Publications

March 2025 (Revised April 2025)
Case

WallStreetBets: Democratizing Retail Investing

By: Joseph Pacelli and Alexis Lefort

In summer 2024, Jaime Rogozinski anticipated the launch of a day-trading eSports event, a vision he had nurtured for years. Rogozinski, the founder of the influential subreddit WallStreetBets (WSB), created the forum in 2012 as a space for retail traders to explore... View Details

Keywords: Investment; Emerging Markets; Market Participation; Financial Strategy; Lawsuits and Litigation; Social and Collaborative Networks; Financial Markets; Financial Services Industry; United States

Fast Answer

Infrastructure funds and project finance

Where do I find information on infrastructure investments and project finance? LSEG Workspace includes a project finance screening tool that allows searching by initiative type, geography, and cost. On the homepage, type... View Details

2011
Chapter

How Does Simplified Disclosure Affect Individuals' Mutual Fund Choices?

By: John Beshears, James J. Choi, David Laibson and Brigitte C. Madrian

We use an experiment to estimate the effect of the SEC's Summary Prospectus, which simplifies mutual fund disclosure. Our subjects chose an equity portfolio and a bond portfolio. Subjects received either statutory prospectuses or Summary Prospectuses. We find no... View Details

Keywords: Information; Corporate Disclosure; Decision Choices and Conditions; Consumer Behavior; Retirement; Personal Finance; Investment Funds; Microeconomics

May 1994 (Revised December 1994)
Case

Fidelity Investments: Spartan Florida Municipal Fund

By: Andre F. Perold and Sanjay Bhatnagar

Keywords: Investment Funds; Financial Services Industry; Florida

September 1985
Case

Citicorp Investment Management

By: Andre F. Perold

Keywords: Investment Funds; Management; Financial Services Industry

May 2011
Article

Higher Risk, Lower Returns: What Hedge Fund Investors Really Earn

By: Ilia Dichev and Gwen Yu

The returns of hedge fund investors depend not only on the returns of the hedge funds they hold but also on the timing and magnitude of their capital flows in and out of the funds. We use dollar-weighted returns (a form of IRR) to assess the properties of actual... View Details

Keywords: Investment Funds; Investment Return; Capital Markets; Market Timing; Currency

Read Now

August 2020
Background Note

US Private Equity Firms: ESG and Impact (A)

By: Lynn S. Paine and Holly Fetter

This Note has two parts. The first part (A) explores how U.S. private equity firms are incorporating ESG (Environmental, Social, & Governance) factors and impact objectives into their investment strategies and firm practices. It is based on publicly available... View Details

Keywords: Private Equity; Corporate Social Responsibility and Impact; Social Issues; Financial Services Industry; United States

February 2021
Case

Measuring Impact at JUST Capital

By: Charles C.Y. Wang and Ethan Rouen

JUST Capital is a nonprofit organization that seeks to make public companies more "just" by measuring and ranking their overall impact on society, based on the priorities most important to the average American. This case examines JUST's strategy for influencing... View Details

Keywords: Nonprofit Organizations; Ethics; Measurement and Metrics; Performance Evaluation; Social Issues; Corporate Social Responsibility and Impact

01 Jun 2017
News

Powered by the HBS Fund

alumni.hbs.edu/facultyresearch to watch: Professor Jan Rivkin talk about his passion for case writing and the origin of his case on LEGO’s return from bankruptcy. Associate Professor Raffaella Sadun discuss how she uses data to explore the View Details

17 Feb 2003
Research & Ideas

Rating Fund Managers by the Company They Keep

Business. At its core, the new system compares a fund manager's investments with those of other successful fund managers, making past performance less important in the rating... View Details

Keywords: by Ann Cullen

01 Sep 2005
News

Gifts Create Frist Financial Aid Fund

TOMMY, JULIE, AND BILLY FRIST: New fund supports fellowships and innovation in financial aid. Photo Courtesy Frist family Financial aid at HBS has received a $10 million boost, thanks to a $9 million gift from the Thomas F. Frist Jr.... View Details

Keywords: Business Schools & Computer & Management Training; Educational Services

January 2024
Technical Note

Venture Capital and Private Equity Funds: A Primer

By: Jo Tango and Christina Wallace

How do venture capital and private equity funds actually work? This Technical Note covers the "when, who, and how" details:

"When": fund length, extensions, and when investors can no longer initiate new investments.
"Who": who is in the General... View Details

Keywords: Fund Flows; Fund Management; Venture Capital; Private Equity; Investment Funds

20 Jul 2017
News

The Looming Threat That Could Decimate Wall Street's Fund Managers

June 2022
Case

PFA Pensions: The Climate Plus Product

By: Daniel Green, Victoria Ivashina and Alys Ferragamo

The case explores whether alternative investments play a unique role in achieving low carbon dioxide emissions at the portfolio level. This case is set in April of 2020 and follows Kasper Ahrndt Lorenzen, Chief Investment Officer, and Peter Tind Larsen, Head of... View Details

Keywords: Carbon Emissions; Carbon Footprint; Alternative Assets; Alternative Investment Vehicles; Pension Fund Investing; Private Equity; Renewable Energy; Investment Portfolio; Corporate Social Responsibility and Impact; Environmental Sustainability; Denmark

October 2007 (Revised November 2007)
Case

Barclays Global Investors and Exchange Traded Funds

By: Luis M. Viceira and Alison Berkley Wagonfeld

Provides an overview of the Exchange Traded Funds (EFT) industry and highlights the leadership role that Barclays Global Investors (BGI) has played in this developing asset class. BGI launched its first ETFs under the iShares brand name in 2000, and by mid-2007 BGI was... View Details

Keywords: History; Venture Capital; Asset Management; Stocks; Investment Funds; Leading Change; Expansion; Competitive Strategy; Capital Markets; Global Strategy; Financial Strategy; Banking Industry; Financial Services Industry; Asia; Europe

October 1993 (Revised September 1994)
Case

Northern Telecom (A): Greenwich Investment Proposal (Condensed)

By: Robert J. Dolan

The business products division has developed a business proposal asking for $50 million to fund the creation of a new telephone system for the small business market. The company's last entry into this marketplace lost $70 million. The new product would face 100... View Details

Keywords: Risk and Uncertainty; Communication Technology; Market Entry and Exit; Corporate Entrepreneurship; Investment; Product Development; Telecommunications Industry; Canada