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Finance & Economics Department

Rutgers Business School faculty from the Finance & Economics department whose expertise appeared in the media.

BNN Bloomberg

BNN Bloomberg

December 17, 2023

BNN Bloomberg, Assessing the Pandemic Impact on Women in Finance, Lisa S. Kaplowitz

On this episode of "Bloomberg Equality," Lisa Kaplowitz, finance professor at Rutgers University and the co-founder and executive director of the Rutgers Center for Women in Business, looks at how the coronavirus pandemic is affecting women in the financial-services industry. She speaks with Bloomberg's Haidi Stroud-Watts and Shery Ahn.

The Economist

The Economist

December 14, 2023

The Economist, Why stockpickers should get out more, Azi Ben-Rephael

Financial analysts, like journalists, split their time between deskwork and roadwork: meeting executives, inspecting operations, tasting the local cuisine. Are these escapes into the outside world worth it?

In a new paper Azi Ben-Rephael of Rutgers University, Bruce Carlin of Rice University, Zhi Da of the University of Notre Dame and Ryan Israelsen of Michigan State University investigate the benefits of travel. They track 336 analysts of American stocks from 2017 to 2021, estimating the length of their office days from the time they spent logged in to their Bloomberg terminals. Analysts who did not log in during a workday were assumed to be traveling for work.

Logging off and getting out has some costs: peripatetic analysts issued fewer forecasts. But their stock recommendations made more of a splash, moving the market by more than their peers’ picks. They were also more likely to be rated as “star” analysts in the rankings published by Institutional Investor, a magazine.

Was this prestige deserved? Escaping from the office does, after all, give a stockpicker more time to schmooze with the institutional investors who contribute to rankings. And it fills their sleeves with more seductive tales to tell.

On the other hand, the paper shows that the forecasts of well-traveled analysts were also significantly more accurate than those of their peers.

NorthJersey.com

NorthJersey.com

December 6, 2023

NorthJersey.com, Why is everyone asking for tips? How tipping culture in America is changing, Parul Jain

Parul Jain, who teaches finance and economics at Rutgers Business School, said tipping got a huge boost during the COVID-19 pandemic.

People used to tip on the basis of performance, she said. Now, the near ubiquitous use of touch screens at places where we'd never previously think of tipping applies enormous pressure.

"You feel guilt or misery," Jain said, adding that during COVID when many eateries were struggling, it was not uncommon to tip 30%.

MoneyGeek

November 29, 2023

MoneyGeek, Best Business Transfer Credit Cards in 2023, John Longo

In its questions to experts, MoneyGeek asked, Are there any drawbacks that businesses should be aware of when using balance transfer cards? "Businesses should keep meticulous records, so the owner(s) should look at the monthly and year-end reporting features of balance transfer cards and seek low-interest rates and attractive rewards programs," said John Longo, a distinguished professor of professional practice in finance at Rutgers Business School.

The New York Times

The New York Times

November 17, 2023

The New York Times, After a Landmark Verdict, Realtors Ask, ‘What’s Next?’, Morris A. Davis

A single verdict, however, is not the last word on any issue, particularly in an industry as vast and profitable as real estate. “Somebody will overturn this, and it will go away,” said Morris A. Davis, the academic director of the Center for Real Estate at Rutgers Business School.

Seventy-five years of public policy coupled with a powerful real estate lobby have created an entrenched marketplace resistant to significant reforms, he said: “I just don’t see a world in which we’re willing to blow that up.”

Yale News

Yale News

October 30, 2023

Yale News, Yale endowment performance on par with peers in slow year for university investment returns, John Longo

But John Longo, the former chief investment officer of Beacon Trust and a professor at Rutgers Business School, told the News that the 60-40 model is not an appropriate benchmark to judge the performance of Yale’s endowment.

He noted that Yale’s peers all follow an alternative investment model, too.

“Performance over a one-year period is not meaningful for an institution like Yale which has a very long-term horizon,” he told the News. “Despite the somewhat disappointing short-term returns, in my opinion, Yale’s approach to managing its investment remains sound.”

GoBankingRates.com

GoBankingRates.com

October 29, 2023

GoBankingRates.com, 6 Ways It’s Easier To Get Rich Now Than It Was 100 Years Ago, John Longo

Index funds are another newer way to build wealth — one that’s easier to get started with than it was in the 20th century.

“The index fund is undoubtedly one of the most important financial innovations in the past 100 years. Vanguard created the first index fund for individual investors in 1976, but its growth has dramatically accelerated since the early 2000s,” said John Longo, PhD, CFA, Beacon Trust’s chief investment officer and Rutgers distinguished professor of professional practice in finance and economics. “An investment in an index fund requires minimal time and effort, charges an exceptionally low fee and outperforms roughly 90% of active managers over the long run.”

Real Estate NJ

Real Estate NJ

October 23, 2023

Real Estate NJ, Rutgers Center for Real Estate adds Dynamic Engineering as corporate sponsor, Morris A. Davis

“Dynamic Engineering is a firm focused on helping to ensure that students studying real estate are prepared to join the workforce,” said Morris A. Davis, the Paul V. Profeta chair of real estate and academic director for the Rutgers Center for Real Estate. “We are gratified to be cooperating with such a committed firm and look forward to this engagement and the benefits to our students.”

The Harvard Crimson

The Harvard Crimson

October 12, 2023

The Harvard Crimson, Harvard’s Endowment Could Deliver Poor Returns for the Second Year in a Row, John Longo

Some portions of Harvard’s endowment may still deliver strong performances. According to Rutgers Business School professor John M. Longo, HMC’s stock portfolio — which is heavily invested in technology companies — could boost its fiscal year 2023 returns.

“US stock market performance has largely been driven by a small group of large cap Technology oriented securities,” Longo wrote. “Harvard Management Company held three of these stocks (Meta, Alphabet, and NVIDIA) among its top 10 equity positions, so the equity segment of the HMC portfolio likely performed well this calendar year.”

ROI-NJ

ROI-NJ

October 10, 2023

ROI-NJ, Why Nobel Prize in economics could have big impact on wage gap for women, Lisa S. Kaplowitz

As a professor who teaches finance and economics and a former investment banker and chief financial officer at some of the top firms in the world, you can be sure that Lisa Kaplowitz cheered the announcement that Claudia Goldin was the third woman to earn the Nobel Prize in economics — the first to do so as a solo winner.

And, as the co-founder and executive director of the Rutgers Center for Women in Business, you can be sure Kaplowitz is pleased that Goldin’s pioneering research on identifying drivers of gender differences in the labor market will bring more attention to the issue.

Kaplowitz’s biggest hope, however, is that the next generation won’t need such distinctions — or the research.

“I’m really looking forward to a time when her research is realized and we’re not talking about the fact that so-and-so is the first, because that means we have created pay equity, we have created equal representation and the biases have been removed from the system,” Kaplowitz said.

The Daily Targum

The Daily Targum

September 25, 2023

The Daily Targum, Members of U. community react to recent changes in IPO market, Lisa S. Kaplowitz

Lisa Kaplowitz, an associate professor in the Department of Finance and Economics at Rutgers Business School and executive director at the Rutgers Center for Women in Business (CWIB), said that a company goes public for two primary reasons: to access more money to expand its business and to provide private investors the opportunity to monetize their investments.

The post-pandemic IPO market had stayed dormant due to a lack of investor optimism, but companies have recently gained confidence in their ability to raise capital as the Federal Reserve slows down on interest rate hikes and inflation concerns subside, she said.

ROI-NJ

ROI-NJ

September 20, 2023

ROI-NJ, Rutgers report: Too much required parking at multifamily sites is bad for rents — and environment, Morris A. Davis

A new White Paper from the Rutgers Center for Real Estate focused on parking in multifamily residential communities spells this out. (Click here to read the paper.)

The result of several months of examination after analyzing data obtained from over 175 properties and approximately 28,000 operating multifamily rental units in the state, the report concludes that mandatory rules required by the Residential Site Improvement Standards are outdated — and that they may not reflect a society that relies on ride-sharing and/or mass transit more than ever.

The report, entitled “How Much Is Enough? Parking Usage in New Jersey Rental Units,” showed that, on average, low and midrise apartment buildings in New Jersey utilize approximately 0.56 parking spaces less than as required by RSIS, with high-rise communities utilizing approximately 0.32 parking spaces less than as required by RSIS.

Deb Tantleff, the founding principal of TANTUM Real Estate and one of the authors of the paper, said the results of the objective research provide conclusive and compelling data that can and should be utilized by both the public and private sector.

“A thoughtful and intentional approach to reduce parking requirements will benefit municipalities, planners, developers/operators and, importantly, the end user while creating a pathway to address larger affordability challenges that we face as a state and country,” she said.

Tantleff prepared the paper along with Morris Davis (the head of the Rutgers Center for Real Estate), Ron Ladell (the head of AvalonBay in New Jersey) and Facundo Luna (a Ph.D. student at Rutgers University).

Money Geek

Money Geek

August 30, 2023

Money Geek, Best 0% APR Credit Cards in 2023, John Longo

Could making a large purchase on a 0% APR card affect one’s credit score?

A large purchase may negatively impact your credit score since one of the components of the credit score is the percentage of credit utilized. You should also analyze the purpose of the 0% purchase. If the purchase is purely for consumption purposes, it may be unnecessary. However, if the purchase helps fund a business or other investment, perhaps it will be worthwhile. Clearly, once the 0% "teaser" rate expires, it is crucial to repay the debt in full since future interest rates will often snowball to a rate in the high teens or 20%+.

Money Geek

Money Geek

August 30, 2023

Money Geek, Best First Credit Cards for No Credit in 2023, John Longo

Are there any benefits of getting a credit card while still in college?

Getting a credit card at nearly any age — late teens and above — can help you build up a positive credit rating if the card is used responsibly. It may also earn the owner rewards points that may provide discounts on purchases or cash back. However, if you are unable to pay the credit card balance in full each month, you are probably better off sticking with a debit card.

Money Geek

Money Geek

August 30, 2023

Money Geek, Guide to Money Management and Investing During a Recession, John Longo

What is some advice you would give to people for managing their money during a recession?

Currently, money market funds, CDs, and Treasury Bills are offering attractive (e.g., 5%+) yields. These investments may make sense for a portion of the "safe" part of one's portfolio. I'd be surprised to see 5%+ rates on these instruments a year from today. Over many months, investing in stock index funds on a dollar-cost-averaging basis has historically been a good investment for the "risky" part of one's portfolio. Descriptions of the "American Dream" usually consist of owning your own home. So, saving money for a down payment on a new home or accelerating payments on an existing home may make sense as part of an overall financial plan.

The Center Square

The Center Square

August 15, 2023

The Center Square, Report; Anchorage has lowest drop in CPI among ranked cities, Morris A. Davis

Morris A. Davis, professor and Paul V. Profeta Chair in Real Estate and the academic director of the Center for Real Estate Studies at Rutgers Business School, said certain factors will drive down inflation.

"Hopefully, the Russia-Ukraine war will be over soon and the COVID pandemic is essentially over so the impact of supply disruptions on inflation should go away soon," Davis said. "Additionally, the Fed is trying to reduce demand for goods and services by raising interest rates. The key is to get the core inflation rate to 2 percent."

The inflation rate doesn't tell the entire story behind the U.S. economy, Davis said.

"I think the thing we should all be worried about is the debt ceiling," Davis said. "If the U.S. government defaults on a debt payment, chaos will ensue in financial markets, a major recession or worse will follow, and the dollar may massively revalue."

MSNBC

MSNBC

August 10, 2023

MSNBC, Sorry, Trump: Women's soccer flourished because of equal rights, Lisa S. Kaplowitz

And according to a Rutgers Business School analysis, it is because of Title IX that today, three million more high school girls and 200,000 more college women have access to athletic pursuits.

Reuters

Reuters

August 10, 2023

Reuters, Bulging warehouses mean lean times for longer for US, European companies, Parul Jain

Parul Jain, finance and economics professor at Rutgers University, reckons the problem might have got worse in the United States, not better.

The U.S. inventory-to-sales ratio was 1.4 in May, up from 1.33 a year ago, which means retailers, manufacturers and wholesalers have more inventory than they can sell at a higher rate than a year ago, she said.

Promarket

Promarket

August 4, 2023

Promarket, Reaching for Influence: Do Banks Use Loans to Establish Political Connections?, By Hosein Maleki, Mahsa Kaviani, and Pavel Savor

A new study examines whether privately owned banks seek political influence by offering preferred loan terms to corporate borrowers with valuable political connections, showing that such connections do indeed lead to lower interest rates on new loans.

MoneyGeek

August 1, 2023

MoneyGeek, Best Secured Credit Cards in August 2023, John Longo

Among the questions MoneyGeek asked a group of experts was this one, What are some of the main benefits of having a secured credit card? Would you consider it worth it for most people? John Longo, a distinguished professor or professional practice in finance at Rutgers Business School offered this information as part of his advice in the piece: "A secured credit card is backed by cash, so there is a significantly reduced chance of default. Therefore, a secured card enables you to build up your credit rating in most instances. If someone has had problems in the past with paying off the balance in full on a traditional credit card, then a secured card may be a good option. Consumers should try hard to pay off their balance in full each month with any type of credit card since the interest rate on remaining balances is likely to exceed the returns on other uses of the funds.

WalletHub

WalletHub

July 31, 2023

WalletHub, 5 Best Same-Day Loans of September 2023, Ben Sopranzetti

What advice do you have for people looking for a same-day loan?

Same-day loans can be a quick source of emergency funds for people who are in urgent need of cash, but they can be extremely expensive (APRs can be several hundred percent for payday loans) and come with nasty non-payment penalties. Same-day loans often come with high origination fees that include both a fixed charge and a percentage of the loan amount in addition to the high-interest rate. Many have prepayment penalties and expensive rollover costs (if you have to roll it over because you cannot pay it off by the due date).

The best advice that I can give to someone considering these loans is to read the fine print and only borrow from a licensed lender.

WalletHub

WalletHub

July 31, 2023

WalletHub, Balance Transfer Guide, Parul Jain

Do you think most adults know what a balance transfer is and how it works? Why or why not?

Most adults may have heard about balance transfers; however, this can only be availed of if the 0% offer is mailed to them. And it appears that these offers are mailed to people with high credit ratings, who obviously may not be maintaining outstanding credit card balances for transfer. These offers seem to be targeting the wrong audience.

By and large, it seems that most have a partial understanding of how balance transfers work. The devil is in the details: the balance transfer fee could be 3-5%, the 0% is a teaser rate that can skyrocket when the grace period ends, and there is always a minimum amount to be paid to keep the 0% rate. Thus, any lapses can lead to a big tab.

Courier & Press

Courier & Press

July 22, 2023

Courier & Press, YWCA Evansville announces keynote speaker for Equality Day luncheon, Lisa S. Kaplowitz

YWCA Evansville has announced its keynote speaker for the 21st annual Women's Equality Day celebration, and according to the news release, she brings a combination of athleticism, advocacy and business.

Lisa Kaplowitz will be addressing the theme, “From the Locker Room to the Boardroom – Channeling Your Inner Athlete (Even if You Never Played Sports)."

Kaplowitz's background in gender equality advocacy dates to her student-athlete days at Brown University, when she was part of a landmark Title IX case that added more varsity athletic opportunities for women.

NorthJersey.com

July 12, 2023

NorthJersey.com, Moving back with parents after college? In New Jersey, you're not alone., Parul Jain

RentCafe recently showed new data indicating that North Jersey has one of the most competitive rental markets in the nation, due to high home prices, tight housing supply and inflation. Those factors, combined with a job market that has showed signs of slowing for entry-level positions, have made New Jersey the state with the highest percentage of people ages 18 to 34 living with their parents, said Parul Jain, an associate professor of practice in finance and economics at Rutgers Business School.

The Atlantic

The Atlantic

July 12, 2023

The Atlantic, How Much Should You Really Spend on a House?, Morris A. Davis

Given the apparent arbitrariness of the established guidelines, I posed the question of how much a responsible individual should truly spend on a house. I disregarded the fantastical figures that optimistic lenders might approve and focused on an appropriate expenditure. The experts seemed puzzled by this premise. “What does the word responsible even mean?” pondered Morris Davis, a real estate professor at Rutgers.

The most significant danger of overspending on a house is the potential inability to continue making payments in the event of personal or global catastrophes. Admittedly, the risk is relatively low. Even homeowners who allocate up to 38 percent of their income towards their mortgage tend to avoid default, especially if they possess good credit and paid a substantial down payment, according to Davis’ research.

Supply Chain Management Review

Supply Chain Management Review

July 3, 2023

Supply Chain Management Review, The changing face of supply chain executive education, Farrokh Langdana

It’s no secret that supply chains were put to the test during COVID, and that many global networks are still feeling the lasting impacts of the subsequent shortages. That’s because consumer demand increased as the worldwide crisis wound down, exacting even more stress on already-taxed supply chains. “When demand exploded, everything from semiconductors to cars to basic items were hard to get,” says Farrokh Langdana, a professor in the finance and economics department at Rutgers Business School and director of its Executive MBA Program.

Yahoo! Finance

Yahoo! Finance

June 9, 2023

Yahoo! Finance, Nearly $400,000 Raised for Delivering Good at the Inaugural Women of Impact Summit!, Lisa S. Kaplowitz

The event included remarks by Special Guest Speaker, Lizanne Kindler, Executive Chair & CEO, Talbots, Ann Taylor, LOFT, Executive Chair, Lane Bryant, followed by a lively panel discussion moderated by Lisa Kaplowitz, Founder & Executive Director of the Center for Women in Business, Rutgers University that included Jill Beraud, Independent Director, Levi Strauss & Co. Chair, Fashion for Good, Gisel Ruiz, Former EVP Chief Operating Officer, Sam's Club, Independent Director, Ulta Beauty, and Theresa Strickland, Executive Leader and Digital/Brand Transformation Expert.

The Harvard Crimson

The Harvard Crimson

May 25, 2023

The Harvard Crimson, Harvard Experiences 18% Jump in Direct Public Portfolio Value in Q1 2023, John Longo

John M. Longo, a professor at Rutgers Business School and chief investment officer at Beacon Trust, wrote in an email that the growth in HMC’s direct stock holdings mirrors the performance of other investment portfolios during the first quarter.

“The S&P 500 increased 7.5% in Q1, so most diversified equity portfolios rose over the reporting period,” Longo wrote.

As of December 2022, HMC’s holdings in Meta totaled $136 million, representing more than 16 percent of its stock portfolio. By the end of the first quarter in 2023, the company’s Meta stocks were worth more than $240 million — more than a quarter of the value of HMC’s direct public investments.

Longo also wrote in an email that Meta’s stock “has been one of the best performers YTD in 2023.”

“The firm has embraced cost-cutting as well as growth in AI, while seeming to scale back its investments a bit in the metaverse,” Longo said. “Investors seem to like this shift in strategy.”

USA Today

USA Today

May 24, 2023

USA Today, When will inflation slow down? Here's what to know about where consumer prices are headed., Farrokh Langdana

Farrokh Langdana, director of the executive MBA program at Rutgers Business School said that inflation peaked around 9.5% last June and has since fallen to about 5%, though he acknowledged that’s higher than the Federal Reserve’s 2-3% inflation target.

“The economy is growing, there’s optimism, they’re buying more furniture, they’re traveling more, they’re eating out more,” Langdana said. “This is known as demand pull. The demand is pulling up prices.”

At a certain point, however, the demand pull overwhelmed the economy.

“What happened last year was another inflation came in at the worst possible time: cost push inflation. This is inflation caused by shortage,” Langdana said. “This is the cost-push inflation because you have prices going up but production going down.”

Part of the Fed’s tough messaging so far, he added, is to address the psychological component of inflation, because just the expectation of inflation can drive prices higher.

“If the Fed has to tame expectations, it’s not just bringing inflation down, it’s also bringing the expectations of inflation down,” Langdana said. “They’re not just trying to sound tough, there is a purpose here. It’s to shut down any thought that this will be a lingering inflation.”

New Jersey Herald

New Jersey Herald

May 15, 2023

New Jersey Herald, What does the debt ceiling mean for you? What is it? Why is it important in New Jersey?, John Longo

Borrowing costs would go up if the U.S defaults, said John Longo, an economics professor at Rutgers University. “A car loan, a mortgage loan, interest rates go up a little bit and that raises the cost of borrowing to the consumer,” he said.

Reuters

Reuters

May 5, 2023

Reuters, Walmart keeps grocery prices steady amid inflation, antitrust claims, Parul Jain

"The data shows Walmart's power over suppliers and its potential to gain market share from rivals like Amazon," said Parul Jain, a professor of finance and economics at Rutgers Business School, who reviewed the data for Reuters.

Marketplace

Marketplace

May 4, 2023

Marketplace, How can regional banks manage the industry’s troubles?, Darius Palia

In other words: industry consolidation. And there’s room for it. The U.S. has over 4,000 banks, more than any other nation.

These individual acquisitions are supposed to add up to this grand confidence in the banking system. Bank A provides stability by buying Bank B. Bank C buys bank D and so on. But Darius Palia, a finance professor at Rutgers University, said a pattern of saves by lenders and regulators can instead make depositors nervous.

“It’s like crowd philosophy, you know. When does the crowd suddenly turn?” he said.

The Daily Targum

The Daily Targum

May 2, 2023

The Daily Targum, What could current banking crisis mean for future economy, Rutgers students?, John Longo

John Longo, a Rutgers Business School professor, said SVB's collapse occurred after investors questioned the bank's financial stability and the resulting panic caused a bank run.

A bank run refers to when numerous customers simultaneously withdraw their money from a certain bank due to worries about the bank's funds — such withdrawals may actually cause the bank to collapse.

The initial collapse of SVB, a bank that specialized in lending to start-up companies, heightened concerns about the reliability of regional banks and led to a bank run on the now-defunct Signature Bank, he said.

"Every bank is highly levered. So what that means is that, as an example, if you put $100 in the bank, the bank puts the equivalent of less than $10 in either the physical or electronic vault," he said. "So if everybody rushed to the vault at the same time, the bank couldn't service everybody."

Yahoo! Life

Yahoo! Life

May 1, 2023

Yahoo! Life, Delivering Good to Host Inaugural Women of Impact Summit, Lisa S. Kaplowitz

Special guest speaker is Lizanne Kindler, executive chair of Ann Taylor, Loft and Lane Bryant, and chief executive officer at Talbots. The moderator will be Lisa Kaplowitz, founder and executive director of the Center for Women in Business at Rutgers University.

NJ.com

NJ.com

April 24, 2023

NJ.com, 19 fastest declining jobs and how much they pay in N.J., Parul Jain

Jobs which mostly consist of repetitive tasks, like data entry clerks and typists, may be the most likely to be automated, said Parul Jain, an associate professor of professional practice with the finance and economics department at Rutgers Business School.

https://www.business.rutgers.edu/sites/default/files/documents/19-fastest-declining-jobs-parul-jain-nj.com.pdf

NJ.com

NJ.com

April 23, 2023

NJ.com, The Long Pour, Morris A. Davis

Alcohol sales provide some of the highest profit margins in the food service industry, and that’s especially true for fine dining restaurants that are trying to push the envelope, according to Morris Davis, an economist and academic director at the Center for Real Estate Studies at the Rutgers Business School.

“If you want experimental chefs trying new types of cuisine, those experimental chefs have to make money somehow,” Davis said. “If you remove the alcohol, then you have to make money via the food. That leads to fewer experimental restaurants because the food is more expensive.”

https://www.business.rutgers.edu/sites/default/files/documents/long-pour-morris-davis-nj.com-sm.pdf

Markets Insider

Markets Insider

April 6, 2023

Markets Insider, Warren Buffett's Berkshire Hathaway faces a brutal mix of economic headwinds. It will capitalize on the chaos, 8 experts say., John Longo

"Berkshire is a well-diversified business so there is no doubt that they are dealing with the supply chain disruptions and increase in wholesale prices that have impacted many firms. However, several Berkshire firms tend to have pricing power, so it may be able to deal with inflation better than many other firms."

"Buffett has often expounded on the virtues of See's Candies and their ability to raise prices over time. Nebraska Furniture Mart, GEICO, and Berkshire Hathaway Energy are among the lowest cost producers in their industries, so they should be able to raise prices without losing their customer base."

Los Angeles Times

Los Angeles Times

March 27, 2023

Los Angeles Times, Billie Jean King, other investors launch a new way to invest in women’s sports, Lisa S. Kaplowitz

“There’s this impression that these folks know what good sports are. So if they’re investing in it, they must know something I don’t know, so I want to check this out,” said Lisa Kaplowitz, assistant professor at the Rutgers Business School and executive director of the Rutgers Center for Women in Business.

“You’re also investing in the marketing, of telling that ‘why’ to get that fanbase. And then it becomes this virtuous cycle where you’re going to make money off of it,” she said.

The National Desk

The National Desk

March 27, 2023

The National Desk, Banks likely to lend less money in fallout of bank failures, Farrokh Langdana

“That 25-basis point interest rate hike had to happen,” said Farrokh Langdana, professor of finance and economics at Rutgers Business School. “What happens with inflation is if the Fed had not raised interest rates the signal would have been ‘OK, the soft landing is done. The Fed’s not going to tap the brakes anymore.’ We would have been off to the races, people would be like ‘Alright, time to go revenge travel, revenge eating out.’ All kinds of consumption spending would happen.”

The Wall Street Journal

The Wall Street Journal

March 23, 2023

The Wall Street Journal, Pro Take: The Fed Hits Inflation With Ninth Rate Hike as Banks Reel, Farrokh Langdana

“It does nothing for the banks,” Farrokh Langdana, a fi nance and economics professor atRutgers Business School, said of the Fed’s Wednesday rate increase.

Fox 5 New York

Fox 5 New York

March 17, 2023

Fox 5 New York, Here's how much a $100,000 salary in NYC is actually worth, Parul Jain

"I think for New York City, $100,000 would make you pretty poor," Parul Jain, an associate professor of finance and economics at Rutgers Business School, told FOX 5 New York.

Jain noted said many of the factors that eat up an individual's money include housing, transportation, and taxes, while food costs have also increased everywhere.

"$100,000 doesn't go very far, as far as New York City, in particular, is concerned," Jain said. "They will be forced to share and to live more like grad students than professionals."

She said in addition to high taxes and housing costs, inflation is taking a considerable chunk out of our budget.

"The same basket of goods about a year ago cost $350 less per month."

Watch video: https://www.fox5ny.com/video/1197528

NJ Spotlight News

NJ Spotlight News

March 17, 2023

NJ Spotlight News, Business Report: Banking protections, NJ’s gambling revenues, Parul Jain

It remains to be seen in terms of how many more banks crumble, but in general, I would say that you know the policymakers are taking prompt action. It may cause some contagion which means that, you know, a lot of banks are going to come under heavier scrutiny, and the sector is going to suffer as a result, but in general, we don't expect that this is going to be a major financial crisis.

ROI-NJ

ROI-NJ

March 8, 2023

ROI-NJ, Community champions: We salute 10 women who are going above and beyond — and ask: Why aren’t they on your board?, Lisa Kaplowitz

We started our women’s Influencers list at ROI-NJ for two reasons:

To recognize a segment of the business community that too often has been overlooked;
To prove to the leaders that be that there are so many women who are deserving to be in your C-suite and on your boards.
Here’s the thing: The 10 women above are just part of a much larger group that we are recognizing this year.

Then, there’s this: We’re confident that there is a list of women exponentially larger than who we are recognizing today that are equally deserving.

Yes, recognition comes in many ways. It’s time for more people to recognize not only that the future is female, but the future is now.

Lisa Kaplowitz, a top professor who co-founded and heads the Rutgers Center for Women in Business, which is creating the next generation of leaders.

The Harvard Crimson

The Harvard Crimson

February 21, 2023

The Harvard Crimson, Harvard Boosted Investment in Singapore’s Grab App, Modified Biotech Holdings in Q4, John Longo

John M. Longo, a professor at Rutgers Business School and chief investment officer at Beacon Trust, wrote in an email that the increased shares in Grab represent a long-term growth opportunity.

“Grab is akin to the Uber of Southeast Asia, outside of China. It operates in a big market, but the company is currently not profitable. It has $6.5 billion in cash on its balance sheet so it should be able to fund the near-term losses until the company becomes profitable,” Longo wrote.

Longo also noted that Grab is based in an emerging market, which he wrote could have contributed to HMC’s decision to purchase more stocks in the company.

“Emerging market (EM) stocks were among the biggest losers in 2022 and are trading at depressed valuations so HMC’s addition of Grab may be also a play on a rebound in EM,” he said.

WalletHub

WalletHub

February 16, 2023

WalletHub, Best 0% APR Credit Cards, John Longo

Why do banks offer 0% credit cards?

The 0% cards are often a "teaser rate" designed to get people to sign up for the card. The banks know that some people who sign up will not pay their balance in full when the 0% period ends. The interest rate will then often be in the teens or higher for those that do not pay off their balance in full.

Are 0% credit cards a trap?

I would not call them a trap. They are a good deal if the consumer has the income and discipline to pay off the balance in full each month. It is akin to an interest-free loan for 6 to 12 months. Those who cannot pay off their balance in full each month are better off seeking a lower interest rate credit card or simply using a debit card until they build the cash reserves to pay their bill in full each month.

Las Vegas Sun

Las Vegas Sun

February 14, 2023

Victor Glass, Call attacks on the US power grid what they are: Domestic terrorism, Las Vegas Sun

As Rutgers business school professor Victor Glass explained in his 2018 paper, “One terrorist attack away from a major national blackout,” an attack on a small group of critical substations could for weeks shut down power supplies to load centers such as cities, towns and manufacturers. That type of catastrophic long-term loss of power would be far more dangerous than a simple blackout. It would cripple the U.S. economy and pose a direct threat to our national security and American lives.

WalletHub

WalletHub

February 14, 2023

WalletHub, Cities Where Inflation is Rising the Most, Morris A. Davis

What are the main factors currently driving inflation?

Inflation is a rise in the overall price level and it reflects an increase in prices across a wide variety of goods and services. Generally speaking, there are two reasons that prices can rise. The first is that the cost of producing those goods and services rises. For example, a war can interrupt the supply of oil or a pandemic can interrupt supply chains. The second is that the demand for those goods and services rises, forcing firms to source materials from non-standard suppliers and hiring extra workers (paying overtime or training costs, etc.) which increases costs and therefore causes firms to have to raise prices.

Local 12

Local 12

February 1, 2023

Local 12, Global economic outlook improving for some economists, Farrokh Langdana

“This is a typical soft landing,” said Farrokh Langdana, professor of finance and economics at Rutgers Business School. “It’s painful. A soft landing means growth slows from 3.5% to 3% to 2.5% to 1.5%. Unemployment happens, it's not fun.”

“Will President Biden have the luck of the Irish? I'm thinking he will,” Langdana said. “The Biden stimulus plan is going to kick in by spring and the labor participation rates are going to go back up. Even though the number may be small that's enough for wage-prices pressures to go down.”

Texas Public Radio

Texas Public Radio - The Source

January 31, 2023

Texas Public Radio - The Source, Debt ceiling talks are deadlocked as Congress considers cuts to Medicare and Medicaid, John Longo

The Source, hosted by veteran journalist David Martin Davies, is a daily, one-hour call-in talk program that gives listeners in San Antonio the opportunity to call and connect with our in-studio guests and city-wide audience.

Guest: John Longo, Ph.D., professor of professional practice in the finance and economics department at Rutgers Business School, author of "Buffett's Tips: A Guide to Financial Literacy and Life.”

The national debt ceiling sits at $31.4 trillion, and the Republican-led lawmakers in Congress say that they will not raise the limit unless there is a large cut to social safety net programs.

If the debt ceiling is not raised, it could mean a default on Social Security payments, salaries for federal civilian employees and veteran benefits.

What will happen next with the debt ceiling? What cuts could be made to lower spending? How much money does the U.S. government borrow? If Congress continues its standoff, how will this impact the economy?

Poets&Quants for Executives

Poets&Quants for Executives

January 17, 2023

Poets&Quants for Executives, EMBA Spotlight: The Benefits of Rutgers’ Academic-Run EMBA Powerhouse, Farrokh Langdana

Back before COVID sent most meetings to Zoom, Farrokh Langdana remembers interviewing a West Indies EMBA candidate in his office at Rutgers Business School.

Across from him, the candidate froze. He just couldn’t talk. But Langdana saw something in the older man, and his resume was fantastic. Langdana, who grew up in Mumbai, India, picked up a cricket ball from his table, given to him by his brother.

“West Indies? You play cricket right?” Langdana said to the quiet candidate and tossed him the ball.

“He just grabbed it, and then he wouldn’t stop talking,” Langdana tells Poets&Quants. “He went on to finish his PhD in finance and now he’s a professor.”

That’s the advantage of an academic-run EMBA program, as opposed to one run by staff, says Langdana, a professor of finance and economics but also the program director of Rutgers’ Executive MBA, nicknamed the EMBA Powerhouse. All applications come directly to him. He personally conducts about 200 EMBA interviews per year.

As a tenured professor, he has the power to look past a bad day and a bad interview to see what a candidate might actually bring to an EMBA classroom.

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