Experience Stern | News & Events

Excerpt from Seeking Alpha -- "In a white paper from last December, Aswath Damodaran and Bradford Cornell noted that "big market promise" stocks are often initially overvalued and later see their share prices correct to more realistic levels."

Excerpt from The New York Times -- "'Recent years have seen many good economists trying their hand at writing a popular book in an attempt to disseminate their ideas among a wider audience and influence opinion — with a remarkably large number attaining more than a modicum of success. The past 12 months have been particularly rich, with Thomas Philippon’s 'The Great Reversal: How America Gave Up on Free Markets,' Emmanuel Saez and Gabriel Zucman’s 'The Triumph of Injustice: How the Rich Dodge Taxes and How to Make Them Pay,' Abhijit Banerjee and Esther Duflo’s (winners of this year’s Nobel Prize) 'Good Economics for Hard Times,” and Thomas Piketty’s 1,100-page “Capital and Ideology.'”

Excerpt from Ladders -- "Not all of the mistakes we all make in the first 10 minutes of the day are caused by procrastination. In fact, getting on with our work in the wrong way can have a negative impact on our productivity. Checking your work emails first thing is a common mistake. New York University’s Adam Alter says that it takes an average of 25 minutes to get back to being most productive after you’ve checked your emails."

Excerpt from Retail Dive -- "Whether and how many customers return after the pandemic eases also depends on what they take away from their imposed isolation, according to Thomai Serdari, a professor of luxury marketing and branding at New York University's Stern School of Business. There's likely to be pent-up demand, but possibly tempered by a new appreciation for consuming less, especially as a recession bears down, she said."

Excerpt from The Age -- "In a joint paper with Kermit Schoenholtz, a market guru and now finance professor at New York University's Stern School, he warns of potential bank runs and a cascade of fire sales across asset markets despite the heroic firefighting efforts of the Fed so far. The NYU Stern's SRISK gauge shows that the "weighted average leverage ratio" of European lenders is nearly 48, three times US levels."

Excerpt from Fortune -- "'Most people don’t have enough expertise in financial markets. It’s not their job,' says Nicholas Economides, a professor of economics at NYU Stern School of Business. Add a once-in-a-lifetime pandemic that causes a global crash, and you quickly see armchair 401(k) investors are in over their head in choppy waters."

Excerpt from Project Syndicate -- "In 2008-2010, the Great Recession could be surmounted when the economic fault line – under-capitalization of the global banking system – was tackled. Now, however, the economic emergency will not be resolved until the health emergency is effectively addressed, and that requires coordinated global leadership – now."

Excerpt from Crain's New York -- "'The book marks the beginning of security analysis, or stock picking, as a profession,' said Richard Sylla, a financial historian at New York University's Stern School of Business."

Excerpt from Wealth Management -- Students at every SMIF are lobbying their institutions to add ESG funds to the mix. New York University’s SMIF recently replaced one of its small-cap funds with an ESG fund to better reflect the interests of students passionate about the environment and other social causes. The Michael Price Student Investment Fund (MPSIF) is a family of funds, managed directly by MBA students at the NYU Stern School of Business, which was launched in 1999 through a gift from Michael Price, managing partner of MFP Investors.

Excerpt from The Wrap -- "That’s why Paul Hardart, a former Warner Bros. executive and current head of the... Entertainment, Media and Technology program at NYU, said it’s 'way too early to tell' if Quibi will flourish."

Dean Raghu Sundaram and Professor Scott Galloway engaged in a wide-ranging discussion, touching on everything from how the coronavirus is impacting industries like tech, digital media, retail and startups, important lessons that can be learned when facing adversity, and how global crises can impact future generations of leaders.

Excerpt from Newsday -- “'Life after the virus will be different from before the virus,' said Amy Webb, professor of strategic foresight at the New York University Stern School of Business. 'We have a choice to make: Do we want to confront our cherished beliefs and make meaningful changes for the future, or do we simply want to preserve the status quo?' Webb said."

Excerpt from Marketplace -- "In normal times, it’s a bad look when companies clam up, according to Baruch Lev, professor of accounting and finance at NYU. 'When you stop guidance, the stock price is hit because it increases significantly [the] suspicion of investors. ‘Why did you stop? What’s the reason?’ ' he said."

Excerpt from Fox Business -- “'Target and Walmart and a lot of these places have kind of established themselves as places you can go where you pretty much know you're going to get a good deal, that things aren't going to be so expensive,' Meyvis said. “So people sort of treat it like the grocery store, where they're just putting stuff in their cart.'”

Excerpt from Seeking Alpha -- "The second winner this week is from Prof. Aswath Damodaran, who graciously shares the tools used in his Stern School of Business MBA classes. I recommend his entire 'Viral Market Meltdown' series, but my focus today is on part V, Back to Basics."

Excerpt from Poets & Quants -- “Although the term “business” commonly conjures thoughts of finance and profitability, I learned that business is fundamentally about people. Whether it’s understanding clients, customers, or business partners, it truly is psychology and understanding the human experience that underlies so many aspects of business. Businesses become successful by solving people’s problems, so understanding people is the key first step. Business school has taught me how to be a more thoughtful, perceptive person which in turn makes me a better businesswoman.”

Excerpt from Newsy -- “This kind of crisis can catalyze or even accelerate an ongoing change,” said Arun Sundararajan, author of "The Sharing Economy: The End of Employment and the Rise of Crowd-Based Capitalism."

Excerpt from Outlook India -- "A presentation delivered by Viral Acharya and his colleagues at New York University Stern School of Business said that COVID-19 has many similarities with Global Financial Crisis of 2008 and there are some stark differences as well. It also says that this is once-in-a-century pandemic emanated from Wuhan and has engulfed most of the globe."

Excerpt from Protocol -- "Sundararajan explained that the gig economy flourished after the last financial crisis, because people were 'more willing to experiment with new ways of earning money. Through that lens,' he added, 'I think that there are lots of ongoing technological changes that could be dramatically accelerated by the current crisis.'"

Excerpt from Luxury Daily -- "'Luxury brands need to be more comfortable with risk,' said Allen Adamson, cofounder of Metaforce and adjunct professor at NYU Stern School of Business, New York. 'The temptation from most consumers is that luxury can wait, I don't need to make a big decision right now,' he said."

Excerpt from NY Daily News -- "Lawrence White, a longtime economics professor at New York University’s Stern School of Business, said the new numbers don’t even stack up well against the Great Depression of the 1930s. 'In the 1930s, we went from full employment in 1929 to 25% unemployment in 1933. It took three and a half years. We’re going to be seeing a comparable descent from full employment to deep depression in three and a half weeks, by this rate,' White told the Daily News."

Excerpt from Wired -- “'China is building its soft power,' says Nouriel Roubini, an economist at NYU who was an adviser to presidents Clinton and Obama. 'They are going to use this crisis to say, ‘Our political system is better, our technological model is better, our economic model is better.’”

Excerpt from Grant's Interest Rate Observer -- "Altman hazards no guess about when this grandaddy of benign cycles will turn malicious. 'When both macro and micro market forces point to an unmistakable negative outlook, I except the next stressed credit cycle to produce default amounts that will be higher than any in the past due to the enourmous bond, bank and nonbank buildup, and the crisis may last longer than the previous one."

Excerpt from The Wall Street Journal -- "New York University’s Stern School of Business added two specialized one-year M.B.A. programs in 2018, one in technology and the other focused on the fashion and luxury industries. For 2020, the school said applications for its one-year tech M.B.A. grew 59%; those for the fashion and luxury degree climbed 6%.
'The impetus was trying to think differently about what the future of graduate business education would look like and to meet the needs of employers that our existing programs may not be able to,' said J.P. Eggers, vice dean of M.B.A. and graduate programs."

Excerpt from Fast Company -- “'I think we have been drifting downward for years toward a growing and pernicious consensus that you can’t tell truth from falsity and there’s almost no point in trying to figure out whether there’s truth on a given subject,' says Paul Barrett, deputy director of New York University’s Stern School of Business and Human Rights, who has written extensively on misinformation in election cycles."