Experience Stern | News & Events

Excerpt from Forbes -- "BCG's analysis has been eviscerated by Ralph Gomory, an iconoclastic economic analyst whose authority is not diminished by the fact that in a previous life he headed IBM's research and development department. As Gomory points out, BCG based its analysis on a crucially false assumption that East Asian economies work on American free-market principles. His conclusion is chastening: 'A real manufacturing renaissance in America - at least one based on reshoring from China - is not something we can expect.'"

Excerpt from PBS -- "I really don’t think globalization is the heart of the matter, it’s just a manifestation … a way in which corporations which are dedicated to profit only make a profit. It happens to be an unusually destructive way. But as long as that’s their dedication … then … that’s a problem."

Excerpt from The New York Times -- "Gov. Andrew M. Cuomo argues that the amendment would create jobs, increase school aid and lower property taxes. And, yes, it would do all those things. But it’s still a bad idea. Other strategies would accomplish the same goals more effectively, without the disastrous spillovers that invariably accompany expanded gambling."

Excerpt from Harvard Business Review -- "A few finance scholars, most persistently Thomas Philippon, of New York University, have also been looking into whether there’s a point at which the financial sector is simply too big and too rich—when it stops fueling economic growth and starts weighing on it."

Excerpt from Bill Moyers -- "Jonathan Haidt is a pioneer in the psychology of morality and how that feeds into politics, and it really helps with something like this where you have strong emotional passions that are irreconcilable on the left and the right."

Excerpt from The Washington Post -- "'It's like a waterfall: If you think Facebook's worth $110 billion, then Twitter's worth $50 billion, and Snapchat's worth $4 billion,' says Aswath Damodaran, a finance professor at New York University's Stern School of Business. 'If you change your frame of reference, are they paying because they think it's worth $4 billion, or are they paying because they think they can flip it to someone else to $6 billion? As long as I can sell it to someone else for more in six months, who cares what it's really worth?'"

Excerpt from Seeking Alpha -- "Aswath Damodaran, a Professor of Finance at the New York University, may not be a household name, but he's made some of the most accurate share valuations in the recent past - predicting Apple's peak and Facebook's low, to name a couple. And now, after doing his math on Tesla, Damodaran concluded that Tesla is worth $67.12. When he came up with this figure, Tesla was trading at $170.62, and after working out a comparative index, I believe he may be right."

Excerpt from Bloomberg Businessweek -- "Robert Engle, who won the Nobel prize in 2003 for his method of analyzing unpredictable movements in financial market prices, has a few unpredictable movements of his own: He won a celebrity skating competition in New York in May."

Excerpt from The Atlantic Cities -- "'If something becomes better,' Sundararajan says, 'people want more of it, not less.' In other words, an expansion of consumption possibilities leads to an increase in consumption. This is essentially a story of economic progress, Sundararajan says: new technology leads to more efficiency, which leads to an expansion in production and consumption possibilities."

Excerpt from Project Syndicate -- "For now, policymakers in countries with frothy credit, equity, and housing markets have avoided raising policy rates, given slow economic growth. But it is still too early to tell whether the macro-pru [macro-prudential] policies on which they are relying will ensure financial stability."

Excerpt from Bloomberg -- “'Some of this is just old deeds coming home to roost, and it’s taken this amount of time,' Thomas F. Cooley, the former dean of New York University’s Stern School of Business, said about the recent onslaught of fines. Cooley, who now teaches economics there, said he wonders if the global banks have the right oversight and compliance now. 'We’re a long way from there yet.'”

Excerpt from This View of Life -- "Professor Haidt is one of the world’s most famous psychologists and leading public intellectuals—having been named, for example, a 'top world thinker' by Prospect magazine and a 'top global thinker' by Foreign Policy magazine. He is especially well-known for his work on the foundations of the moral emotions. In his 2012 book, The Righteous Mind: Why Good People Are Divided by Politics and Religion, he goes further than he ever had previously in theorizing about the evolutionary origins of these emotions, and his interview proved to be a rich source of insights about the nature and development of his theoretical approach."

Excerpt from The Wall Street Journal -- "Mr. Damodaran sees Facebook as worth between $25 and $30 a share. The shift to mobile advertising doesn’t excite him because that is integral to the 40% or so revenue growth that analysts project for the next few years. 'You’d need evidence that Facebook is entering a new business' to raise those forecasts, Mr. Damodaran says. 'Nothing that Facebook has said in their quarterly reports leads me to believe that’s changed.'”

Excerpt from NPR -- "Anindya Ghose, an NYU professor who studies consumer reviews, said Vine members might review things more positively than people who had to pay for their stuff. 'As humans we are hard-wired to give in to this sort of enticement where if you continuously get things for free, then you're more likely to be biased positively than biased negatively,' he said."

Excerpt from Psychology Today -- "There’s a fundamental asymmetry between the past and the future: the past represents a collection of definitive events, while the future is unpredictable, unknown, and not fixed. The authors reasoned that people who more actively seek out risk in their daily lives would also be more likely to want to travel to the 'less known and predictable future, relative to the more familiar and more predictable past.'”

Excerpt from Forbes -- "Adam Alter, assistant professor of marketing at New York University and co-author of the study, told me by email that 'people who were made to feel deprived, even briefly, were more likely to cheat for small sums of money.' This he says accounts for everyday crimes like workplace pilfering, whether it’s money from the cash drawer or pocketing office supplies."

Excerpt from The New York Times -- "This licensing model is a reasonable approach, says Arun Sundararajan, a professor in the Stern School of Business at New York University who studies the sharing economy. But it’s susceptible to problems. 'They run a higher risk of bad consumer experiences,' he says... 'It’s likely to be a new consumption experience for most people,' he says, 'so you have to hold their hands.'”

Excerpt from Mother Jones -- "'On the right, it's not that they don't have compassion,' says Haidt, 'but their morality is not based on compassion. Their morality is based much more on a sense of who's cheating, who's slacking.'”

Excerpt from Reuters -- "'If you're an average fund manager, it's very hard to consistently find the stocks that will help you beat the market,' said Stephen Brown, a professor of finance at New York University's Stern School of Business."

Excerpt from Investor's Business Daily -- "'As more people leave voluntarily, presumably many of them are doing so for something better, and that's all to the good,' said Lawrence White, an economics professor at New York University's Stern School of Business. 'It suggests they not only see opportunity but are feeling optimistic enough about their opportunities to leave the security of their current job.'"

Excerpt from The Huffington Post -- "China did not get to where it is today by allowing natural economic forces to decide the outcome. The reality is much closer to the exact opposite. An industry is targeted, and then the economic forces needed to obtain a dominant position -- including subsidies, special tax rates, exchange rates and technology agreements -- are put in place. This fundamental reality cannot be ignored."

Excerpt from Bloomberg -- "The Monte Paschi deals are part of an expanding family of structured transactions that 'depend on lack of transparency, high transaction costs, differences in financial sophistication and the erosion of fiduciary obligations in a world of caveat emptor,' said Ingo Walter, a finance professor at New York University’s Stern School of Business."

Excerpt from Vogue Italia -- (Translated from Italian using Google Translate) "A study conducted by Professor Hal E. Hershfield, of the New York University Stern School of Business, overturns the theory that the bad feelings would have deleterious effects."

Excerpt from Xinhua -- "'I think the overall idea is a good one that it would allow entrepreneurs to raise capital in a much broader way than previously possible by widely advertising their project,' said Anindya Ghose, a professor at New York University's Stern School of Business. 'In a sluggish economy, this makes a big difference. Direct solicitations through social media and internet definitely raise the scope and scale of crowdfunding,' said Ghose, who is also the co-director of the Center for Business Analytics at NYU Stern."

Excerpt from New Scientist -- "Rather than force firms into old legal frameworks, Arun Sundararajan at New York University's Stern School of Business argues that laws should be tweaked to accommodate them. 'Restaurants, hotels and yellow cabs are the old analogue to the sharing economy, and regulations were needed to keep them running," he says. "In this new digital marketplace some regulations don't fit.'"