Experience Stern | News & Events

Excerpt from The Washington Post -- "To read William L. Silber’s engaging biography of Paul Volcker in the fall of 2012 is to be reminded of a time, not so long ago, when a cadre of public servants, respected for their knowledge, integrity and practical experience, were allowed to guide government policy even as presidents, partisans and ideological fashions swept in and out of Washington."

Excerpt from Project Syndicate -- "Indeed, in the United States, lessons from the Katrina experience appear to have strengthened response capacity, as shown by the rapid and effective intervention following Hurricane Sandy. But investments designed to control the extent of damage seem to be persistently neglected. Redressing this imbalance requires a focus on key infrastructure."

Excerpt from The Atlantic -- "Just after the election, Republicans are hurting -- but they'll calm down just as Kerry supporters did when Bush was elected to a second term in 2004. The question, then, is why we're treated to this spike in melodrama every four years. And the answer comes down to a simple psychological truth: that people have no idea how much pain they'll feel when they experience a dreaded outcome."

Excerpt from The New York Times -- "In other words, America faces many serious threats, but each side sees some and denies others. Morality binds and blinds."

Excerpt from Bloomberg -- "The absolute best thing that we can do for Europe is to engineer our own economic recovery as fast as we can."

Excerpt from Bloomberg Businessweek -- "The case could have broad implications for similar litigation around the world. 'It’s a surprise,' says Lawrence White, an economics professor at New York University’s Stern School of Business. 'It may well be that we will see more of these types of things.'”

Excerpt from The Guardian -- "To Savov, garbage is valuable not only for its own worth, but because, in a mathematical sense, it represents many of the things that people and corporations treasure most. Maybe, just maybe, he implies, the rises and falls in garbage production reliably and fairly accurately measure what a society is worth."

Excerpt from Policy Options Magazine -- "Renowned American economist William Baumol was among the first to identify the condition in which industries dependent on personal services — education, the performing arts and health care — prove resistant to productivity gains."

Excerpt from the Journal of Portfolio Management -- "Given their value and relative scarcity, it is no surprise that identifying alpha hunters is not an easy task. While all marketing disclaimers state that past performance is not an indication of future performance, past alpha generators are a good place to start when looking for investment stars."

Excerpt from India Tribune -- "The keynote speaker was Dr. Geeta Menon, Dean, Undergraduate College and Abraham Krasnoff, Professor of Global Business, Stern School of Business, New York University. Dr. Menon was honored for her achievement in the field of education."

Excerpt from Bloomberg -- "In an analysis of the extent to which stock and bond prices forecast a company’s future profit, Jennie Bai of the New York Fed and Thomas Philippon and Alexi Savov of New York University’s Stern School of Business said what they called financial market informativeness hasn’t increased in the past half century. Earnings surprises have grown relative to total uncertainty, they said."

Excerpt from CNN Money -- "When Professor Aswath Damodaran sets out to teach a class or give a lecture, his goal is to convert each student into a born-again finance enthusiast. Damodaran's passion for teaching finance has garnered him high marks. In 1988 and 1990, he received Stern's Excellence in Teaching Award and NYU's Distinguished Teaching Award, respectively."

Excerpt from US News & World Report -- "'It's the trading place of last resort,' says Menachem Brenner, a professor of finance at New York University. He points out that traders on the exchange floor are typically able to produce quotes for stock prices that serve as benchmarks followed by other exchanges. The NYSE floor also tends to see a spike in volume when there's some kind of anomaly in the market, which may indicate that buyers and sellers migrate to the NYSE when there's a hint of trouble."

Excerpt from The New York Times -- "Volcker: The Triumph of Persistence, by William L. Silber. (Bloomsbury, $30.)This detailed account of the economist Paul Volcker’s public service in five administrations shows how he maintained his integrity."

Excerpt from Financial Times -- "...the west seems to be paying too little attention to what has been going on in the Indian economy. Growth has slowed significantly. The fiscal deficit is sizeable. Internal political conflicts are increasing. India has all but stopped climbing the World Bank’s rankings of countries by ease of doing business – despite being far down the list to begin with."

Excerpt from Marketplace -- "Lawrence White is an economist at the NYU Stern School of Business. He says the financial crisis showed us 'just how fragile our financial system had become and how systemic roughly a dozen very large financial institutions had become.'"

Excerpt from The Huffington Post -- "Recent research in behavioral economics may help shed some light on why robust sanctions have not yet produced nuclear concessions from the regime. ... there is a widespread international norm against nuclear weapons acquisition, and Iran may well view economic punishment as a 'fee' for its nuclear pursuits."

Excerpt from Poets and Quants -- "When Professor Aswath Damodaran sets out to teach a class or give a lecture, his goal is to convert each student into a born again finance enthusiast. Damodaran’s passion for teaching finance has garnered him high marks for teaching excellence. In 1988 and 1990 he was presented with Stern’s Excellence in Teaching Award and NYU’s Distinguished Teaching Award, respectively. The impression he has left on MBA students over the years is demonstrated by his repeated rank as the leading vote-getter for Professor of the Year, an award he has received five times during his career at Stern."

Excerpt from Poets and Quants -- "'The combination of Professor Galloway’s background in brand strategy and entrepreneurship, and his unique teaching style, makes his classes among the most popular marketing courses at Stern. I consider him a mentor, a guide and an amazingly bright person I wish to become one day.' – Asel Moldakhmetova - Stern 2012"

Excerpt from Fox Business -- "Geithner’s 'lack of any experience whatsoever in the private sector is just a huge handicap,' said Yermack. 'Despite his political connections, he seems pretty unqualified to run a big bank.' Yermack also said Geithner’s relationships with other government officials could raise questions about how Citi would be regulated going forward, preoccupying the board and Geithner himself."

Excerpt from WIRED -- "...today’s internet is not just for sharing information and commerce and things: It’s now the internet for sharing and accessing real-world services. We may call it the “sharing” economy (its philosophical roots are in peer-to-peer), but the services in it aren’t free or reciprocal – these are real markets in which you pay for what you get. However, this doesn’t mean we need to regulate it with the structures and rules of the real world. It’s a mistake to assume that just because technology provides “new leverage for old behaviors” that we need old ways of regulating new things."

Excerpt from Fox Business -- "'It was chaos. People who were in the markets were shell-shocked,' said Richard Sylla, an economics professor and financial historian at NYU. 'If you were lucky enough to get through on the phone to your broker, you didn’t really know what happened. Your order was behinds hundreds and thousands of other transactions.'"

Excerpt from The New York Times -- "The global financial crisis destroyed reputations as effectively as it destroyed wealth. Alan Greenspan, Robert E. Rubin, Sanford I. Weill, Richard S. Fuld Jr., James E. Cayne — the list of the humbled is almost endless, while the number of heroes is minuscule. One man, however, bucked the trend and almost alone emerged from the crisis even more revered and admired than he had been already. And now, with the arrival of 'Volcker: The Triumph of Persistence,' Paul A. Volcker has finally been awarded a meticulous historical account of exactly how he reached his exalted position."

Excerpt from R&D Magazine -- "They calculated that 10 extra installations in a zip code increase the probability of an adoption by 7.8%. If there is a 10% increase in the total number of people with solar panels in a zip code—the 'installed base'—there will be a 54% increase in the adoption of solar panels. 'These results provide clear evidence of a statistically and economically significant effect,' says Bryan Bollinger, the other co-author and assistant professor of marketing at New York University Stern School of Business."

Excerpt from Quartz -- "A significant portion of China’s estimated $1 to 2 trillion of foreign investment will likely enter the US and other developed nations in the next decade. Now is the moment to think seriously about creating a multilateral framework for foreign direct investment."