Citation 3

Abstract:

Foreign Exchange, Predictability, Filter Rules, Market Efficiency

Predictability and 'Good Deals' in Currency Markets

NYU Working Paper No. FIN-08-007
Number of pages: 51 Posted: 09 Mar 2009
Richard M. Levich and Valerio Potì
New York University - Stern School of Business and University College Dublin
Downloads 121 (192,394)
Citation 3

Abstract:

Predictability and 'Good Deals' in Currency Markets

NBER Working Paper No. w14597
Number of pages: 55 Posted: 29 Dec 2008
Richard M. Levich and Valerio Potì
New York University - Stern School of Business and University College Dublin
Downloads 18 (467,814)
Citation 3

Abstract:

8.

The Impact of Currency Exposure on Institutional Investment Performance: The Good, the Bad, and the Ugly

Number of pages: 51 Posted: 16 Jan 2014
Momtchil Pojarliev, Richard M. Levich and Ross M. Kasarda
Fischer Francis Trees & Watts, Inc., New York University - Stern School of Business and Virginia Retirement System
Downloads 345 (48,913)

Abstract:

Foreign Exchange, Portfolio Construction, Alpha Generation, Risk Budgeting

9.

A New Look at Currency Investing

CFA Institute Research Foundation Monograph
Number of pages: 106 Posted: 01 Mar 2015
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 305 (30,905)

Abstract:

currency investing, carry trade, trend-following, value strategies

Active Currency Management Part II: Is There Skill or Alpha in Currency Investing?

NYU Working Paper No. FIN-11-002
Number of pages: 47 Posted: 01 Aug 2011
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 252 (98,549)
Citation 2

Abstract:

Foreign Exchange, Hedge Funds, Manager Selection

Is There Skill or Alpha in Currency Investing?

NYU Working Paper No. 2451/29936
Number of pages: 47 Posted: 26 Jun 2013
Richard M. Levich and Momtchil Pojarliev
New York University - Stern School of Business and Fischer Francis Trees & Watts, Inc.
Downloads 44 (349,022)
Citation 2

Abstract:

Evidence on Financial Globalization and Crises: Interest Rate Parity

NYU Working Paper No. 2451/29949
Number of pages: 31 Posted: 09 Sep 2011
Richard M. Levich
New York University - Stern School of Business
Downloads 189 (131,323)

Abstract:

Evidence on Financial Globalization and Crises: Interest Rate Parity

NYU Working Paper No. 2451/29949
Number of pages: 31 Posted: 16 Feb 2012
Richard M. Levich
New York University - Stern School of Business
Downloads 91 (236,112)

Abstract:

Trades of the Living Dead: Style Differences, Style Persistence and Performance of Currency Fund Managers

Number of pages: 47 Posted: 19 Sep 2008
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 148 (163,517)
Citation 16

Abstract:

Foreign Exchange, Hedge Funds, Style Investing

Trades of the Living Dead: Style Differences, Style Persistence and Performance of Currency Fund Managers

NYU Working Paper No. FIN-08-005
Number of pages: 47 Posted: 09 Mar 2009
Richard M. Levich and Momtchil Pojarliev
New York University - Stern School of Business and Fischer Francis Trees & Watts, Inc.
Downloads 103 (216,773)
Citation 16

Abstract:

Trades of the Living Dead: Style Differences, Style Persistence and Performance of Currency Fund Managers

NBER Working Paper No. w14355
Number of pages: 48 Posted: 23 Sep 2008
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 16 (479,297)
Citation 16

Abstract:

13.

Is There Skill or Alpha in Currency Investing?

Midwest Finance Association 2012 Annual Meetings Paper
Number of pages: 47 Posted: 19 Sep 2011 Last Revised: 21 Sep 2011
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 194 (113,717)
Citation 1

Abstract:

Foreign Exchange, Hedge Funds, Manager Selection

14.

The Significance of Technical Trading-Rule Profits in the Foreign Exchange Market: a Bootstrap Approach

NBER Working Paper No. w3818
Number of pages: 36 Posted: 19 Jul 2000
Richard M. Levich and Lee R. Thomas
New York University - Stern School of Business and Investcorp - London Office
Downloads 175 (125,941)
Citation 77

Abstract:

15.

Hunting for Alpha Hunters in the Currency Jungle

NYU Working Paper No. 2451/31552
Number of pages: 11 Posted: 31 May 2012
Richard M. Levich and Momtchil Pojarliev
New York University - Stern School of Business and Fischer Francis Trees & Watts, Inc.
Downloads 149 (151,042)

Abstract:

16.

Are All Currency Managers Equal?

NYU Working Paper No. 2451/29835
Number of pages: 30 Posted: 08 Nov 2010
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 130 (156,847)
Citation 4

Abstract:

FX Market Metrics: New Findings Based on CLS Bank Settlement Data

Number of pages: 66 Posted: 08 Feb 2017
Joel Hasbrouck and Richard M. Levich
New York University (NYU) - Department of Finance and New York University - Stern School of Business
Downloads 99 (222,974)

Abstract:

Foreign exchange, CLS Bank, market microstructure, liquidity

FX Market Metrics: New Findings Based on Cls Bank Settlement Data

NBER Working Paper No. w23206
Number of pages: 66 Posted: 22 Mar 2017
Joel Hasbrouck and Richard M. Levich
New York University (NYU) - Department of Finance and New York University - Stern School of Business
Downloads 8 (524,544)

Abstract:

18.

Fx Counterparty Risk and Trading Activity in Currency Forward and Futures Markets

NYU Working Paper No. 2451/31551
Number of pages: 32 Posted: 31 May 2012 Last Revised: 10 Sep 2013
Richard M. Levich
New York University - Stern School of Business
Downloads 99 (211,293)
Citation 1

Abstract:

19.

International Accounting Diversity: Does it Impact Market Participants?

NBER Working Paper No. w3590
Number of pages: 23 Posted: 31 May 2004
Frederick D. S. Choi and Richard M. Levich
New York University and New York University - Stern School of Business
Downloads 91 (205,719)
Citation 11

Abstract:

20.

Internationally Diversified Bond Portfolios: The Merits of Active Currency Risk Management

NBER Working Paper No. w4340
Number of pages: 37 Posted: 27 Apr 2000
Richard M. Levich and Lee R. Thomas
New York University - Stern School of Business and Investcorp - London Office
Downloads 73 (254,024)
Citation 2

Abstract:

21.

Evaluating Absolute Return Managers

Number of pages: 17 Posted: 01 Oct 2013
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 69 (241,114)

Abstract:

Hedge Funds, Alpha and Beta Separation, Style Investing

22.

Empirical Studies of Exchange Rates: Price Behavior, Rate Determinationand Market Efficiency

NBER Working Paper No. w1112
Number of pages: 111 Posted: 27 Apr 2000
Richard M. Levich
New York University - Stern School of Business
Downloads 68 (259,799)
Citation 22

Abstract:

23.

Financial Innovations in International Financial Markets

NBER Working Paper No. w2277
Number of pages: 77 Posted: 18 Jul 2000
Richard M. Levich
New York University - Stern School of Business
Downloads 65 (285,697)
Citation 5

Abstract:

24.

A New Look at Currency Investing (A Summary)

CFA Institute Research Foundation
Number of pages: 4 Posted: 29 Mar 2015
Momtchil Pojarliev and Richard M. Levich
Fischer Francis Trees & Watts, Inc. and New York University - Stern School of Business
Downloads 56 (237,723)

Abstract:

Currency, FX, carry trade, trend following, beta grazers, volatility, alpha generator

Development and Functioning of FX Markets in Asia and the Pacific

BIS Paper No. 82e
Number of pages: 58 Posted: 19 Oct 2015
Richard M. Levich and Frank Packer
New York University - Stern School of Business and Bank for International Settlements (BIS)
Downloads 53 (320,801)

Abstract:

Development and Functioning of FX Markets in Asia and the Pacific

Financial Markets, Institutions & Instruments, Vol. 26, Issue 1, pp. 3-58, 2017
Number of pages: 56 Posted: 11 Jan 2017
Richard M. Levich and Frank Packer
New York University - Stern School of Business and Bank for International Settlements (BIS)
Downloads 0

Abstract:

26.

On the Definition and Magnitude of Recent Capital Flight

NBER Working Paper No. w2275
Number of pages: 54 Posted: 27 Apr 2000
Robert E. Cumby and Richard M. Levich
Georgetown University - Department of Economics and New York University - Stern School of Business
Downloads 33 (355,687)
Citation 8

Abstract:

27.

Research Foundation Year in Review -- 2012

CFA Institute Research Foundation R2013
Number of pages: 76 Posted: 11 Jun 2015 Last Revised: 20 Mar 2016
AQR Capital Management, University of Warwick - Finance Group, University College London (UCL), Boston University - Department of Finance & Economics, CFA Institute Research Foundation, CFA Institute, Fischer Francis Trees & Watts, Inc., New York University - Stern School of Business, Minnesota State University, Mankato, CFA Institute, Webster University, Environmental Financial Products, LLC, University of Cambridge - Judge Business School, Target Corporation, CFA Institute Research Foundation and University of Cambridge - Judge Business School, Department of Finance & Accounting
Downloads 32 (283,404)

Abstract:

Expected Returns, emotional finance, currency investing, life-cycle investing, inflation, liquidity, financial frictions, ethics, derivatives, equity risk premium

28.

The Euromarkets after 1992

NBER Working Paper No. w3003
Number of pages: 48 Posted: 14 Apr 2007
Richard M. Levich
New York University - Stern School of Business
Downloads 32 (355,687)
Citation 2

Abstract:

29.

Synthetic Eurocurrency Interest Rate Futures Contracts: Theory and Evidence

NBER Working Paper No. w3055
Number of pages: 52 Posted: 14 Apr 2007
Annie Koh and Richard M. Levich
Singapore Management University and New York University - Stern School of Business
Downloads 21 (406,154)
Citation 1

Abstract:

30.

Analyzing the Accuracy of Foreign Exchange Advisory Services: Theory Andevidence

NBER Working Paper No. w0336
Number of pages: 41 Posted: 15 Feb 2001
Richard M. Levich
New York University - Stern School of Business
Downloads 21 (410,875)
Citation 4

Abstract:

31.

Developing the Ecu Markets: Perspectives on Financial Innovation

NBER Working Paper No. w2276
Number of pages: 24 Posted: 19 Jul 2004
Richard M. Levich
New York University - Stern School of Business
Downloads 19 (430,798)
Citation 1

Abstract:

32.

Securities Activities of U.S. Commercial Bank Affiliates: Lessons from the International Financial Markets

NBER Working Paper No. w1428
Number of pages: 69 Posted: 29 Jun 2004
Richard M. Levich
New York University - Stern School of Business
Downloads 18 (435,923)
Citation 3

Abstract:

33.

FX Counterparty Risk and Trading Activity in Currency Forward and Futures Markets

NBER Working Paper No. w18256
Number of pages: 33 Posted: 28 Jul 2012
Richard M. Levich
New York University - Stern School of Business
Downloads 7 (472,213)
Citation 1

Abstract:

34.

Predictability of Predictability: Time-Varying Momentum and Reversal Across Assets and Over Time

Posted: 02 Feb 2017
Thomas Conlon, Richard M. Levich and Valerio Potì
University College Dublin, New York University - Stern School of Business and University College Dublin

Abstract:

Predictability, Momentum, Reversal, Horizon, Safe Havens, Market Efficiency

35.

Predictability and Mispricing in Emerging vs. Developed Currency Markets

Number of pages: 40 Posted: 19 Jan 2017 Last Revised: 25 Mar 2017
Richard M. Levich, Thomas Conlon and Valerio Potì
New York University - Stern School of Business, University College Dublin and University College Dublin
Downloads 0 (302,654)

Abstract:

Predictability, Foreign Exchange, Filter Rules, Market Efficiency

36.

Settlement Risk in the Global FX Market: How Much Remains?

Number of pages: 41 Posted: 22 Aug 2016 Last Revised: 08 Nov 2016
Dino Kos and Richard M. Levich
CLS Bank International and New York University - Stern School of Business
Downloads 0 (276,688)

Abstract:

Foreign exchange, settlement risk, Herstatt risk