Experience Stern | News & Events

Excerpt from CNC World -- "Bitcoin is incredibly risky and there is no intristic value behind it. If you invest in a stock, there is a company paying dividends that supports the value of a stock. If you invest in a government bond, you have the government’s promise to pay interest; with Bitcoin, all you really have is hope."

Excerpt from Bloomberg -- “'It’s clear to me that prices are predominantly going down,' said Abrantes-Metz. 'If the argument is that someone is selling, my question is who is buying, and who benefits from prices going down to an extent that could be driving them further down? We should have a fix that’s based on actual trades that are visible to the market. We need to reduce the ability to manipulate it, independently of whether or not it has already been abused.'”

Excerpt from Financial News -- "Only UBS has announced a move radical enough to distance itself from the capital markets business, to save its crown jewel and restore shareholder value, and the stock market has begun to buy into it. There is plenty of room and still time for others to make similar strategic changes."

Excerpt from Forbes -- "Most Americans own their homes with freeholds–that is to say, the title lasts forever. Leaseholds in the UK and Singapore can last anywhere from a very short time to 999 years. If people didn’t care about the distant future, they should be indifferent as to whether they have a freehold and a, say, 200 year leasehold."

Excerpt from Just Security -- "This year the State Department has increased attention to issues of corruption in its Human Rights Reports. In recent years it has devoted enhanced attention to other evolving human rights subjects such as the treatment of LGBT communities, or persecution directed against bloggers and others using social media. Greater attention to the constellation of national security issues in future Human Rights Reports will both help inform the human rights debate globally, and encourage a more rights-oriented debate on those issues here at home."

Excerpt from The Wall Street Journal -- "The market's focus on how the Federal Reserve will wind down or cease its current round of quantitative easing is unwarranted. While the "taper" does reflect its movement away from extreme monetary accommodation, thus far the reduced pace of Treasury and mortgage-backed securities have had, on balance, no visible effect on markets."

Excerpt from The New York Times -- "In his book 'The Righteous Mind: Why Good People Are Divided by Politics and Religion,' Jonathan Haidt, a social psychologist at New York University’s Stern School of Business, argues that the culture has shifted toward promoting social and professional manipulation over morality. 'Our reasoning appears to have evolved not to help us seek the truth but to help us win arguments.'”

Excerpt from The New York Times -- "Today’s regulatory misalignment is slowing the immense innovation and economic growth it will generate. It’s time to place more trust in the digital trust infrastructure, and give the 'sharing economy' platforms their fair share of the regulatory responsibility."

Excerpt from Business Insider -- "A big part of the problem is that Russia is a declining power, and it’s in the West's best interest to let that slowly play out over time. But the recent response on Ukraine pushed too hard, prompting President Vladimir Putin to retaliate with a decisive response. To say the US-Russia relationship is presently broken is an understatement."

Excerpt from Yahoo! Finance -- "In fact, the elimination of many fees, and clarity on other penalties and repayment terms, is saving consumers $12.6 billion annually according to a paper published Jan. 26 by a team of academics led by economist Johannes Stroebel of New York University. The team found the true cost of credit – interest rate plus fees – has shrunk significantly since implementation of the CARD Act, and even more for consumers with poor credit."

Excerpt from Financial Times -- "In New York, Sam Craig, professor of entrepreneurship and arts and media management at NYU Stern, highlights the power shifts in the industry. 'Control is passing from the firms to the consumer,' he says."

Excerpt from Delta Sky Magazine -- "By the end of the course, they've learned the simple, yet thorough, process of disruptive thinking to solve real-world problems."

Excerpt from GQ -- “'The thing that's really striking to me is that a lot of people who use Uber—it's not like they used to take taxis,' says Arun Sundararajan, a professor at NYU's Stern School of Business who specializes in the digital economy. 'It's almost like you're inventing a new way of organizing your day because you can get a car in three minutes. You can define a new lifestyle for yourself.'”

Excerpt from The New York Times -- “'Our analysis does suggest that unconventional monetary policies (including QE and forward guidance) can build future hazards by encouraging certain types of risk-taking that are not easily reversed in a controlled manner,' write the authors, the economists Michael Feroli of JPMorgan Chase; Anil Kashyap of the University of Chicago; Kermit Schoenholtz of New York University; and Hyun Song Shin of Princeton."

Excerpt from CBS News -- "They do represent the future of digital money because for the first time we have a technology that is allowing us to create digital money that is like cash."

Excerpt from Reuters -- "In the paper, also co-authored by professors Hyun Song Shin of Princeton University and Kermit Schoenholtz of New York University, the economists concluded that the current policy stimulus 'is not a free lunch' and can bring about disruptions when that accommodation is lifted. 'Perhaps the domestic macroeconomic fallout from exit will be as gentle as was the impact from the 2013 "taper tantrum,"' they wrote. 'However, such a benign outcome is not guaranteed.'"

Excerpt from Bloomberg -- "Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five of the biggest gold dealers, are a sign of collusive behavior and should be investigated, New York University’s Stern School of Business Professor Rosa Abrantes-Metz and Albert Metz, a managing director at Moody’s Investors Service, wrote in a draft research paper."

Excerpt from CNBC -- "Given Google's massive toehold in its core moneymaking market, analysts say the company isn't yet betting the farm. 'It's not like [Tesla Motors co-founder] Elon Musk building a big factory and hoping that he can sell enough cars to pay it off—none of Google's moves are costly enough to threaten the cash cow,' said NYU's Schilling, noting that by not just doubling down on search, Google is making sure it will be around no matter in what direction the world will shift."

Excerpt from Project Syndicate -- "According to the positive narrative about emerging markets, industrialization, urbanization, per capita income growth, and the rise of a middle-class consumer society were supposed to boost long-term economic and sociopolitical stability. But in many countries recently wracked by political unrest – Brazil, Chile, Turkey, India, Venezuela, Argentina, Russia, Ukraine, and Thailand – it is the urban middle classes that have been manning the barricades."

The Stern Private Equity Club’s (SPEC) ninth annual conference will be held on February 28. The conference, themed, “Finding Alpha: Navigating Investment Headwinds in Private Equity,” is designed to provide current students, alumni and industry professionals with networking opportunities and panel discussions focusing on trends and issues facing the private equity and venture capital industries.

New York University hosts its third annual NYU Entrepreneurs Festival to celebrate the vibrant and growing start-up culture at the University. The event, co-hosted by the NYU Stern Berkley Center for Entrepreneurship and Innovation, the NYU Entrepreneurs Network and the NYU Entrepreneurial Institute, provides an opportunity for new ventures to seek advice and learn from the experiences of start-up founders, investors and prospective entrepreneurs from the NYU entrepreneurial community.

The 10th Annual NYU/Penn Conference on Law and Finance, jointly sponsored by New York University’s Pollack Center for Law & Business, the University of Pennsylvania’s Institute for Law and Economics and Wharton’s Financial Institutions Center, will be held at the University of Pennsylvania Law School on February 28 and March 1.

Excerpt from City AM -- "The networking potential is even greater on collaborative programmes (where two or more schools offer a single programme together), as students could get access to a far wider range of connections. 'It’s another way that students can tailor the programme to suit their needs,' says Zaitseva. Trium – a collaboration between HEC Paris, LSE and NYU Stern – can give students a whole range of skills. 'NYU Stern is based in one of the world’s leading financial centres. HEC Paris will provide key entrepreneurial skills; and LSE focuses on social studies.'”

Excerpt from American Entrepreneurship Today -- "The showcase is part of the annual $200K Entrepreneurs Challenge where entrepreneur teams comprised of NYU alumni, students and staff vy for awards totalling $200k in three venture categories: 'New Venture Competition', 'Social Venture Competition' and 'Technology Venture Competition'. The evening's showcase was for semi-finalists in the Challenge competition that kickoffed in early fall 2013. Teams accepted into the competiton receive training and mentoring over the course of the academic year that culminates in a pitch off contest in late spring 2014."

Excerpt from Voice of America -- "No one really knows why the bitcoin broker shut down. But economics professor Arun Sundararajan says signs point to a security flaw. 'It seems to have been a security breach more than anything else where a lot of the bitcoin was stolen by hackers. And as a consequence, Mt. Gox had to stop trading. And of course this has sort of lowered the value of the bitcoin traded at Mt. Gox considerably,' said Sundararajan."