Experience Stern | News & Events

Excerpt from MarketWatch -- "Whatever else you might say about today’s stock market, it is nowhere near as overheated as it was 14 years ago. And that’s not a subjective view. My conclusion is derived from a data-driven focus on objective measures that were identified by the leading academic study of investor sentiment. That study, by Jeffrey Wurgler and Malcolm Baker, who are finance professors at New York University and Harvard Business School, respectively, was titled 'Investor Sentiment in the Stock Market.'”

Excerpt from Forbes -- "Baumol argues that governments around the world have misread the threat posed by increasing healthcare costs because they do not understand that 'the economy’s constantly growing productivity simultaneously increases the community’s overall purchasing power and makes for ever improving overall living standards.'”

Excerpt from The Huffington Post -- "Brandon Fuller, the deputy director at the Urbanization Project, described the maps as 'a plea for some long-term planning' in a phone interview with The Huffington Post. Data visualizations like these, he said, have the power to help the public grasp just how quickly cities transform."

Excerpt from CNC World -- "I would not invest in Bitcoin if you're looking for a rate of return. I don't think you could consider it a good investment, especially for a poor household in a developing country that may not have much savings. Bitcoin is incredibly risky and there is no intrinsic 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 Financial News -- "But the real story may be that the Fed, itself under new management, truly wants to be a different type of regulator – one that is going to be strict, proactive and controlling. The post-crisis environment certainly creates an expectation for such a regulator, one whose stress tests, for example, are taken seriously. Rejecting Citigroup, without much explanation, might be an indicator of this transition."

Excerpt from The New Yorker -- "In one fascinating study by the business-school professors Jerker Denrell and Christina Fang, people who successfully predicted an extreme event had worse overall forecasting records than their peers. 'People who make these bold predictions tend to overestimate how likely extreme events are, so, while they may happen to hit it right once in a while, over all they're not actually good forecasters,' Fang told me."

Excerpt from OZY -- "What fiscal discipline means is no more complicated than the story of the ant and the grasshopper: it means saving when times are good so when times are bad you can have a surplus. The best third world example of this is Chile. Chile is a third world ant; the United States is virtually a grasshopper."

Excerpt from Financial Times -- "Prof Kilduff argues that we have a fundamental need to compare ourselves with others who we see as similar. 'It may lead to a preoccupation that goes beyond what is strictly rational,' he says. 'It can promote scandalous and unethical behaviour, the kind of thing that blows up.'”

Excerpt from Fortune -- "'The idea is not completely crazy,' says Baruch Lev, an accounting professor at NYU's Stern School. 'It's been shown that the benefits of advertising stretch over two to three years.' But Lev insists that assuming they last a decade has no economic rationale. 'I'd recommend perhaps writing off half in the first year, and half in year two, so all the ad spend from year one is expensed by the end of year two,' he says. 'Ten years is extreme.'"

Excerpt from Bloomberg TV -- "In the short term, I would say that with the recovery of the economy and with the Fed still gradually exiting QE... the stock market can go higher, but I would say given what has happened to P/B ratios, by the second half of the year we might have a correction, I would say, of less than ten percent."

Excerpt from Fast Co.Design -- “When your first sponsor is Citi and it’s called Citi Bike, there’s not a lot of value for other advertisers. They should have known upfront they were selling one sponsorship, and should have planned accordingly.”

Excerpt from Forbes -- "One approach to providing environments that foster innovation is to take functional groups out of their silos, create multifunctional teams and locate them 'off campus': even if only in a different building across the street. Placing multifunctional team members in close proximity, away from headquarters encourages teamwork, bonding, more regular communication, and shared goals."

Excerpt from The Wall Street Journal -- "Lawrence J. White, a professor at New York University's Stern School of Business, said AIG challenging its regulator in federal court is 'not a once-in-100-year event, but it is unusual.' Most companies don't want to get on the bad side of the regulators, 'but if they really feel this is an egregious situation, they will just grit their teeth and appeal to the court,' he said."

Excerpt from Business Insider -- "'We believe it’s vastly overvalued and that the love affair with Twitter is about to come to an end,' said Galloway, who also runs the L2 digital innovation think tank. 'If you look at the number of advertisers advertising on each platform, LinkedIn actually has more advertisers than Twitter.'"

Excerpt from CNBC -- "'He is one the world's top academic economists,' said Arun Sundararajan, an economist at New York University's Stern School of Business and an expert on India. 'In my view, there's a lot of optimism in putting him in charge because it means we will start getting world-class thinking on fiscal and monetary policy.'"

Excerpt from Marketplace -- "Roy Smith teaches finance at NYU. And he spent much of the 1980s at Goldman Sachs. 'You have to remember that the S&L crisis actually spawned two of the financial industry's most lucrative product streams,' he says. 'One was the securitization of mortgages into mortgage-backed securities. Hello! Those things that blew up in 2008...' They were created for sale to savings and loans. 'The other was the derivatives business.'"

Excerpt from am New York -- "'Education should be as visible and evident in the city as New York Fashion Week or when we hear about a cool new exhibition at MoMa,' said Adam Brandenburger, an NYU professor who will be lecturing on game theory at Sweet Water Social in NoHo. Brandenburger added professors have become increasingly uncomfortable with the notion that access to education is restricted."

Excerpt from Bloomberg TV -- "Crisis management always boils down to the same three things. Acknowledge the issue, get the top guy or gal addressing the issue, and then overcorrect. And I think they've done everything except address the issue when it actually happened and that's what they're getting heartache about. She gets a pass. She's fine. She's been on the job six weeks."

Excerpt from The New York Times -- "Indeed, many Turkers are actively helping to put themselves out of jobs. 'Yesterday it was spam moderation,' said Panos Ipeirotis, a professor of business at New York University. 'And today it’s transcriptions and translation. Once we help computers solve the problem of today, we move on to more challenging tasks. Maybe in 10 years, it’s something we think of as completely out of the range of computers right now. I see it happening, all the time.'”

Excerpt from Bloomberg TV -- "I think Aereo is the Napster of our generation. I think it's going to be put out of business. They're taking on a 57 billion dollar industry whose infrastructure ... you can use technology to steal, and that's effectively what the industry will say these guys are doing."

Excerpt from Smithsonian Magazine -- "Even the perception of speed can be deceptive. When things come easily or quickly, when we don’t have to struggle, we tend to feel smarter, a concept termed fluency. In one study, Adam Alter and fellow psychologists at New York University asked volunteers to answer a series of questions typed in either a crisp, clear font (a fluent experience) or a slightly blurred, harder to read version (a disfluent one). The people who had to work harder ended up processing the text more deeply and responding to the questions more accurately."

Excerpt from Minnesota Public Radio -- "We're the first business school to take [human rights issues] on and I'm proud that Stern has done that. This should be taught at every business school, frankly. And people coming out of business school ought to have opportunities to go work in companies in the operational side to lead companies who have some background in human rights. By and large, I don't think that exists today."

Excerpt from HBS Working Knowledge -- "Zhu has other research in the works related to ad-sponsored business models, including one with Robert Seamans at New York University that considers how ad-sponsored free newspapers affect pricing and content delivery strategies of incumbent newspapers that charge subscription fees."

Excerpt from Project Syndicate -- "Indeed, as was the case with the global financial crisis, investors seem unable to estimate, price, and hedge such tail risks properly. Only time will tell whether their current nonchalance constitutes another failure to assess and prepare for extreme events."

Excerpt from The Globe and Mail -- "Companies with corporate jets underperform market benchmarks for average shareholder return by 4 per cent, New York University Professor David Yermack found. One interesting tidbit in the study, Bryant University Professor Michael Roberto notes, is that companies with jets also tend to have CEOs with long-distance golf club memberships."