Finance

Rutgers ranked in the top 15% in the U.S. in return-on-investment by The Economist

Wednesday, April 16, 2014

Research conducted by The Economist looking at the cost and return of a college education in America showed that Rutgers University–New Brunswick had an annual return-on-investment of 11.2% over a 20-year period. This places Rutgers in the top 15% in the U.S. in return-on-investment out of 896 schools.

TAGS: Accounting Business Analytics and Information Technology Finance Management and Global Business Marketing Return on Investment Supply Chain Management Undergraduate New Brunswick

Building business skills: Rutgers Business School undergraduate students participate in an alternative spring break

Thursday, March 27, 2014

At this time every year, millions of students descend upon spring break destinations to enjoy their time off.  Groups of students will go to warm locations, choose a staycation, or do fun things with friends. The primary goal being relaxation and a bit of respite away from a rigorous academic schedule.

TAGS: Career Development Finance LaToya Battle-Brown Rutgers Business School Supply Chain Management Undergraduate Newark

Since the New York Stock Exchange started in 1792, some people have paid extra to be able to get information before other people

Date: 
Wednesday, March 19, 2014
Location: 
New York, NY

Mark Gorton knows what will happen on the day high-frequency traders’ computers get kicked out of the New York Stock Exchange.

“All you’re going to do is have a data center that’s across the street,” said Gorton, founder of the Lime Wire LLC music-sharing service and managing director of Tower Research Capital LLC, one of the most prolific equity traders in America. “Everyone’s going to want to put their computers there.”

“It’s true that grandma is not putting a computer in the data center to execute her orders,” Gorton said. “But when she routes her orders through a brokerage firm, that firm has an order and now actually the computer at the brokerage firm and the computer of the professional traders are on an exact level playing field.”

The playing field wasn’t always so level, said Dan Weaver, a finance professor at Rutgers University.

“Since the New York Stock Exchange started in 1792, some people have paid extra to be able to get information before other people,” Weaver said during an interview yesterday. “Before NYSE went public and trading was done physically, people paid millions of dollars to have a seat on the NYSE so they’d be co-located next to where all the information was occurring: right on the floor at the posts.”

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TAGS: Daniel Weaver Finance Stock Market

Rutgers Finance and Economics Department continues to build network connecting students with alumni, financial professionals

Thursday, February 27, 2014

A financial alumni networking event hosted by Rutgers Business School’s Department of Finance and Economics on Feb. 25 drew a crowd of nearly 90 people to The Lotos Club on Manhattan’s Upper East Side.

TAGS: Alumni Finance Ivan Brick MBA Networking Rutgers Finance Alumni Network Thought Leadership Undergraduate Newark

Upcoming conference: "Governance Issues of Critical Importance to Institutional Investors in 2014"

Date: 
Thursday, February 27, 2014
Location: 
Newark, DE

The John L. Weinberg Center, University of Delaware, will be hosting its 2014 Corporate Governance Symposium, “Governance Issues of Critical Importance to Institutional Investors in 2014."  The Symposium will begin with a panel of institutional investors and will then continue with the presentation of four academic papers on topics that are of critical importance to institutional investors today.

“Philanthropy, Corporate Culture and Misconduct,” by Frederick Bereskin, University of Delaware, Terry Campbell II, University of Delaware, and Simi Kedia, Department of Finance & Economics, Rutgers Business School; discussant, Michelle Lowry, Penn State University, and visiting professor, the Wharton School, University of Pennsylvania.

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Paper Abstracts

TAGS: Finance Simi Kedia

Wall Street has had its fair share of good, bad and ugly leaders says John Longo, professor, Rutgers Business School

Date: 
Thursday, February 20, 2014
Location: 
Englewood Cliffs, NJ

Like any other sectors, Wall Street has had its fair share of good, bad and ugly leaders. But their influence reaches far beyond the Street, says John Longo, a professor at Rutgers Business School.

Jamie Dimon is currently the top Wall Streeter in the CNBC 25 voting. The often blunt CEO of JPMorgan Chase rose up the ranks of Wall Street and, after being ousted from Citigroup by former CEO Sandy Weill, later went on to the top job at JPMorgan and is credited with leading the bank through the financial crisis relatively unscathed compared to other banks.

Of course, it hasn't been all smooth sailing: Dimon has navigated JPMorgan through the "London whale" trading debacle, a lawsuit over mortgage-backed securities and a lawsuit over the bank's ties with Bernie Madoff.

But, the head of America's biggest bank is still regarded as one of the best executives today, Longo said.

"Whether it's due to coincidence or due to his skill, there's been a tale of two cities between Citi and JP Morgan," he said. Dimon "was forced out of Citi, and Citi was ultimately near bankruptcy while JP Morgan thrived."

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TAGS: Finance John Longo Wall Street

Rutgers Business School advances to Final Four in the New York Local Final of the CFA Institute Research Challenge

Date: 
Tuesday, February 11, 2014
Location: 
New York, NY

The New York Society of Security Analysts (NYSSA) announced the selection of the four finalist teams for the New York Local Final of the CFA Institute Research Challenge. The student teams will present their research to a panel of senior finance experts on February 20, 2014 from 6:00 p.m.--9:00 p.m. at NYSSA Conference Center.

The final four teams for the New York Local Final are:

Rutgers Business School--Newark and New Brunswick, Rutgers University
Team Members: Daniel Dicicco, Eric Lang, Shmuel Libby, Ankith Polavarapu, Andrew Spiro

Seton Hall University, New Jersey Institute of Technology, Fordham University

Each of the four teams will have 20 minutes to convince the panel of the merits of the investment recommendations found in their written reports. The winner will advance to the Americas Regional competition in Denver, Colorado, from March 18--19, 2014.

To reach the finals, these four teams bested students from 18 top area business schools. The field was narrowed down to the Final Four on the basis of written reports and presentations on subject company, Colgate-Palmolive.

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TAGS: Case Competition CFA Institute Finance MBA Undergraduate

Professor Dan Weaver panelist at Brookings event discussing stock trading key policy issues

Date: 
Thursday, January 30, 2014
Location: 
Washington, DC

On January 30, the Economic Studies Program at Brookings held an event to discuss key current policy issues, including dark pools and their operations, payment for order flow, and the rules for ensuring best execution of customer orders. Martin Baily moderated a panel with Gregg E. Berman of the Securities Exchange Commission, Douglas Elliott of Brookings, Chester Spatt of Carnegie Mellon Tepper School of Business, and Daniel G. Weaver of Rutgers Business School, Department of Finance & Economics, to frame the topic.

Listen to Recording

TAGS: Daniel Weaver Finance

"The Financial Benefits of Being Beautiful" The Atlantic cites research study by Ankur Pareek

Date: 
Saturday, January 11, 2014
Location: 
Washington, DC

First impressions are short-cuts, but sometimes our instincts are off. In one study of hedge funds, Ankur Pareek, Department of Finance and Economics, and Roy Zuckerman found that managers that looked more trustworthy attracted more funds, but there was "no evidence that perceived trustworthiness predicts actual manager skill." In fact, the trusty-seeming managers generated worse returns.

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TAGS: Ankur Pareek Finance

"Investing in hedge funds makes sense now," said John Longo, professor of finance and economics

Date: 
Monday, December 30, 2013
Location: 
Boston, MA

Hedge fund firm Gottex Fund Management is readying a new mutual fund that will let retail clients sample asset classes normally reserved for millionaires, like hedge funds, private equity and real estate.

"It is certainly an attractive pitch to get access to what millionaires can access for much less," said John Longo, a professor of finance and economics at Rutgers Business School, and chief investment officer of wealth advisor MDE Group.

"Investing in hedge funds makes sense now," he added. "But it is also important to compare prices."

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TAGS: Finance John Longo

The ETF professor: Nasdaq director takes indexing to the classroom

Date: 
Tuesday, November 26, 2013
Location: 
Piscataway

When Nasdaq OMX Global Indexes director David Krein was a business school student in the late 1990s, the term "exchange-traded fund" was little known to most of Wall Street, let alone a university classroom.

Now, Krein, who heads index research at Nasdaq, is teaching what he and his industry colleagues are calling a first-of-its-kind MBA course focused exclusively on indexing and ETFs - securities that often track an index or a basket of shares and can be traded in real time like stocks.

The course is a testament to the growing importance of the $2.2 trillion global market in ETFs, which has soared roughly 140-fold since 1998, when it was only $16 billion in size.

"Universities are starting to see a need to train their students to function in a world where ETFs are a key part of the investment process," said Scott Kubie, chief investment strategist at Omaha-based CLS Investments, LLC, which designs ETF portfolios.

Kubie, who himself used to teach portfolio management and securities analysis courses at the undergraduate and MBA level, said most core university investment courses are focused on securities analysis of individual stocks or other derivatives. These courses may dedicate only a lecture or two to ETFs rather than an entire semester.

"I haven't heard of anything like it," said Kubie, referring to Krein's course, which is in its first semester at Rutgers Business School in Piscataway, New Jersey.

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TAGS: Finance John Longo Master of Quantitative Finance MBA NASDAQ New Brunswick

Rutgers Executive MBA moves into top tier of Bloomberg Businessweek world rankings

Friday, November 22, 2013

Rutgers EMBA program ranks #26 in the world in survey, receives high teaching-quality grades in Finance, Strategy and Sustainability as well as for Curriculum and Support

TAGS: Executive MBA Finance Rankings Strategy Sustainability Teaching Excellence

Rutgers finance professor's new book provides hard-to-find framework for short-selling

Monday, November 18, 2013

Amit Kumar, an adjunct professor of finance at Rutgers Business School, has written a book delving into the intriguing and complicated practice of short selling.

TAGS: Books Finance Investing Tips Thought Leadership Wall Street

"Short Stories from the Stock Market," a New Book by Amit Kumar, Offers Insights into the Controversial Strategy of Short Selling

Date: 
Friday, October 18, 2013
Location: 
Secaucus, NJ

Short Stories from the Stock Market uses case studies to illustrate the short selling framework in practice. It draws upon examples from past research by Artham Capital Partners as well as research contributed by Off Wall Street, a short-focused independent research firm, based in Cambridge, MA, with a strong track record that spans two decades. The book illustrates how successful short investment theses are not based on the premise of high valuations, but rather on the problems with a company’s business model and its accounting practices. While buying low and selling high usually works for long ideas, short selling expensive stocks based on high valuation alone usually does not work as well.

Marc Faber, author and publisher of The Gloom Bloom Doom Report, famous for his contrarian approach to investing, said of the book, "Mr. Kumar’s book is an excellent introduction into the controversial strategy of selling short stocks of companies whose fundamentals are likely to deteriorate."

“Amit’s book took me into the mind of a short seller", said Guy Spier, CEO of Aquamarine Capital.

Amit Kumar started Artham Capital Partners LLC, an independent research firm, in 2009, after working as a buy-side analyst at Swiss Re. He is also an adjunct professor of Finance at Rutgers Business School and NJIT School of Management.

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TAGS: Finance Stock Market

RBS holding consecutive ceremonies to dedicate 100 Rock and install Professor Vikram Nanda as inaugural Albert R. Gamper Jr. Chair in Business

Date: 
Wednesday, October 16, 2013
Location: 
Piscataway, N.J.

Rutgers Business School will formally dedicate its new building on the Livingston Campus on Friday, Oct. 25, following the investiture of Professor Vikram Nanda as the inaugural Albert R. Gamper Jr. Chair in Business.

"Our new building at 100 Rockafeller Road provides, for the first time in decades, the facilities to meet the demand for business education at Rutgers in New Brunswick," Rutgers Business School Dean Glenn Shafer said. "The building will help us attract the most committed and qualified students at all levels and to retain and attract outstanding faculty and staff to work with them."

As Albert R. Gamper Jr. Chair in Business, Professor Vikram Nanda will focus his research on financial institutions, teach corporate finance, and guide PhD students and junior faculty members.

Nanda said he was honored to be chosen as the first recipient of the Gamper Chair. "The finance and economics department at Rutgers has some significant strengths," Nanda said. "My objective is to help the department build on these strengths and to enhance its reputation as a strong research and teaching group."

Albert Gamper, who retired as chairman and CEO of CIT Group in 2004, will be among the guests attending the investiture ceremony. CIT Group and Gamper, who currently sits on the Rutgers Board of Trustees, announced the establishment of the $2 million chair in 2004. In 1999, Gamper was inducted into the Rutgers Hall of Distinguished Alumni.

 

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TAGS: 100 Rock Finance Undergraduate New Brunswick Vikram Nanda

John Longo in ThinkAdvisor on Keeping Clients Engaged

Date: 
Friday, September 27, 2013
Location: 
New York, NY

Behavioral finance has established that even the strongest and most dedicated of investors are prone to panic when markets get rough. As such, one of the greatest challenges financial advisors face is trying to keep their clients engaged in markets at all times.

That’s why advisors need to have at the ready a number of airtight investment strategies designed to keep their clients engaged while providing them with the peace of mind they need to actually stay engaged, according to John Longo, CIO at Acertus Capital Management and a finance professor at Rutgers in New Jersey.

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TAGS: Finance John Longo

Dan Palmon on Lessons for Business Schools after the Financial Crisis

Date: 
Tuesday, September 24, 2013
Location: 
New York, NY

Five years after Lehman Bros. imploded, business schools have modified curricula to educate students on how to try to keep the financial crisis from happening again. Faculty are hoping that future auditors will help protect society from market meltdowns like the one in 2008 by protecting against abuse.

"We all want to make sure that it doesn't happen again," said Dan Palmon, chair of the accounting department at Rutgers Business School in New Jersey.

Read full article.

TAGS: Dan Palmon Finance

National Science Foundation supports professor's research on quantifying risk with $240,000 grant

Thursday, September 19, 2013

The National Science Foundation recently awarded Rutgers Business School Professor Andrzej Ruszczynski a $240,000 grant for his research on a complex mathematical model for projecting risk in a variety of decision-making processes.

TAGS: Andrzej Ruszczynski Finance Grants Management Science and Information Systems Research Risk Management

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