Experience Stern | News & Events

Excerpt from the Chicago Tribune -- "'Consumers who participate in the sharing economy just have to come to terms with the idea that this isn't like getting a service from a large, branded company,' explained Sundararajan. 'The responsibility for providing the service is split between the platform (e.g., Turo or Airbnb) and the provider (the individual renting out the product), and people need to get comfortable with who's responsible for what.'"

Excerpt from CFO -- "'It’s extremely important for investors to understand where topline growth comes from,' he said. 'Foreign exchange is mainly beyond managers’ control. Volume is clearly under managers’ control. Price effects are generally long-term, while M&A is frequently transitory. Some companies provide a partial breakdown of these effects, but there’s nothing secret about this information.'"

Excerpt from Glamour -- "Mrs. Obama was pretty uniquely adept at mixing items from the Gap with higher-priced couture to appeal to everyone from millennials to middle-class moms. Consumers could imagine themselves in her clothes, which is harder to do with actresses you see on the red carpet…. she also changed designers frequently and had absolutely no favoritism with what she might wear on a given day."

Excerpt from CNBC -- "'It's basically young people saying they have no faith in our institutions,' Galloway told CNBC's 'Squawk Alley' Tuesday. 'As we lose faith in institutions, it goes up.'"

Excerpt from Bankrate -- "When you use plastic, you’re liable to spend more than when you just fork over cash. One study by Priya Raghubir and Joydeep Srivastava, published in the Journal of Experimental Psychology: Applied, found that participants spent 21 percent more preparing a Thanksgiving dinner when they used a credit card ($175) compared to cash ($145)."

Excerpt from Bloomberg View -- "Our empirical findings support the hypotheses, showing that ambiguity significantly affects stock market returns. That is to say, investors act as if they consider the degree of ambiguity when they price financial assets. The findings provide strong evidence that individuals exhibit ambiguity aversion to favorable returns and love for ambiguity for unfavorable returns."

Excerpt from Global Finance -- "The financial case for sustainability is the high correlation between good environmental and social governance performance in a company and good stock performance, lower cost of capital and better operational performance. We don’t really know why, because companies are not tracking the ROI on their sustainability investments; although they do track operational efficiencies like energy savings."

Excerpt from The Wall Street Journal -- "Mr. Brenner, a early pioneer of volatility research whose work was profiled in The Wall Street Journal in March, and Mr. Izhakian are turning the concept into a gauge of current market conditions that they hope will be useful for market watchers. They came up with the measure by analyzing market returns in five-minute increments. Their research is due to be published in the Journal of Financial Economics."

Excerpt from the Golf Channel -- "If we take an amateur golfer who plays five rounds of golf a week over a two year period, the chance of getting sixty holes in one is less than one out of one trillion to the tenth power. He has a better chance of getting twenty straight royal flushes if he plays poker. It is basically impossible."

Excerpt from Mother Jones -- “There’s probably a strong case to be made that we are chemically addicted to fake news,” says Amy Webb, an author and futurist who founded the Future Today Institute. “When you’re seeing your angers and fears and anxieties being validated externally, you get a shot of dopamine.”

Excerpt from The Bridge -- "Train employees to speak up in the moment: 'Many employees are intimidated by power and will be unwilling to give feedback to someone who has offended them,' says Stehlik. However, 'if you can stop these behaviors at the first step, you will be much better off.'"

Excerpt from the International Business Times -- "'At the moment there’s a buying frenzy because people expect it to go up,' Dhar told IBT. 'When the futures are on track and professionals start trading it, several years after that maybe we’ll have enough data to come up with machine-learning based strategies...right now all we’ve seen is one little period where it’s moonshot. There’s no real basis for building a strategy.'"

Excerpt from BusinessBecause -- "'FinTech is one of the fastest growing segments of the economy. Five financial functions are being disrupted—payments, how money is transferred, markets, insurance and capital allocation,' NYU Stern clinical associate professor of finance Kathleen DeRose explains. ... 'Jobs started to change at the big banks, which became increasingly interested in people graduating with skills in big data,' [Yermack] explains. 'AI and machine learning are changing the profile of finance jobs and the nature of work, [which] will increasingly focus on programming these machines and pointing them to the right data, and working on hardware and software updates.'"

Excerpt from Luxury Daily -- "The best way to remain ahead of the curve is to look outside one's industry. For example, a fashion company should be studying what is happening in product design or architecture. This will impact not just the form of the new collection but possibly its structure and perhaps even its production process. Innovation stems from interdisciplinary thinking, not from a singular one."

Excerpt from Forbes -- "Driverless cities and increased e-commerce will include more delivery trucks, pedestrian walkways, bicycles, amphibious planes, helicopter taxis, drones, more time for mobile usage in autos, and potentially more time socializing in more shared, carpool vehicles."

Excerpt from Entrepreneur -- "Talking about the immediate reforms needed in the system, Ghose said, 'We need to encourage skills in design thinking, creative thinking, unstructured project management, and the ability to adapt and drive in changing environments.'"

Excerpt from ValueWalk -- "In a new article in Financial Analysts Journal, Lev and co-author Feng Gu continue to advance the findings on intangibles. The article, 'Time to Change Your Investment Model,' identifies that earnings prediction has lost 'much of its relevance in recent years.' As a form of predicting corporate results, 'earnings no longer reliably reflect changes in corporate value and are thus an inadequate driver of investment analysis.'"

Excerpt from The Washington Post -- "'The same forces that are making it more pricey as a business are the same forces that will make more people get interested,' Damodaran said."

Excerpt from CNNMoney -- "'Almost every industry in the United States has become more concentrated over time. That's for sure,' said Thomas Philippon, professor of finance at New York University. 'All this consolidation has led to less competition, and higher costs for consumers.'"

Excerpt from Inc. -- "'The move to build a new headquarters [has] significant implications for the local economy of whatever city it winds up picking,' explains Ari Ginsberg, a professor of entrepreneurship and management at New York University's Stern School of Business, who researches business expansion."

Excerpt from Quartz -- "Once viewers learn that videos can be computer generated, this technology could essentially undermine the credibility of all audio and video recordings. This may lead viewers to conclude that anything they read, hear, or see online could be fake. Ultimately, this lack of trust in facts could further erode democracy. 'It’s hard not to see a dystopian future,' says Webb. 'We all need to slow down for five minutes and think this through.'"

Excerpt from the Harvard Business Review -- "We’ve seen a sea change in the last 10 years around company and NGO engagement — it’s far more cooperative. I think the elements of a successful partnership are: first, that both parties have aligned goals, expectations, and parameters; second, they design a way to have a common language that respects their different perspectives; and third, the company invests the time and resources required to make the relationship productive, including a dedicated and empowered corporate point person for the NGO. The result will be innovation."

Excerpt from Bloomberg -- "'Machines will be doing more of the grunt work of discovering opportunities,' said Vasant Dhar, who 20 years ago founded one of the first machine-learning hedge funds, the $350 million Adaptive Quant Trading program at SCT Capital Management. 'They can generate hypotheses, test them, and then tell humans, "This is interesting, go dig deeper." As machines add more value, it changes the nature of work humans do.'"

Excerpt from the Associated Press -- "My sense is that consumers won't benefit all that much from this deal and if anything there will be less choice in the market for consumers looking to purchase both medical coverage and pharmaceutical coverage because once you have both, as CVS will have now, there may be the ability for them to exert power over those corporations with which they are negotiating both pharmacy and medical packages."
 

Excerpt from Bloomberg -- "We now have an Amazon singularity in the markets where all consumer stocks are moving corresponding to what Amazon is or isn't doing. I think one of the components of robust markets is that no one company has too much control..."