Experience Stern | News & Events

Excerpt from Yahoo Finance -- "Damodaran, who teaches corporate finance and valuation, says trying to force growth in older companies like IBM could actually have a negative impact on them, because they might end up simply throwing good money away. 'When you’re 75, you’d love to be 35 again, but you’re not going to,' Damodaran said. 'So that’s the way I think of aging companies. Trying to turn them around might be the most dangerous thing you can do.'"

Excerpt from The Washington Post -- "In a paper published this week by the National Bureau of Economic Research, they argue that increasing concentration of economic power in the hands of relatively few behemoth corporations -- in some cases to the point where companies enjoy a near monopoly -- could explain the pattern: The big firms, unconcerned about their competitors, simply have no need to invest in staying ahead. 'It explains a big chunk of why investment is low in the U.S. today,' Philippon said."

Excerpt from The Telegraph -- "All those politicians concerned or interested in the subject of executive pay should junk the suggestions of their peers and spend quite some time digesting a comprehensive new academic paper by Alex Edmans, Xavier Gabaix and Dirk Jenter entitled 'Executive Compensation: A Survey of Theory and Evidence'."
 

Excerpt from Bloomberg -- "Adapting to the bill’s requirements would not 'be a significant issue at all' for the companies, said Arun Sundararajan, a professor at New York University’s Stern School of Business and author of 'The Sharing Economy.'"

Excerpt from OZY -- "'You are likely to see a shakeout in the active management space,' says Vasant Dhar, a professor at New York University’s Stern School of Business, who adds there will 'probably' always be a place for human-managed funds. While machines might take all the remaining jobs in short- and medium-term money management, long-term quality judgments of companies remain a distinctly human quality, he argues."

Excerpt from The New York Times -- "Across an entire city, those costs outweigh the benefits of foreign investment, according to two finance professors, Jack Favilukis of the University of British Columbia and Stijn Van Nieuwerburgh of New York University. They modeled what happens when a market like New York City is shocked by an inflow of absentee out-of-town buyers. ... 'And then there are costs that are harder to quantify,' Professor Van Nieuwerburgh said. 'The texture of the city, the socioeconomic makeup of the city, is changing.'"

Excerpt from CCTV -- "The single biggest challenge facing the automakers is perceptions of safety among consumers. There's a very significant behavior change that many auto owners in America will have to go through before they embrace fully autonomous vehicles and understanding what those barriers are and removing those barriers is perhaps the single biggest challenge to automakers. Regulation is another big barrier. I think the number of entities that have jurisdiction over autonomous vehicles is potentially huge and of course the technology, and making sure the technology is ready."

Excerpt from CNN -- "Gary Friedland, a scholar in residence at New York University's Stern School of Business who has studied the program, said developers have found ways to manipulate census tract data to place their projects within 'targeted employment areas,' which legally reduces the amount investors must pay -- down from $1 million to $500,000 -- to qualify for EB-5 benefits."

Excerpt from the Global Trade Review -- "'Multinational firms are the architects of global supply chains. As such they must deal with the shifting economic, technological, political and social forces and pressures operating on their supply chains, employees, customers and regulators. It is not much of an exaggeration to say that their ability to navigate and respond will be one (perhaps the) decisive factor for the future of a reasonably integrated and sustainable global economy,' says Nobel Prize winning economist Michael Spence of New York University, in a note accompanying the report."

Excerpt from The Washington Post -- "'The current [Gulf Cooperation Council] diplomatic crisis has drowned out conversations on migrant rights in the region, but the two are actually linked,' said David Segall, who researches labor in the Persian Gulf at New York University’s Stern Center for Business and Human Rights. 'More and more workers are stranded in the gulf because their employers have been deported or have suspended business operations. This is a predictable pitfall of a system that gives employers inordinate sponsorship powers over workers, and is a reminder of the need for reform.'"

This course is a good fit for private wealth managers, investment advisors, financial advisors and institutional asset managers, as well as professionals interested in learning about modern portfolio management.

Excerpt from the Associated Press TV -- "I don't believe this is a left vs. right issue or a Trump vs. Democrats issue. I think that network neutrality benefits not only consumers, but the vast majority of businesses. Net neutrality does not benefit the telecom providers, the cable providers, but it does benefit everybody else in business."

Excerpt from Business Insider -- "'I always say "AQA:" Answer the question asked,' Isser said. 'Respond to the prompts, do it completely. That said, make sure you get across who you are in this essay.' And of course, convey yourself and your goals clearly. 'I would treat this a little bit more like if you are presenting a business case on yourself and you are providing almost an executive summary as to who you are, what you're about, and why you're going to business school,' he said."

Excerpt from CNBC -- "Helping employees get over financing hurdles for housing would pump relatively 'lazy' capital on corporate balance sheets directly into the economy. Public corporations have trillions in liquid assets, so the scale and impact of providing housing assistance to employees could be significant. In return, it would be beneficial to companies in a couple of ways: 1) The company would get interest on that loan and 2) It would help companies solicit and retain valuable employees. For example, they could offer employees the convenience of living close to work."

Excerpt from Axios -- "Corporate America has become ever more concentrated over the past two decades, and its monopoly power is killing the incentive for large companies to invest in the economy, according to new research from NYU's Stern School of Business. The paper's authors assert a cause-and-effect relationship between a widespread increase in large company monopolies and a decrease in investment in new technologies, plants, and equipment by those same monopoly companies."

Excerpt from Marketplace -- "People perceive the US economy as the most desirable place to invest."

Excerpt from the Chicago Tribune -- "Michael Posner, who served as Assistant Secretary of State for the human rights bureau during the Obama administration, suggested that shuttering the war crimes office did not foreclose the prospect that another State Department agency might carry the torch.'The key is the appointment of strong people and the provision of adequate resources and political support to enable them to do their jobs effectively,' he said. 'Treating human rights and global justice issues as foreign policy priorities advances US interests and values. They are inseparable.'"

Excerpt from the Irish Times -- "Ordinary investors didn’t get to buy at $17 during the IPO. Demand meant they opened for trading at $24 and peaked at $29 the following day, a far cry from the $15 level to which they fell last week. It could get worse. Prior to the IPO, this columnist warned Snap’s stratospheric valuation meant it looked a bad bet. Even now, the stock trades on 45 times sales, prompting Prof Scott Galloway from the NYU Stern School of Business to dismiss it as the 'most overvalued company in the world.'"

Excerpt from CNBC -- "Aswath Damodaran predicts digital currencies will eventually be as important as the major paper currencies. He said cryptocurrencies have already replaced gold for younger investors.'All currency is ... based on trust. If you don't trust paper currency, historically what you've done is you dumped paper currencies [and] you bought gold,' he said. 'Cryptocurrencies have taken the role of gold at least for younger investors because they don't trust paper currencies.'"

Excerpt from Economy Chosun -- "Unlike China, India is tightly regulated by lending, so it will not be easy to recreate the explosive growth that China has shown in the past. Of course, there are not many bankrupt companies thanks to strict loan regulation. India is expected to record an annual growth rate of 5 ~ 6% annually."

Excerpt from Forbes -- "Financial resources are being diverted from needed investments in innovation. A brilliant study by economists from the Stern School of Business and Harvard Business School, compares the investment patterns of public companies and privately-held firms. They found that, keeping company size and industry constant, private US companies invest nearly twice as much as those listed on the stock market: 7% of total assets versus just 4%."

Excerpt from Deutsche Welle -- "'Everyone wants the benefits of good infrastructure and nobody wants to pay, so things are allowed to deteriorate,' says Ingo Walter, Professor Emeritus of Finance at New York University, 'Transportation is the lynchpin. Fixing our roads, bridges, tunnels and transportation hubs are a must and will have the biggest impact.'"
 

Excerpt from Business Insider -- "'One of the most important qualities that we look for at Stern is what we call IQ plus EQ,' Gallogly said. Gallogly, who over the course of 15 years has reviewed more than 50,000 applications, said that the best candidates demonstrate both strong intellectual capability and emotional intelligence. 'I think that's one of the things that really differentiates our student body as well as our school — that we look for not only bright intelligent leaders, but those who actually are capable of leading teams, communicating complicated ideas, and bringing things forward,' he said."

Excerpt from OZY -- "So what do family offices do with their secretive trillions? They tend to favor long-term investing in order to preserve wealth over multiple generations, says Richardson. And since they tend to be overexposed in certain industries — the megawealthy have been known to hold on to a disproportionate chunk of the company that made them rich — ‘Wall Street has to be creative in helping them manage those risks,’ he explains."

Excerpt from OZY -- "'A fundamental shift' is afoot, akin to 'an industrial revolution in finance,' says financial technology industry veteran Kathleen DeRose, founding investor and board member at Zurich-based Evolute, a technological wealth management firm, and fintech executive-in-residence at New York University’s Stern School of Business. 'Wall Street firms will separate into technology haves and have-nots.'"