Experience Stern | News & Events

Excerpt from Bloomberg -- "'IRR can be manipulated. The worst manipulation is investments made using the funds credit to make investments without actually calling the funds producing an infinite IRR,' [Semmens] said in an email, adding that MOIC alone measures the overall profitability of investments, but not an annual return. 'The IRR could be high but very short term such the profit might be small."'

Excerpt from BBN Times -- "Steven A. Altman, Pankaj Ghemawat, and Phillip Bastian have written 'DHL Global Connectedness Index 2018: The State of Globalization in a Fragile World' (February 2019). Most of the report is country- and region-level descriptions of the level globalization."

Excerpt from MarketWatch -- "Consider a stock market sentiment index that was introduced 15 years ago by Harvard Business School professor Malcolm Baker and New York University finance professor Jeffrey Wurgler. In a landmark study published in the prestigious Journal of Finance, they reported that their index had an impressive historical record identifying periods of extreme bullishness or bearishness."

Excerpt from Tahawul Tech -- “There is a tremendous amount of misplaced optimism, and at the same time fear about AI, which has become a buzzword. The challenge we are observing with leaders from government and businesses is that they often lack context and do not actually understand what the technology is and that’s important because the decisions they are making will have long-term ramifications.”

Excerpt from O Magazine -- "The Algebra of Happiness: Notes on the Pursuit of Success, Love, and Meaning by Scott Galloway"

Excerpt from ABC News Australia -- "Professor Alter also warned Instagram users only ever presented 'the best versions of their lives' online, which could lead to feelings of deprivation among those viewing their posts."

Excerpt from CNBC -- "NYU Stern professor Aswath Damodaran, known as 'Wall Street’s Dean of Valuation,' valued Uber at only $60 billion, saying the company is 'struggling with a way to convert revenue growth into profits.'"

Excerpt from Bisnow Boston -- "'[Competition from Marriott] is a significant challenge for a player like Airbnb,' New York University Stern School of Business professor Allen Adamson said. 'Being first matters, but being the best wins the day.'"

Excerpt from Traders Magazine -- "In 'How Do Insiders Trade?' by Patrick Augustin (McGill University, Desautels Faculty of Management), Menachem Brenner and Marti G. Subrahmanyam (New York University), and Gunnar Grass (HEC Montréal), the researchers suggest a framework for how investors might best leverage their private information in the options market."

Excerpt from The New York Times -- "I asked Gustavo Schwed, a professor of private equity at New York University who spent 24 years in the industry, to help me review the documents. Schwed pored over the many years of financial data and located two separate debt transactions, one of which was so esoteric I would never even have known to look for it. Together, these transactions explained not just the mysterious 2012 loan but, indirectly, the way the deal finally unraveled."

Excerpt from Yahoo Finance --"Maybe [the Fed is] going away from a more traditional model in which they looked at growth and inflation as the key variables to watch...They need to explain to us what kind of model they have."

Excerpt from Foreign Affairs -- "Michael Posner, director of the Center for Business and Human Rights at the NYU Stern School of Business, recommends that consultants establish clear guidelines for when to decline to work with a government, how to react when a government client asks for help on a matter that violates fundamental rights, and when to disengage from existing but inappropriate government contracts."

Excerpt from the Harvard Business Review -- "In a 2017 study, Xavier Giroud (of MIT’s Sloan School of Management) and Holger Mueller (of NYU’s Stern School of Business) looked at the relationship between business closures and associated unemployment and falling housing prices in various U.S. counties. Overall, the more housing prices declined, the more consumer demand fell, driving increased business closures and higher unemployment."

Excerpt from the The Nation -- "Under this arrangement, what’s good for the company and the government might not be good for consumers. These misaligned incentives played a role in distorting the for-profit education market. 'If anything,' she said, 'in prisons the potential for misaligned incentives is much more extreme.'"

Excerpt from Inc. -- "Why are companies with single founders more likely to survive? The results suggest one explanation. Revenues at companies with multiple founders are lower than those at companies with a single founder."

Excerpt from Fox Nation -- "I think what [employers] will try and do is change the nature of what people do -- to have them add value in some other way. ... I think stirring a little bit of love in the food is OK sometimes, but other times, it's all right to get it without that human touch."

Excerpt from Curbed -- "'WeWork has created the physical-world equivalent of a digital platform, generating value by imprinting design onto physical space, which leads to network effects at both the individual and institutional levels,' according to Dr. Arun Sundararajan, professor of business at NYU and author of The Sharing Economy, who is quoted in the report."

Excerpt from Ad Age India -- "For brands that are still not sure, here’s what you are missing out on: close to 60% of millennials are discovering products on Pinterest on a regular basis. Pinteresters are people with a mission, with 90% of weekly uses looking at the channel to help them make purchase decisions. These are not just ‘life moment’ shoppers, but ‘everyday’ shoppers. Which means that if your brand is not in the mix, you will soon be booted out of the weekly grocery list!"

Excerpt from WalletHub -- "I dont believe there is very much. But, for me, personally, I much prefer Visa cards. The Mastercards that I have are through Citibank, and I am unsure whether it is something to do with Mastercard, or something to do with the Citibank tie-up, but they are a lot more inconvenient to use, than, for example, the Visa card I have through Capital One. There does not seem to be a system for an automatic cash-back, for one, and, for the other, there seem to be maximums on the amount of cash-back you get per year. They also charge foreign transaction fees that my Capital One Visa does not."

Excerpt from Financial Times -- "Some current and former HBO executives described a 'country club' culture at the network. 'You had lifers who didn’t have any incentive to rock the boat. HBO was a high-margin cash cow business for Time Warner,' says Mr Edis, who is now a professor of new media at NYU’s school of business."

Excerpt from The Wall Street Journal -- "'The more cooks you put into the kitchen, the more likely there is to be disagreement about what ingredients you should use and so forth,' Dr. Greenberg says."

Excerpt from TheStreet -- "'You can change your strategy, your advertising, the money you put into research, but the hardest part is to teach old dogs new tricks,' said Allen Adamson, founder of Metaforce and professor at NYU Stern School of Business."

Excerpt from Bloomberg -- "Together with Gabriele Sabato, previously head of risk appetite decisioning at Royal Bank of Scotland Group Plc, Altman founded London-based Wiserfunding Ltd. to calculate the 12-month default probability for businesses with less than 150 million euros ($168 million) of revenue. Their methods cover 19 European countries and have correctly forecast whether a company would default or stay solvent in about 90 percent of cases, Altman said in a phone interview."

Excerpt from Axios -- "Some Friedman acolytes came to regret core views, since the pursuit of self-interest sometimes led companies, such as Enron, 'to do things that were not in the interest of shareholders,' said Richard Sylla, a professor emeritus at New York University."

Excerpt from Yahoo Finance -- "Markets are always trying to anticipate what's going to happen and they may well be looking a couple of months, a couple of quarters, down the road. There's, I think, a good case to be made [that] this has been due to a number of one-off things. For example, recovering from the government shutdown that was at the end of the last quarter. There's some one-off international trade things. Look, I would love for this strong growth and low inflation and low unemployment all to persist, but I wouldn't want to bet the farm."