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  • – Faculty News

    Prof. Aswath Damodaran discusses stock buybacks

    October 8, 2014
    marketplace radio logo feature
    Excerpt from Marketplace -- "When [Damodaran] looks at the biggest companies buying back the most stock—companies like Microsoft, Hewlett Packard, IBM—he sees a pattern. 'I mean you look at that list,' he says, 'and every single one of them, you look at the last decade, have a history of destroying value— of investing in things where they have nothing to show for it 5 years out, 10 years out.  I look at that list, and I say: Thank God for buybacks.'"
  • cnbc logo feature
    Excerpt from CNBC -- "'It's like water,' said Marti G. Subrahmanyam, professor at NYU's Stern School of Business, said. 'So long the floodgates have been kept closed and water could not flow from China to Hong Kong. They are slightly opening the floodgates.'"
  • The New York Times
    Excerpt from The New York Times -- "'They are concentrated in the hardest part of the business,' said Roy C. Smith, a former partner at Goldman who is now a historian of the financial industry at New York University. 'In terms of the modern life of the place, this is the most difficult ordeal to manage its way through that the firm has ever faced.'"
  • bloomberg logo feature
    Excerpt from Bloomberg -- "Critics such as Roy Smith, a professor at New York University’s Stern School of Business, say prosecutors were driven by 'political fever' to extract massive penalties from Wall Street. 'They have to deliver something, so they come up with this,” said Smith, a former Goldman Sachs Group Inc. (GS) partner. 'The fact that it’s unfair never really gets considered. The banks have no choice but to hunker down and accept it.'"
  • bloomberg logo feature
    Excerpt from Bloomberg -- "The best thing about the American economy is that it is structurally flexible, so the private sector is actually adjusting pretty fast. But we need very heavy investment infrastructure, education, skills, and other things to try to bring the lower half of distribution up."
  • wall street journal logo feature
    Excerpt from The Wall Street Journal -- "Iconic, charismatic leaders can excite investors, and boost innovation during their tenures. But the 'great man' approach can lead to stymied growth or worse, once the guy heads for the door, said Karen Brenner a professor at New York University Stern School of Business. 'You never want to let it get to a point that the company’s leader is seen as its core operational strength,' Prof. Brenner said."
  • fox news
    Excerpt from Fox News -- "Alvin Lieberman, a marketing professor at NYU and director of the school’s entertainment, media, and technology program, sees fierce competition for The Players’ Tribune. 'Jeter has to fight among the 200-plus cable channels and the many thousands of social networks,' he told FoxNews.com. 'Will he make an impression? Yes. The question is, how long will it last?'"
  • new york times logo feature
    Excerpt from The New York Times -- "Indeed, scholars find that some of the most elemental differences between liberals and conservatives occur on the moral plane. In his now famous research, New York University’s Jonathan Haidt interviewed hundreds of people and surveyed tens of thousands more about their moral biases. He told outlandish stories (one involved a family eating its dog) and gauged his subjects’ immediate moral reactions. The differences were stark."
  • politico logo feature
    Excerpt from Politico -- "An Internet roundtable was held focusing on the economics of the issue, and Chairman Tom Wheeler put forth an interesting question: 'Is there difference between prioritization and paid prioritization? Does the exchange for value change the economics?' he inquired in front of a panel of economists. It’s unclear if they got to the bottom of it, but Nicholas Economides, an NYU professor and executive director of the NET Institute, gave this answer: The ISPs have to prioritize their networks to run smoothly, he explained. 'The payment is the crucial thing because the payment can create disincentives that I think are perverse from the point of view of the public interest, but they are perfectly natural from the business point of view. From the business point of view, it makes perfect sense to create artificial scarcity and make more money.'"
  • pbs newshour logo feature
    Excerpt from PBS NewsHour -- "Uber’s creating a platform that’s replicating the traditional model of taxi, just doing it far more efficiently."
  • fox news
    Excerpt from MyFoxNY -- "There's a lot of good that's come out of the 1999-2000 dot com bust. Ecommerce is what it is today because of what we have learned from the mistakes in the past. There is collateral damage. Sure, investors lost, but society benefited."

  • bloomberg logo feature
    Excerpt from Bloomberg -- "Yesterday’s gap was $9.23 billion, according to data compiled by Bloomberg. The shortfall reflects an estimate by Damodaran, the author of four books on company valuation, that Yahoo has $8.02 billion in cash. The discount is a sign of 'investor concerns, merited or not, that Yahoo’s management might do something senseless with the cash,' he wrote two days ago in a posting on his Musings on Markets blog."
  • greek reporter logo
    Excerpt from Greek Reporter -- "The strategy that leads Greece quickly and with certainty to growth and reduction of unemployment is simple. Greece borrows €5bil per year issuing new bonds and uses all the moneys in public investments. Greece does not put a single euro from these moneys in the general budget, and the money is not wasted to 'pay' the IMF, which would send inspectors to Greece even if it extends no further loans. With some attention and care, Greece can reach a 3-5% growth in 2015 and higher in 2016. And by the end of 2016, this growth would result in 600,000 new work positions."
  • pbs newshour logo feature
    Excerpt from PBS NewsHour -- "Occupy Central has now become Occupy Hong Kong. As of tomorrow it’s likely to become Occupy larger than that. And if the — if local police, through threat and selective arrests, are unable to disperse these demonstrations, we’re likely to see a very significant violent crackdown."
  • bloomberg logo feature
    Excerpt from Bloomberg -- "'It’s six years after the crisis and they are still facing continued litigation, so if you were in that foxhole wouldn’t you do something?' said Roy Smith, a finance professor at New York University’s Stern School of Business and a former Goldman Sachs partner. 'You protect yourself by causing these restrictions.'"
  • project syndicate logo feature
    Excerpt from Project Syndicate -- "Global markets have not reacted for several reasons. For starters, central banks in advanced economies (the United States, the eurozone, the United Kingdom, and Japan) are holding policy rates near zero, and long-term interest rates have been kept low. This is boosting the prices of other risky assets such as equities and credit."
  • bloomberg logo feature
    Excerpt from Bloomberg -- "[PayPal] has been the crown jewel. This is what CEOs like. They like to be diversified with a number of assets in case one property underperforms, but here's the deal. Investors don't need CEOs to diversify for them. They can diversify on their own. They need to be accountable for one business with one core mission and one core brand and let the best assets go out on the marketplace and get the shareholder return they deserve. The biggest winners here are Icahn because he's going to do a victory lap, and not only that, the people who work specifically on PayPal who will now get options on PayPal stock."
  • cnc world logo feature
    Excerpt from CNC World -- "Tim Cook is gonna have a good legacy, I may even say great legacy. In the sense that a lot what we are seeing is still inventions during Steve Jobs' presence... technology takes a while for products to come out, so what we are seeing are possibly a lot of influences from Steve Jobs, but I wouldn't take credit away from someone like Tim Cook, I'm pretty positive that he will have an amazing legacy as well, especially with wearable technology."
  • marketplace radio logo feature
    Excerpt from Marketplace -- "'Anything that starts to erode or challenge the 90-day window could be disaster for them,' says Sam Craig, director of the Entertainment, Media and Technology program at NYU. According to Craig, if just 10 percent of theatergoers stayed home, it would mean a loss of more than a billion dollars in ticket sales."
  • bloomberg logo feature
    Excerpt from Bloomberg -- "'The incentive to manipulate is always going to be there: what we have to make sure is the ability to actually do it is reduced,' Rosa Abrantes-Metz, a professor at New York University’s Stern School of Business, said in a telephone interview. The FSB report 'talks about many things, such as no sharing of information among traders beyond what is necessary, but that should have been in place for a long time.'"
  • – Faculty News

    Research coauthored by Prof. Joe Magee is featured

    September 30, 2014
    fast company logo feature
    Excerpt from Fast Company -- "Researchers found the teams where the bosses were asked to take the perspective of their employees did a better job of sharing information and making decisions than their counterparts."
  • – Faculty News

    Prof. JP Eggers discusses the evolution of tech companies

    September 30, 2014
    bloomberg logo feature
    Excerpt from Bloomberg -- "The cycle certainly seems to be faster. The pattern is still relative to what we see in other industries. The challenge is that, in many industries, the dynamics just don't move as fast. Things don't replace new technologies, steel and airlines and things like that, as often, whereas in the tech world, the life cycles are much more compressed. But the same basic pattern shows up whether we look at manufacturing or retail or technology."
  • financial times logo feature
    Excerpt from Financial Times -- "That significant parts of the global financial system are running on dollars is no surprise. We discussed some of the basics – the fact that the dollar accounts for 80% of trade finance and 87% of foreign currency market transactions – in an earlier post on the reserve currencies. But there is more, much more. The fact of the matter is that there is a parallel dollar-based financial system – call it the 'Global Dollar system' – that operates outside the United States."
  • citylab logo
    Excerpt from CityLab -- "Cities can invest in 'invisible infrastructure,' said Arun Sundararajan, professor of information sciences at New York University, 'without having to spend on steel and concrete.'"
  • huffington post logo feature
    Excerpt from The Huffington Post -- "For investing in college, the analysis is complicated by the fact that you need to compute the difference between expected income with and without going to college. People have done that, and the answer is that the payoff usually remains quite attractive, but it depends on where and what you study, and whether you complete your degree."


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Phone: 212-998-0670
Fax: 212-995-4950
Email: paffairs@stern.nyu.edu

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(212) 998-0995; jhvala@stern.nyu.edu

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(416) 516-7677; jneville@stern.nyu.edu

Rika Nazem, Director
(212) 998-0678; rnazem@stern.nyu.edu

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(212) 998-0624; critter@stern.nyu.edu

Anna Christensen, Associate Director
(212) 998-0561; achriste@stern.nyu.edu

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