Publications

23 Jan 2018
First Look

First Look at New Research and Ideas, January 23, 2018

one, while passive maturity transformation strategies have CAPM betas near zero; and (4) portfolios of bank equities consistently underperform portfolios designed to passively mimic their economic exposures.... View Details

Keywords: Sean Silverthorne

10 Jan 2023
Research & Ideas

How to Live Happier in 2023: Diversify Your Social Circle

The classic advice to investors is to diversify—put wealth into a combination of assets. Perhaps some cash goes into mutual funds, some in blue chips, and a little in growth stocks, spreading out risk as well as opportunity. What if people thought about View Details

Keywords: by Michael Blanding

25 Sep 2018
First Look

New Research and Ideas, September 25, 2018

City–based startup, offering investors equity in individual CRE properties that its investment team had sourced and vetted. Traditional private equity (PE) funds required investors in CRE equity to accept an entire View Details

Keywords: Dina Gerdeman

22 Aug 2007
Research & Ideas

The Hedge Fund as Activist

counterintuitive to us that a portfolio manager with a short investment horizon would be willing to devote time and energy to a task delivering long-term value. After all, there are no guarantees that the... View Details

Keywords: by Robin Greenwood; Financial Services

October 2022
Case

Sustainable Finance at Itau BBA

By: George Serafeim, Maria Loumioti and Benjamin Maletta

As of August 2022, the Itau BBA had structured dozens of sustainability linked bonds, which made future interest payments a function of the borrower meeting a target for a sustainability metric, and had solidified its reputation as a pioneer of sustainable finance in... View Details

Keywords: Sustainable Finance; Corporate Social Responsibility; Environmental Sustainability; Growth Strategy; Debt Contracting; Performance Metrics; Risk Assessment; ESG (Environmental, Social, Governance) Performance; Financial Instruments; Risk Management; Debt Securities; Measurement and Metrics; Banking Industry; Pulp and Paper Industry; Latin America

20 Jan 2009
Research & Ideas

Risky Business with Structured Finance

In the wake of the financial crisis, many once-esoteric investment terms have become a familiar part of our vocabulary. The role of structured finance securities such as collateralized debt obligations (CDOs), for example, and the part... View Details

Keywords: by Julia Hanna; Banking; Financial Services

March 2024 (Revised July 2024)
Case

WeightWatchers: Promoting Weight Health

By: Ranjay Gulati, Cynthia A. Montgomery, Ashley Whillans, Allison Ciechanover and Emily Grandjean

In December 2023, the 60-year-old weight management industry stalwart WeightWatchers announced the launch of WeightWatchers Clinic, which incorporated GLP-1s , a new class of prescription weight-loss medications, into the company’s portfolio of products and mobile app... View Details

Keywords: Business Strategy; Competitive Strategy; Resource Allocation; Diversification; Leadership; Growth and Development Strategy; Technology Industry; Health Industry; Pharmaceutical Industry; United States; New York (city, NY)

08 Jul 2008
First Look

First Look: July 8, 2008

and practice are discussed. Download the revised paper: http://www.hbs.edu/research/pdf/08-080.pdf PublicationsShould You Invest in the Long Tail? Author:Anita Elberse Periodical:HBS Centennial Issue. Harvard Business Review 86, nos.... View Details

Keywords: Martha Lagace

August 2022 (Revised November 2022)
Case

Altos Ventures (A)

By: Jo Tango and Alys Ferragamo

In December 2012, Altos Ventures General Partners Han Kim, Anthony Lee, and Ho Nam met to discuss the future of the firm. Altos had already adjusted its strategy multiple times. It began as a U.S.-focused venture capital investor whose first two funds were backed by a... View Details

Keywords: Strategic Planning; Venture Capital; Investment Portfolio; Partners and Partnerships

2010
Chapter

The Euro as a Reserve Currency for Global Investors

By: Luis M. Viceira and Ricardo Gimeno

This article explores the demand for the euro for risk management purposes and the evidence of stock market integration in the euro area. We define a reserve currency as one that investors demand either because it helps them hedge real interest risk and inflation risk,... View Details

Keywords: Volatility; Inflation and Deflation; Capital Markets; Currency; Stocks; Financial Markets; Financing and Loans; Investment Return; Investment Portfolio; Risk Management

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23 Mar 2023
Research & Ideas

As Climate Fears Mount, More Investors Turn to 'ESG' Funds Despite Few Rules

Investor interest in social responsibility has skyrocketed in the past three years, even as US regulations to hold companies accountable remain in flux and the environmental, social, and governance (ESG) label itself draws backlash. Investors are willing to pay a... View Details

Keywords: by Rachel Layne; Financial Services

November 2006 (Revised June 2010)
Case

SUN Brewing (B)

In July 2004, Shiv, Nand, and Uday Khemka are discussing their holdings in SUN Interbrew, a leading Russian beer producer that is part of the family's global portfolio of businesses. SUN Interbrew has been operating as a joint venture since 1998, when the Khemka... View Details

Keywords: Mergers and Acquisitions; Investment; Globalized Markets and Industries; Ownership Stake; Family Ownership; Valuation; Food and Beverage Industry; Russia