Experience Stern | News & Events

It is widely believed that a diversified hedge fund portfolio strategy is an effective hedge against adverse market movements. New research by NYU Stern Finance Professor Stephen Brown, with co-authors Greg Gregoriou and Razvan Pascalau of SUNY College at Plattsburgh School of Business and Economics, shows this is not the case: well-diversified funds of hedge funds are more sensitive to risk than is the average hedge fund in extreme market conditions.

Excerpt from The New York Times DealBook blog -- "Not only do funds of funds with more than 20 underlying managers begin to lose the benefit of diversification, they are also more exposed to tail risk events (or highly unlikely, devastating occurrences), according to the study, led by Stephen Brown, a finance professor at New York University’s Stern School of Business."  Additional coverage appeared on BNN, Professional Services Close-Up and Infovest21.

Excerpt from Project-Syndicate.org -- "The eurozone crisis is reaching its climax. Greece is insolvent. Portugal and Ireland have recently seen their bonds downgraded to junk status. Spain could still lose market access as political uncertainty adds to its fiscal and financial woes. Financial pressure on Italy is now mounting."  Additional coverage appeared on a Forbes.com blog, Aljazeera.net, Sunday’s Zaman, Social-Europe.eu, TodayOnline.com, Profittimes.com, Slate.com, Korea Herald and GuruFocus.com.

Excerpt from Financial News -- "This summer, the financial cognoscenti have begun speculating on who Tim Geithner’s replacement will be as US Treasury secretary."

Excerpt from Bloomberg -- "Italy needs a new government of technocrats to weather the financial-market storm because Prime Minister Silvio Berlusconi’s Cabinet has lost the confidence of investors, economist Nouriel Roubini told la Repubblica."  Additional coverage appeared on La Repubblica and San Francisco Chronicle.

Excerpt from Investment Weekly News -- "We examine the role that analysts play in a firm's choice of underwriter using a sample of major United States investment banks."

Excerpt from Bloomberg -- "'Guaranteed to Fail' by Viral V. Acharya, Matthew Richardson, Stijn Van Nieuwerburgh and Lawrence J. White (Princeton). Four professors at New York University’s Stern School of Business explain how Fannie Mae and Freddie Mac got so big and why we must fix them."

Excerpt from Bloomberg -- “The problem is exacerbated when Wall Street reacts and the stock moves too much,” said Susan Stehlik, a professor at New York University’s Stern School of Business. “That stock ticker can be as dramatic as an EKG or cholesterol test for some people.”  Additional coverage appeared in the San Francisco Chronicle.

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Excerpt from Forbes.com -- "A few months back the folks at Dow Jones Indexes hosted a get-together to celebrate the Dow’s 115th anniversary, and one of the speakers was Professor Richard Sylla from NYU. Sylla discussed the Dow’s history, and featured a slide revealing just what came of the 12 original components selected by Charles Dow back in 1896."  Additional coverage appeared on Yahoo! News.

Excerpt from Bloomberg -- “If the M&F board decides to put up the ‘for sale’ sign, then it has to be guided by Revlon,” Roy Smith, a finance professor at New York University’s Stern School of Business, said in an e-mail message.

Excerpt from Nightly Business Report -- "Companies tend to do the reverse stock split because their prices are low. Why are their prices low? Because they`ve been having poor earnings. So, unless they can change things around dramatically, it`s not going to go back up."

Excerpt from The Huffington Post -- "Frances Milliken did a marvelous study comparing how those in power think and communicate differently from the rest of us. They're more optimistic, prepared to take bigger risks and think in more abstract terms. And the more cut off they become, the more certain they are that they are right."

Excerpt from the New York Daily News -- "The stock market will tank, which will damage everyone's portfolio and/or pension fund," White said. That's what happened when Congress initially failed to pass the TARP legislation in Oct. of 2008, White noted.  Additional coverage appeared on Zeit Online and PolitiFact.com.

The Harry Potter movies have been magic for Hollywood, raking in more than $6 billion at the box office as the final movie installment is released.

On The Daily Show, Prof. Matthew Richardson discusses Fannie Mae and Freddie Mac from Guaranteed to Fail, co-authored with Profs Viral Acharya, Stijn Van Nieuwerburgh and Lawrence White.

Excerpt from The New York Times -- "Priya Raghubir, a marketing professor at the Stern School of Business at New York University, praised Burrell’s choice of a bulldog as a 'mascot' for the RAV4. 'It’s extremely memorable, like the Budweiser Clydesdale horses in their Super Bowl ads,' she said."

Excerpt from Journal of Robotics & Machine Learning -- "We consider the problem of cooperatively minimizing the sum of convex functions, where the functions represent local objective functions of the agents."

NYU Stern and Centre for Economic Policy Research Publish E-Book of Conference Proceedings, "Dodd-Frank: One Year On"

Excerpt from the Financial Times -- "The move away from the stand-alone business school is also apparent at NYU Stern. Dean Peter Blair Henry says he joined the school in January 2010 because of the university president’s vision to develop a global university with the business school playing a part alongside the other departments."

Xavier Serbia Gabriela Frias and Luis Cabral interview, IESE Business School of Spain.

Excerpt from Bloomberg -- "In Smith’s view, the power of Dodd-Frank can already be seen in moves like Citigroup Inc. (C)’s decision to sell off lines of business such as its consumer-lending unit. New regulations governing different lines of business, in addition to the substantial increase in the amount of liquid capital banks must hold, are making it too expensive for financial institutions to stay at their current size, Smith said."

Excerpt from US News & World Report -- "Though she's a history major at the University of Pennsylvania, rising junior Jesse Reich, who completed New York University's Stern Foundations: Business Essentials for Non-Business Students program this month, claims that the business professors understood how to frame the difficult concepts in ways that she could understand."

Excerpt from Business Insider -- "When 25-year-old North Carolina native Katie Kapler met Nihal Parthasarathi, she knew they'd start a company together. During NYU undergrad, they gave it a shot. But like many founders, their first attempt resulted in utter failure. Now they've re-entered the startup scene with CourseHorse, a company that launched in April."  Additional coverage appeared on NYConvergence.com.

Excerpt from Investment Weekly News -- "With the launch of the Group, Credit Suisse's Asset Management division is forming a Systematic Trading Advisory Board. The Board will initially consist of Robert Engle, Nobel Prize in Economics 2003."