Finance Case Study
FIN 6310 Case Studies
Purchase Case Studies (4)
• Harvard Case Studies (2)
o Courses available at
• Ivey Case Studies (2)
o Register for an account at Ivey Cases
o Put the following two cases studies in your cart. Make sure Digital Download is selected which will
cost $3.40 per case.
o Burgundy Asset Management: The Wescast Investment Decision
o Valuing Wal-mart 2010
o Download the Wal-mart case spreadsheet for free.
o Valuing Wal-mart 2010 – Spreadsheet for students
Case Report Guidelines
1. Place case title at top of first page with team member names (maximum four members per team).
2. Answer questions in numerical order.
3. Include graphs and tables if appropriate.
4. Print out case report and hand-in at the beginning of class.
Harvard Management Company (2001) Questions
1. Is HMC’s recent payout policy consistent with the goal of preserving the real (adjusted for Harvard’s
expense growth) value of the endowment and its distribution into perpetuity?
2. Could payout be raised to meet recent budget pressures without changing the risk-return profile of the
3. What value has the HMC’s policy portfolio asset allocations (compared to TUCS median) added to the
endowment from the period 1992-2000?
4. What value has active portfolio management (deviating from the policy portfolio indexes and weights)
added to the endowment from the period 1992-2000?
5. Does this justify their controversial compensation plans? Does HMC’s compensation plan reward
value-creation, discourage excessive risk taking, and increase retention.
6. How does Harvard’s new policy portfolio weights compare to historical weights and other university