Experience Stern | News & Events

Excerpt from Reuters -- "'The larger you are, the more difficult it is for you' to generate market-beating ideas, said Marcin Kacperczyk, an assistant professor of finance at New York University's Stern School of Business who focuses on mutual funds. 'If you have too much money to manage, you are using the first dollar to find a good pick, but the subsequent picks are naturally worse.'"

Excerpt from New York Daily News -- "Bank runs in the U.S. are rare. Even during the financial meltdown, when financial institutions were on the brink of collapse, there were hardly any runs on banks, White noted."

Excerpt from New York Magazine -- "One bet no one braved was on the future of Intrade itself. A wager on whether the site would close by December 2012 didn’t get any takers. 'Even if you were willing to take that bet and you won,' explained NYU Stern’s Panos Ipeirotis, 'who would pay you?'"

Excerpt from CNBC -- "He said the game is rigged in favor of incumbent managements and that an activist investor, who like all investors are motivated by hopes of better returns, helps shift the balance of power back. Damodaran added that the sign of a good activist is targeting the right company: 'Once you rock the boat, good things tend to happen.'"

Excerpt from Barron's -- "While the Dow continued its giddy climb to ever-new records last week, Barofsky held forth in an interview conducted by economics professor Thomas Cooley at NYU's Stern School of Business about Barofsky's best-selling book, Bailout, and his impressions of the effectiveness, or lack thereof, of TARP, the auto bailout, the health of Goldman Sachs, Morgan Stanley et al., the Bank of America takeover of Merrill Lynch and surrounding lawsuits, the Dodd-Frank law, and the Volcker rule on proprietary trading."

Excerpt from BBC News -- "I don't think we'll get to the point in which the governments are going to impose specific rules that you cannot take so much money out. I don't think we're going to get there. But what's going to happen is that people are going to take their money, transfer it to foreign countries, and then the ECB will have to support with huge amounts of money a number of countries -- not only Cyprus but also Spain, Italy, Portugal, Greece."

Excerpt from WIRED -- "Because a steady supply of current preferences and intent is absolutely critical to the success of Graph Search. Yet this supply of social information on Facebook could slow as the very demand for it grows. And it’s in this tenuous balance of Facebook vs. Facebook — not between Google and Facebook or LinkedIn and Facebook or Twitter and Facebook — that the success of Graph Search and its impact on the company will be determined."

Excerpt from C-SPAN -- "Discipline isn't what you think it means in the context of economic policy. Discipline doesn't mean fiscal austerity nor does it mean wasteful spending. To put it in terms of eating habits, discipline isn't crash dieting or binge eating...Discipline is about finding that middle path to prosperity. So discipline means a sustained commitment to long-term prosperity that's both vigilant and flexible and, very importantly, puts what's good for the country as a whole over what's good for any individual, interest group or person running for political office."

Excerpt from The New York Times Magazine -- "Inspired by the psychologist Jonathan Haidt, whose research connects modern science and spiritual wisdom, Sagmeister’s investigations have included meditation, cognitive therapy and mood-altering pharmaceuticals."

Excerpt from HuffPost Live -- "There's what I call right now a false dichotomy between austerity and stimulus. And one of the major themes that I talked about is discipline. And discipline doesn't mean what people typically think it means...Discipline means a sustained commitment to prosperity."

Excerpt from GrubStreet -- "'Negotiations go more smoothly if you talk less about the specific dishes and more about people's interests,' says Steven Blader, who teaches negotiation courses at New York University's Stern School of Business. 'Do they love spicy food? Try to figure out what it is that's underlying their preferences so you don't get a "no" right away. It's a collaborative approach.'"

Excerpt from The Washington Post -- “'The cycles of overall returns haven’t changed much in two centuries,' Sylla said in an e-mail. 'The market is as risky and potentially profitable as it was a hundred and two hundred years ago.'”

Excerpt from The Huffington Post -- "Haidt concludes that human beings are willing to entertain new ideas and conflicting beliefs when we like the person sharing those ideas or beliefs. Relationship trumps reason, in which being smart means simply being more adept at finding concurring rationalizations for our own beliefs. Engaging in a civil disagreement demands moving beyond building arguments and moving into building relationships."

Excerpt from Yahoo! Finance -- "'We are in a position right now where first world countries, like the United States and countries in the Eurozone, look a lot like third world countries from thirty years ago,' says Henry. 'The key idea is that today's emerging markets, which used to be third world countries, turned themselves around by applying three things: discipline, clarity and trust.'"

Excerpt from Bloomberg TV -- "We're still a ways off from where we were in 2007 once we've adjusted for inflation. That's really the key thing. And corporate profits, as high as they are, firms are still not investing the way they were a decade ago. And until we get aggressive corporate investment, property, plant, equipment, etc., we're not going to see the kind of continuous employment gains that we need to see to get unemployment down and, as you say, to get the middle class wages up."

Excerpt from CNN -- "...the female example was seen as more likable, the complete opposite of the original experiment done a decade ago. When it came to whether the students would want to work for the woman versus the man, again in 2013, the woman came out on top, another sign of progress."

Excerpt from Fox Business -- "Here is the key thing. Discipline is not mean what people think it means. Discipline does not mean austerity. Discipline does not mean runaway stimulus either. So in the same way which binge eating is not good for you, neither are crash diets. Discipline needs a long-term focus. And so my favorite example of what fiscal discipline really means is a simple story. Go back to the ant and the grasshopper. When times are flush, you save so that you have money when times are lean."

Excerpt from MSNBC -- "Three decades ago, we went around the world and taught third world countries about the three things that are needed to get the economies back on track: discipline, clarity and trust. And now there's an opportunity for us to learn from what they've been doing the last three decades and turning themselves around."

Excerpt from Forbes -- "In the 1960s the economists William Baumol and William Bowen identified the productivity problem at the root of the rising relative cost of higher education. They identified education as a profession where labor productivity was not amenable to improvement through technological advance."

Excerpt from Forbes -- "The world economy faces a critical moment. Former 'Third World' nations have engineered a historic economic turnaround, becoming the emerging markets that now drive global growth. It seemed important to me that they did this with three decades of economic reforms that were pushed on them by the First World—nations now battered by crises, but whose governments appear loath to take their own prescriptions and seem trapped in ideological debates that today threaten to undermine their recovery."

Excerpt from CNBC -- "'Things are looking good. Companies are returning record amounts in cash flows. I think if you look at the collective dividends and stock buybacks, last year's going to set a record,' he said."

Excerpt from CNNMoney -- "Well I think there are three sets of reasons. One is that the tail risks of a year ago from the global economy are lower. The eurozone is not blowing up, we avoided the fiscal cliff in the U.S., there is no Chinese hard landing, there is still no war between Iran and Israel. Those were significant risks in the first half of last year. Secondly, there's a hope that while economic growth has been really anemic, some of the indicators coming from the U.S., even Japan or China, suggesting a little bit of better growth, not in the eurozone, not in the U.K., but in other parts of the world. And three, there are the effects of all of these new rounds of unconventional monetary easing. As I said, the Fed is doing it, the Bank of England, the Bank of Japan, the Swiss National bank and eventually, too little too late, even the European Central Bank will do it."

Excerpt from Science News -- "The study’s methods are sound, says New York University’s Sinan Aral, an expert on information diffusion in social networks. But the computer performed best on somewhat obvious traits, such as gender, age, and race. Since the researchers didn’t compare the technique with any others, he says, it’s hard to know how its predictive power would stack up against correlations based on other easily available data such as census information and voting records."

Excerpt from US News & World Report -- "I don't think we should make the case that the sharing economy should be completely unregulated, or that it will self-regulate perfectly on its own, but I think it's a good point in time to step back and think about, why do we have regulation on apartments, why do we have regulation on taxi cabs or rental car companies in the first place, and what are the things that the regulators used to do ensuring safety...which parts of these were being done by the marketplace themselves, and which parts do the regulators need to step in for?"

Excerpt from The Wall Street Journal -- "Mr. Altman said the new ETF, called 'Market Vectors-Altman Default & Distressed Bond ETF,' will begin with about half distressed bonds and about half defaulted, but the ratio can shift over time. It won’t directly track his index."