Berkeley Business School Students Learn to Invest Experientially
Thomas (Tom) Chalberg has launched several biotechnology ventures, including WaveShift and Oncorus. Thomas Chalberg’s background includes earning a master of business administration from the Haas School of Business at the University of California, Berkeley. In keeping with its philosophy of experiential learning, selected Haas students serve as managers of the Haas Socially Responsible Investment Fund. They are fully responsible for their investment decisions, researching companies for environmental sensitivity, respect for human rights, fair labor practices, and good community relations. Each student summarizes his or her company findings. The team then votes to accept or reject the proposed company for investment. Departing from common industry practice, members pitch only a few firms (three at the most). A faculty adviser and outside professionals provide guidance. Investing began in 2008 with $1.14 million in principal. Like all investment funds, returns have varied from year to year, but the principal had grown to some $1.7 million by 2017. Manager turnover has been a challenge. The group members recruit their own successors and new managers shadow a mentor for a semester to learn the investment philosophy. In addition to a financial return for the university, the fund has been a stepping stone for graduates, who have found key positions at firms such as the Calvert Social Investment Foundation and Cambridge Associates.