Experience Stern | News & Events

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.'"

Excerpt from Reuters -- "...Bitcoin isn't well understood right now. And so when something like this happens on what used to be the largest exchange, investor faith in Bitcoin goes down. And this hurts Bitcoin investors around the world even if there were no problems with their exchanges."

Excerpt from Bloomberg -- “'I would use more aggressive monetary policy to weaken the currency,' Roubini said at a lunchtime event at the Toronto Hilton, referring to the Canadian dollar. 'That’s what I would do. More than fiscal stimulus I would say a commitment to keep rates low for longer, or having an easing bias, something along those lines.'”

Excerpt from Reuters -- "Canada's housing market is at risk of a meaningful correction, Nouriel Roubini said on Monday, though the economist known as 'Dr. Doom' for his often gloomy forecasts said he was not predicting a crash."

Excerpt from TopMBA -- “'The changes that have occurred,' explains Chernoff, 'come about because many industries have been basing their decision making on intuition and experience. Companies realize now they need managers with higher level analytic skill, being able to work with big data that companies are amassing. It’s not sufficient to just be able to run Excel.' MBA students are alive to this, he says, having spent time in industry, and it is the MBA community in which supply chain expertise is really being cultivated."

Excerpt from Livemint -- "The Chinese stimulus of the past five years has been a big driver of the global rebound from the abyss of fall 2008. As the stimulus subsides and the Chinese government looks for a shift from investment-driven growth to consumption-driven growth, the rest of the world cannot escape a difficult adjustment."

Excerpt from The New York Times -- "In practice, however, winner-take-all effects still appear to dominate. Long-tail proponents predict that the least-popular offerings should be capturing market share from the most popular. But as Anita Elberse, a professor at the Harvard Business School, recounts in her 2013 book 'Blockbusters,' the entertainment industry’s experience has been the reverse. Digital song titles selling more than one million copies, for example, accounted for 15 percent of sales in 2011, up from 7 percent in 2007. The publishing and film industries experienced similar trends."

Excerpt from PsychCentral -- "The researchers, Uma R. Karmarkar, Ph.D., assistant professor of business administration at HBS, and Bryan Bollinger, Ph.D., assistant professor of marketing at New York University’s Leonard N. Stern School of Business, were surprised to find that the influential effects linked to reusable bags were not causal, but seemed to worked in tandem, pushing shoppers in seemingly opposite directions at the same time."

Excerpt from Bloomberg -- "In a paper for the National Bureau of Economic Research, economist David Yermack said that Bitcoin shifts too much to be a unit of account or a store of value."