Experience Stern | News & Events

Excerpt from China Radio International -- "The Chinese economy is just way bigger than it was 25 years ago. It's actually 30 times approximately as large as it was. And so it's absolutely natural that you would expect, as the economy grows bigger, the headline growth number would decline and to some extent, this transition from sort of an investment economy to a more service and consumption-driven economy is, I think, showing up in the numbers that we see."

Excerpt from The Globe and Mail -- "'Every media company in the world has visions of a buy button but it hasn’t worked,' Mr. Galloway says. 'It’s a consumer behaviour thing, when I’m drinking coffee and reading the paper in the morning, I’m not in a buying frame of mind.'"

Excerpt from Marketplace -- "As the economy progresses, technological change is constantly destroying jobs while creating new ones. And so the critical question here is are we at a point where the rate of job disruption has exceeded the rate of job creation or are we ... continuing a trend of creative destruction that leads to some jobs going and some jobs coming back."

Excerpt from Bloomberg -- "I think the underlying fundamental problem is that there is very broad based weakness and fragility in the underlying global market. And so the asset prices went off on a basis of what, with the benefit of hindsight, are unrealistic growth forecasts in China and the emerging markets, in Europe, and so on. And so I think the asset prices are volatile but in the process of resetting down."

Excerpt from CNBC -- "'A year ago they (markets) believed in this rhetoric of the Chinese government that China could achieve a soft landing; they could maintain growth at 7 percent; that the Chinese were a bunch of super heroic technocrats who could not do any wrong. And now they have gone to the other extreme, saying the policymakers are incompetent; they cannot stabilize growth, their currency, their stock market,' he said."

Excerpt from CCTV -- "There are hundreds of thousands of people who are coming in illegally and there is no set standard mechanism to admit them. ... They're trying to go to the northern European countries, some of them though get stuck in Greece and Italy. It's a huge problem."

Excerpt from Agenda -- "As corporations are increasingly pressed to address environmental and social problems related to their business, the question arises whether there is enhanced compensation disclosure that could help address a pressing, generally acknowledged, societal issue: income inequality and stagnating economic mobility. While there may be little consensus that senior executive pay is too high, it is easier to find consensus on the lack of shared prosperity, and a ratio does little to capture the ethical implications of neglecting pay and other policy considerations on workers’ lives."

Excerpt from LinkedIn -- "At the heart of this year’s meetings is the evolving nature of technology, how it is uniting the world in some ways and fracturing it in others. There’s always a presumption that people will adapt to whatever the world throws at them, and that’s true… until it isn’t. Each revolution is bigger and faster than the previous one, and our current tech revolution is the biggest and fastest one we’ve seen. We know technology can be a force for both good and bad; what matters is how it’s channeled."

Excerpt from the Forté Foundation blog -- "Being an efficient, high performer is crucial but will only get you so far. Cultivating relationships and building advocates in the workplace is where you truly establish value and position yourself to be indispensable."

Excerpt from The Wall Street Journal -- "Mr. Romer’s breakthrough was to identify the unique characteristics of ideas, information and knowledge to growth: Unlike a machine or a worker, an idea, once conceived, can be reproduced and shared endlessly for free. The determinant of growth then is both how many ideas a society creates, and how quickly and efficiently they are distributed. The printing press, telegraph and universal education were all formidable innovations in the production and dissemination of ideas. Today, the computer, Internet, open-source collaboration and urbanization offer staggering potential for generating new ideas."

Excerpt from the Financial Times -- "According to Nobel laureate Professor Michael Spence of the Stern School of Business at New York University, “[the economy] is a fragile and deteriorating situation globally, with little in the way of effective counter-measures'."

Excerpt from Project Syndicate -- "When Lagarde took the helm in July 2011, she inherited an institution in crisis. The global financial meltdown in 2008 and its economic aftershocks had discredited Western-led multilateral lenders and the free-market 'Washington Consensus.' Lagarde’s leadership has helped to restore the Fund’s reputation."

Excerpt from CCTV -- "'It’s really just a combination of supply and demand factors. On the demand side, from China, we just see much lower demand for oil than was expected. At the same time, the U.S. and Europe are getting more efficient. And that’s basically run head into increasing supply in the Middle East. We’re now looking at Iran being fully open with all the sanctions being lifted, and it's just the perfect storm for oil prices,' said Professor Joseph Foudy, NY University Stern School of Business."

Excerpt for Business of Fashion -- "... Luxury megabrands have not been shy about the opportunity, investing heavily in both their own outlet stores and partnerships with off-price retailers. ... But for brands that rely on marketing their products as exclusive, offering items for up to 50, 60 or even 70 percent less than retail price can seriously undermine the perceived value of their products, says Serdari."

Excerpt from Fox Business -- "'With greater volatility around the globe, in China and emerging markets, for example, deal volumes will go down as dealmakers go into "risk off’ mode," Salomon predicted."

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."