Hopes and Fears is the debut album by the English avant-rock group Art Bears. It comprises tracks by Henry Cow, Art Bears's predecessor, recorded at Sunrise Studios, Kirchberg in Switzerland in January 1978, and tracks by Art Bears, recorded at Kaleidophon Studios in London in March 1978.
Hopes and Fears began as a Henry Cow album, but after the first recording sessions in Switzerland, some of the members of the band were unhappy about the predominance of song-oriented material. As a compromise it was agreed that two albums would be made: the songs would be released by Fred Frith, Chris Cutler and Dagmar Krause as Art Bears, and the instrumental compositions would be released later by Henry Cow. The newly formed Art Bears recorded four more tracks in London to complete Hopes and Fears, which was released in May 1978. Henry Cow returned to Switzerland in July that year to record additional instrumental pieces for what was to be their last album, Western Culture (1979).