Experience Stern | News & Events

Excerpt from Bloomberg -- “'It’s clear to me that prices are predominantly going down,' said Abrantes-Metz. 'If the argument is that someone is selling, my question is who is buying, and who benefits from prices going down to an extent that could be driving them further down? We should have a fix that’s based on actual trades that are visible to the market. We need to reduce the ability to manipulate it, independently of whether or not it has already been abused.'”

Excerpt from Financial News -- "Only UBS has announced a move radical enough to distance itself from the capital markets business, to save its crown jewel and restore shareholder value, and the stock market has begun to buy into it. There is plenty of room and still time for others to make similar strategic changes."

Excerpt from Forbes -- "Most Americans own their homes with freeholds–that is to say, the title lasts forever. Leaseholds in the UK and Singapore can last anywhere from a very short time to 999 years. If people didn’t care about the distant future, they should be indifferent as to whether they have a freehold and a, say, 200 year leasehold."

Excerpt from Just Security -- "This year the State Department has increased attention to issues of corruption in its Human Rights Reports. In recent years it has devoted enhanced attention to other evolving human rights subjects such as the treatment of LGBT communities, or persecution directed against bloggers and others using social media. Greater attention to the constellation of national security issues in future Human Rights Reports will both help inform the human rights debate globally, and encourage a more rights-oriented debate on those issues here at home."

Excerpt from The New York Times -- "In his book 'The Righteous Mind: Why Good People Are Divided by Politics and Religion,' Jonathan Haidt, a social psychologist at New York University’s Stern School of Business, argues that the culture has shifted toward promoting social and professional manipulation over morality. 'Our reasoning appears to have evolved not to help us seek the truth but to help us win arguments.'”

Excerpt from The New York Times -- "Today’s regulatory misalignment is slowing the immense innovation and economic growth it will generate. It’s time to place more trust in the digital trust infrastructure, and give the 'sharing economy' platforms their fair share of the regulatory responsibility."

Excerpt from Business Insider -- "A big part of the problem is that Russia is a declining power, and it’s in the West's best interest to let that slowly play out over time. But the recent response on Ukraine pushed too hard, prompting President Vladimir Putin to retaliate with a decisive response. To say the US-Russia relationship is presently broken is an understatement."

Excerpt from Yahoo! Finance -- "In fact, the elimination of many fees, and clarity on other penalties and repayment terms, is saving consumers $12.6 billion annually according to a paper published Jan. 26 by a team of academics led by economist Johannes Stroebel of New York University. The team found the true cost of credit – interest rate plus fees – has shrunk significantly since implementation of the CARD Act, and even more for consumers with poor credit."

Excerpt from Financial Times -- "In New York, Sam Craig, professor of entrepreneurship and arts and media management at NYU Stern, highlights the power shifts in the industry. 'Control is passing from the firms to the consumer,' he says."

Excerpt from GQ -- “'The thing that's really striking to me is that a lot of people who use Uber—it's not like they used to take taxis,' says Arun Sundararajan, a professor at NYU's Stern School of Business who specializes in the digital economy. 'It's almost like you're inventing a new way of organizing your day because you can get a car in three minutes. You can define a new lifestyle for yourself.'”

Excerpt from The New York Times -- “'Our analysis does suggest that unconventional monetary policies (including QE and forward guidance) can build future hazards by encouraging certain types of risk-taking that are not easily reversed in a controlled manner,' write the authors, the economists Michael Feroli of JPMorgan Chase; Anil Kashyap of the University of Chicago; Kermit Schoenholtz of New York University; and Hyun Song Shin of Princeton."

Excerpt from CBS News -- "They do represent the future of digital money because for the first time we have a technology that is allowing us to create digital money that is like cash."

Excerpt from Reuters -- "In the paper, also co-authored by professors Hyun Song Shin of Princeton University and Kermit Schoenholtz of New York University, the economists concluded that the current policy stimulus 'is not a free lunch' and can bring about disruptions when that accommodation is lifted. 'Perhaps the domestic macroeconomic fallout from exit will be as gentle as was the impact from the 2013 "taper tantrum,"' they wrote. 'However, such a benign outcome is not guaranteed.'"

Excerpt from Bloomberg -- "Unusual trading patterns around 3 p.m. in London, when the so-called afternoon fix is set on a private conference call between five of the biggest gold dealers, are a sign of collusive behavior and should be investigated, New York University’s Stern School of Business Professor Rosa Abrantes-Metz and Albert Metz, a managing director at Moody’s Investors Service, wrote in a draft research paper."

Excerpt from CNBC -- "Given Google's massive toehold in its core moneymaking market, analysts say the company isn't yet betting the farm. 'It's not like [Tesla Motors co-founder] Elon Musk building a big factory and hoping that he can sell enough cars to pay it off—none of Google's moves are costly enough to threaten the cash cow,' said NYU's Schilling, noting that by not just doubling down on search, Google is making sure it will be around no matter in what direction the world will shift."

Excerpt from Project Syndicate -- "According to the positive narrative about emerging markets, industrialization, urbanization, per capita income growth, and the rise of a middle-class consumer society were supposed to boost long-term economic and sociopolitical stability. But in many countries recently wracked by political unrest – Brazil, Chile, Turkey, India, Venezuela, Argentina, Russia, Ukraine, and Thailand – it is the urban middle classes that have been manning the barricades."

Excerpt from Voice of America -- "No one really knows why the bitcoin broker shut down. But economics professor Arun Sundararajan says signs point to a security flaw. 'It seems to have been a security breach more than anything else where a lot of the bitcoin was stolen by hackers. And as a consequence, Mt. Gox had to stop trading. And of course this has sort of lowered the value of the bitcoin traded at Mt. Gox considerably,' said Sundararajan."

Excerpt from Bloomberg -- "New York University finance professor Aswath Damodaran writes: 'I don't think that Facebook's management is doing this deal for defensive reasons or because they have explicit plans for generating value, at least as of now. It is WhatsApp's large, growing and engaged user base that makes it so attractive to Facebook, especially given how much the market is pricing all of those factors. You may find it difficult to believe that someone as smart as Mark Zuckerberg would pay $19 billion without a clear vision of how he plans to make money off the deal, but I don't.'”

Excerpt from Bloomberg -- "In 1980, if you were a high school graduate and you compared your average wage that you earned to a college graduate, the college-educated graduate made about 20% more than you did. Today, the college graduate makes almost twice as much as the high school graduate. And as Chair Yellen said, the two forces that drive that, primarily, are globalization and technology. In other words, there's been an increase in the demand for high-skilled workers...So today, if you are a high school educated worker with no post-secondary education and you go into the labor force, 90% of the low-wage jobs are held by people with only a high school education. So the key is, how do you get more people into the high-skill category?"

Excerpt from Bloomberg -- "There are some important parallels between JCPenney and companies generally in turnarounds and country turnarounds... So, countries that have turned themselves around, in particular, emerging markets, who, in the last three decades, went from third world countries to emerging markets, did it by doing three things. They were disciplined, they provided clarity, and discipline and clarity produce trust. It's the same thing for corporations."

Excerpt from WalletHub -- “Since a lot of the lobbying is hand-to-hand and among personal contacts, money calculations would be misleading. The Academy has rules about this – a recent case had a movie removed from contention for a violation. Still, you have to believe that if they need these rules, the rules get breached.”

Excerpt from Forbes -- "Researchers Uma R. Karmarkar and Bryan Bollinger report their preliminary findings in their working paper BYOB: How Bringing Your Own Shopping Bags Leads to Treating Yourself, and the Environment."

Excerpt from The Huffington Post -- "If you count libertarians as conservatives ... that's going to really dilute your conservatives. What we're talking about are social conservatives. To say that you're an economic conservative isn't really important psychologically. The psychological variable here ... is really about social conservatives. It's really important that libertarians be left out [of the 'conservative' classification]."

Excerpt from The Wall Street Journal -- “'This is one of those companies where you do a traditional cash-flow valuation of the business and it is really tough to justify the valuation that they’re at,' Mr. Damodaran said in an interview. 'But there are a lot of people who have tried to sell short who are getting steam rolled.'”

Excerpt from The Huffington Post -- "Limited individual acts of kindness, according to Jonathan Haidt, a University of Virginia psychologist and author of The Happiness Hypothesis may not be fulfilling. He notes that 'If you do a random act of kindness for a stranger and it's a one-shot deal, there's much less likelihood that you're going to see any benefit.'"