Experience Stern | News & Events

Excerpt from the Financial Times -- "No mainstream economic forecaster is predicting a recession this year. But this is little comfort because they have consistently failed to forecast recessions. This might be because they are inherently unpredictable. New York University’s Xavier Gabaix has shown that they can arise from failures of important big companies..."

Excerpt from The Globe and Mail -- "'... Consider Aswath Damodaran, a professor of finance at New York University and widely followed expert on market valuation. He has generally been bullish on stocks, and continues to be somewhat positive, but cautioned last week that U.S. companies are now returning more cash to investors in the form of dividends and buybacks than the businesses collectively earn – a clearly unsustainable trend. 'I am more wary about equities going into 2016 than I was entering 2015,' he wrote."
 

Excerpt from CNNMoney -- "America almost had its own market meltdown like what China is experiencing. During the panic of 1907, the head of the New York Stock Exchange wanted to shut the market down. The only reason he didn't was because John Pierpont Morgan (aka J.P. Morgan) was right across the street and told him that it would be a terrible idea and cause more panic, says Sylla."

Excerpt from CBS -- "'It's most likely that the Chinese will continue to be drawn to U.S. real estate, both commercial and residential,' Wachtel said. 'You're going to see many billions of dollars flowing into the U.S. as we remain the one safe haven compared to the slower growth in Europe and the considerable weakness in the emerging markets.'"

Excerpt from The Wall Street Journal -- "'If anything, [the research] findings seem to be as favorable as Uber or Lyft might have wanted them to be,' said Arun Sundararajan, a New York University business school professor who was solicited for advice in the city’s study."
 

Excerpt from The Boston Globe -- "Another study published in 1999 by the Stern School of Business at New York University found that movies that debut on 10 or fewer screens can expect an Oscar-nomination bump that would boost sales by about 250 percent, while movies that open on more than 10 screens can expect a 30 percent boost."

Excerpt from O'Reilly Data Show -- "One of the things I did was to break up the investment landscape into three different types of holding periods. On the one hand, you have high-frequency trading, and on the other extreme, you have very long-term investing. In high-frequency trading, your holding periods are sort of minutes to a day. In very long-term investing, your holding periods are months to years, that Warren Buffett style of investing. Then there’s sort of a space in the middle, which is the part I find most interesting, where there’s a lot of action, which is sort of days to weeks holding period. … The strategy one uses for these different horizons tends to be very different. In the high-frequency trading space, for example, humans don’t really stand a chance against computers, there’s just so much information."

Excerpt from TIME -- "A surprise currency devaluation and continued downward drift in the value of the yuan against the dollar have investors concerned that some of China’s trade partners will have to devalue their own currencies to avoid losing a competitive commercial advantage. That could trigger a currency war that would ravage global trade."

Excerpt from TIME -- "The world economy has had a rough start in 2016, and it will continue to be characterized by a new abnormal: in the behavior of growth, of economic policies, of inflation and of key asset prices and financial markets."

Excerpt from Bloomberg -- "Lotteries have long been a form of public financing and the museum has tickets from the Revolutionary and early Federal era in its collections, said Richard Sylla, the [Museum of American Finance's] chairman. He said his dorm at Harvard was built in the early 1800s partly with lottery money."

Excerpt from MarketWatch -- "'They are very lucky to have built up a reservoir of trust over time,' agrees Schenkler, at NYU. 'They have reputational capital, which gives them a well of goodwill. So once media coverage erodes, things will get back to where they were.'"

Excerpt from Business News Daily -- "Taking a cutthroat approach isn't always the best way to get what you want when negotiating, new research finds. Bringing emotion into negotiations often elicits compassion from the other party, making that person more likely to develop sympathy and, in turn, more willing to compromise and find creative solutions, finds a study set to be published in the journal Organizational Behavior and Human Decision Processes."

Excerpt from SarderTV -- "The easiest way to think of bounded awareness, it's that moment we experience when we're looking for the butter in the fridge and we claim there is no butter in the fridge. And we insist that we looked and there really was no butter in the fridge. And then our family member comes and says, 'There's the butter in the fridge!' And we say, 'How did I miss that? How did I not see it right in front of me.'"

Excerpt from Diario Financiero -- "The collapse of the stock market in China and increased global volatility triggered by the devaluation of the yuan, he said, 'will not lead to a collapse' in the second-largest economy in the world, but it may be pointing to problems the Asian giant will have 'for longer than had been thought.'"

A report issued jointly by the NYU Pollack Center for Law & Business and Cornerstone Research reveals that the U.S. Securities and Exchange Commission (SEC) filed 76 percent of its enforcement actions against public company defendants as administrative proceedings in fiscal year (FY) 2015.

Excerpt from Machine Design -- "'... Sony invested in improving their technology of Super Audio CD at a time when they believed customers cared about every increasing fidelity,' says Schilling. 'Unfortunately, we were already nearly at the limits of human hearing in terms of audio fidelity, so the payoff to increasing fidelity wasn’t very big. While Super Audio CD and HD Audio were competing to be the highest fidelity audio formats, the MP3 format offered customers something they valued more—portability—and wiped Super Audio and HD Audio off the map.'"

Excerpt from The News Journal -- "'For about 150 years, the United States did not have interstate banking and what those did was help advance the agenda of that movement so that, lo and behold, we got the Riegle-Neal Interstate Banking Act of 1994,' [Sylla] said."

Excerpt from NexChange -- "'The accounting system provides very little, very biased information,' says Baruch Lev, professor of accounting and finance at New York University. 'The call is a very, very important venue to provide this information.'"

Excerpt from The Washington Post -- "'Commercial banks could have [lent money to shadow banks] in the 1960s or earlier, even before the Fed and the OCC [Office of the Comptroller of the Currency] and court decisions began to loosen the strictures of Glass-Steagall,' said Lawrence J. White, an expert on financial regulation at New York University’s Stern School of Business."

Excerpt from LinkedIn -- "In short: learn cultures, not languages. Study other points of view. The more you know about different regions of the world, the better off you are. You’ll need it going forward."

Excerpt from Financial News -- "The U.S. has begun to raise interest rates and called off its 'QE' activity, actions that ought to be followed before long in the EU and Japan. In general, governments now are less pressured to help the weak and more worried about all the debt they have taken on. They recognise that economic policies have to be more pragmatic."

Excerpt from CBS -- "NYU statistics professor Aaron Tenenbein did the math and found there’s only a 1 in 300-million chance of winning it all. 'If you’re an average golfer, you have a better chance of getting two successive holes in one,' he told CBS2’s Hazel Sanchez."

Excerpt from the Associated Press -- "The probability of you winning the lottery if you don't play is zero. The probability of you winning the lottery if you do play is about the same. And the reason for that is the probability of you actually winning on a single ticket is 1 in 292 million, which works out to be 0.00000000342."

The TRIUM Global Executive MBA program, a partnership between NYU’s Stern School of Business, the London School of Economics and Political Science, and HEC Paris School of Management, held a module in Silicon Valley, California from January 8 - 18, the first in the program’s history.

Excerpt from Kathimerini -- "Without reforms, a reduction of the State sector, reduction in taxation and increase in production, Greece will continue to repeatedly need EU loans, with its misery increasing. Still, prime minister Tsipras is popular because the opposition parties, and especially ND [New Democracy] have not yet presented reforms and policies that would solve the present problems."