Experience Stern | News & Events

Excerpt from the Financial Times -- "Dunning and Kruger set tests of grammar, logic and even having a sense of humour to a group of undergraduates. Then they asked them how they stacked up to others in the group. Was their grasp of logic and grammar better or worse than average? Were they better able than other students to distinguish funny from unfunny jokes?"

Excerpt from The Wall Street Journal -- "Mr. Sylla tells me there are 'precious few minus signs before any rates' in his book ['The History of Interest Rates']. The only ones he can recall were on U.S. Treasury bills around 1941, just before Pearl Harbor. But 'later research showed that anomaly might be explained by an option value embedded in bills then, so the negative yields may have been an artifact.' Mr. Sylla sums it up: 'There were no negative bond yields in 5,000 years of recorded history.'"

Excerpt from Poets & Quants -- "...ultimately I knew that NYU Stern was the better fit. It offers so many concentrations and clubs that will allow me to explore opportunities in a city with so many intersecting industries. Indie film still reigns here. And there’s still a lot of room to grow in terms of the tech scene and VC funding."

Excerpt from The Atlantic -- "Those critics should grapple with people who believe students are best positioned to receive an excellent education when primed to consider nothing off limits; or that learning to face wrongheaded or even hurtful ideas is, beyond academic necessities, a key life skill; or that, per Greg Lukianoff and Jonathan Haidt, campuses that police speech 'engender patterns of thought that are surprisingly similar to those long identified by cognitive behavioral therapists as causes of depression and anxiety. The new protectiveness may be teaching students to think pathologically.'"

Excerpt from MarketWatch -- "Regulation is likely to help Airbnb in the long run, as it will increase awareness of the service and likely push more people to list their homes.'As the regulatory framework gets clearer, the supply will go up and that will naturally, for some period, lower prices,' Sundararajan said. Sundararajan added that the increased supply will likely be met by increased demand, as more of the U.S. finds out about the service, meaning that it’s hard to predict the price trend over time."

Excerpt from Reuters -- "Jonathan Haidt, a social psychologist at New York University’s Stern School of Business, studies how people adopt their political beliefs. 'Trump is the first candidate to speak to—and speak for—working-class white men in a long time,' Haidt says. That separates him from the last two Republican nominees. Mitt Romney, who lost in 2012, didn’t do that, 'and John McCain didn’t particularly reach out to that constituency' in 2008."

Excerpt from Reuters -- "'My biggest concern, which I voiced at the start of the year and continue to worry about, is the sustainability of cash flows. Put bluntly, U.S. companies cannot keep returning cash at the rate at which they are today,' Aswath Damodaran, a professor of finance at New York University, writes in his blog."

Excerpt from the Financial Times -- "The big picture is that policymakers are aware we're in an era of low inflation and low growth. And that means that the neutral real interest rate, the equilibrium real interest rate, is very low. Maybe less than 1%. And that means that when we get to the next recession, it's very likely that interest rates are going to fall back to zero again in nominal terms. And they're thinking about what kinds of policies might make sense in a world like that to make monetary policy work."

Excerpt from The Economist -- "Stehlik recommends a simple exercise you can do on a regular basis to clarify your own intentions toward those around you. Draw a dial spanning from empty to full, like a fuel gauge. Write down the names of all the people in your inner circle: your direct reports, spouse, friends – even your boss. Next, evaluate where each person’s gas gauge is at. Do they seem like they’re a bit depleted? Running on empty? Now ask yourself: What can I do to bring this person’s gauge to full? The best, most effective feedback comes from this genuine desire to help others."

Excerpt from Bloomberg -- "'There are two main reasons for tech companies to lose money early to make money later, and neither of them apply to Uber.' ... 'Ride sharing has grown faster, gone to more places and is used by more people than most people thought it would be able to, even a couple of years ago. The pace of growth is also picking up.'"

Excerpt from The Washington Post -- "'I think central banks have to be very careful not to overreach,' said Peter Blair Henry, dean of New York University’s Stern School of Business. 'Central banks are really very limited.'"

Excerpt from the Financial Times -- "We expect so much from our central bankers because monetary policies has really run, in many ways, its course. Monetary policy has been really competent and needs to continue to be competent. But it's too much to think that monetary policy can fight a liftoff in growth at this point and time. That really has to come from real side reforms that our lawmakers, both here in the United States and abroad, need to do."

Excerpt from the Financial Times -- "If ValueAct gets traction, other management teams should stand ready to defend themselves, [Prof. Roy Smith] says. He adds that for too long the entire US banking sector has been 'adrift', failing to address one fundamental question. 'If you’re in a business where your cost of capital is greater than your return, someone should ask you, 'why is this a viable business?'"

Excerpt from The New York Times -- "When interest rates are lower, earnings are worth more and share prices tend to rise, said Aswath Damodaran, a finance professor at New York University, who has explained this truth in elaborate formulas, many of which he posts on his website. But the simplest way of looking at it, he says, and the most important for an investor, is to consider how interest rates affect the value of a stock and a bond. 'Low rates have had a big effect on the stock market,' he said. 'Stock is much, much cheaper than bonds at today’s interest rates.'"

Excerpt from the Financial Times -- "Peter Henry, the dean of New York University’s Stern School of Business, says central bankers still have the tools to provide a floor under the economy, but cannot provide a springboard for growth in the absence of action by lawmakers in areas such as immigration, trade and fiscal reform. 'Negative real rates have not yet spurred a recovery in investment. So one has to ask the question is there something else standing in the way,' the economist says."

Excerpt from The Wall Street Journal -- "Mr. Damodaran, who likes to be provocative, says with rates this low, traditional valuation metrics are distorted. Instead, the inability of companies to keep paying off their investors will cause the next downturn. 'This is the weakest link in this market,' Mr. Damodaran said in an interview. 'We know cash flows will go down. What we don’t know is what the market is pricing in.'"

Excerpt from The New York Times -- "Peter Blair Henry, the dean of the Stern School of Business at New York University, asked a panel of central bankers whether they were doing enough to explain the limits of their own powers, to focus the public on the importance of fiscal policy."

Excerpt from Bloomberg TV -- "I think there's a strong view that monetary policy has done most of what it can on its own to really generate a recovery. Monetary policy has been really competent. I think there's a strong sense that we are awaiting for the fiscal side of the house, if you will, and for lawmakers to really step up and do what must be done."

Excerpt from Bloomberg -- "We've got a yield curve that's flat. So the banks can't make money from the spread. And then you have an economy that's not boomed, right? We've had a pick up in lending, but nothing like the lending pick up you naturally would expect in a recovery economy. You've got fintech, which is coming and eating their lunch, certainly looked like it was eating their lunch in certain sectors of a loan market, and you've got new players coming along looking for money transfer, which is another source of profitability on the banks. Regulatory trusts are going up. You can't spend money on new technology. So you have all these things that are hurting the banks here. On the other hand, let's recognize that the banking system will survive. It's just going to be generating returns that are really low."

Excerpt from Clear Admit -- "#SternLAUNCH is in full swing! MBA1s Keshav, Evan and Melinda meet Dean @PeterBlairHenry

— NYU Stern (@NYUStern) August 24, 2016"

Excerpt from The Washington Post -- "What are the implications of the so-called sharing economy, brought on by such companies as Uber, Lyft and Airbnb? That’s what author Arun Sundararajan, a professor at New York University, aims to answer with his new book, 'The Sharing Economy.' In the book, which he’ll discuss on Tuesday at Busboys and Poets, Sundararajan considers what the future could look like if sharing becomes an even bigger economic force."

Excerpt from Bloomberg -- "'Adding more density to the cities won't work anymore,' says Alain Bertaud, a senior research scholar at New York University who has consulted in China for decades. The problem, he says, is that those cities are increasingly fragmented."

Excerpt from Bloomberg -- "'You won't find too many technology companies that could lose this much money, this quickly,' said Aswath Damodaran, a business professor at New York University who has written skeptically of Uber's astronomical valuation on his blog. 'For a private business to raise as much capital as Uber has been able to is unprecedented.'"

Excerpt from The Detroit News -- "'Amazon is the great white shark of retail and its appetite is not that discerning — it will eat anything,' said Scott Galloway, professor of marketing at New York University’s Stern School of Business. 'I think they’ll go after every large consumer category. It’s not if, it’s when.'"

Excerpt from El Pais -- "Professor Robert Salomon, NYU Stern School of Business has recently published a book called Global Vision: How Companies Can Overcome the Pitfalls of Globalization. The book discusses the reasons why companies still have difficulty in foreign markets..."