March 18, 2009
Volunteers of the Year to be Honored at Annual Dinner
NYSSA relies on those members who dedicate great amounts of time to create many of the programs that you attend. To honor these individuals, NYSSA presents them with Volunteer of the Year awards at our Annual Dinner. The Volunteers of the Year are selected based on their level of service and commitment to NYSSA’s mission. |
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Moody’s Updated Modeling Parameters for Rating Corporate Synthetic CDOs and Cash Flow CLOs
A brief overview
by Iftikhar U. Hyder
In recent months, as the credit crisis that started in the summer of 2007 has spread across various sectors, and economies around the world are confronted with a deep and long recession, synthetic CDOs and cash flow CLOs—whose ratings have been relatively stable—have started seeing substantial downgrades. During the past few months, Moody’s has revised and updated the key modeling parameter assumptions that it uses to rate and monitor CDOs and CLOs backed by corporate debt. These changes alone have led Moody’s to downgrade—in many cases by several notches—a large number of CDO and CLO tranches, and many remain on review for possible further downgrade. |
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Yale University Has Strong Showing at Global Challenge
The Yale University team finished in a tie for second place at the Third Annual Global Investment Research Challenge, held on April 2 in London. The winner of this year’s Global Challenge was Nanyang Technological University from Singapore. University College Cork, Ireland; and Fundação Getulio Vargas School of Business, Brazil rounded out the final four. |
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Entrepreneurial Tip Corner
Managing Stress on the Job
by Michael Herz, CPA, MBA
READING THIS TIP SHOULD NOT STRESS YOU OUT.
Stress-related disorders are fast becoming the most prevalent reason for employee disability. Job stress and related problems cost U.S. companies an estimated $200 billion annually through absenteeism, turnover, accidents, etc. The World Health Organization calls job stress a “worldwide epidemic.” In today’s uncertain economic environment—with announcements of downsizing, layoffs and bankruptcies occurring daily, directly affecting millions of employees—everyone feels the stress involved. |
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Book Review
by William A. Hayes
Restoring Financial Stability: How to Repair a Failed System
by Viral Acharya and Mathew Richardson (Editor). Wiley, John & Sons, Incorporated, 2009.
This important new book, by faculty members of the NYU Stern Business School, is a clearly presented and documented history of what led to the current financial crisis, and recommendations for actions to prevent future crises. |
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New Members
NYSSA welcomes and congratulates its newest members. |
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Words of Investing Wisdom: Valuable in these Challenging Times!
While most of us know that there are core principles upon which sound investments are made, it’s equally clear that, like snowflakes, no two investing strategies are exactly alike. Equally talented and accomplished investors can view the same investment opportunity in precisely opposite ways. That’s a central reason why Mr. Whitney Tilson and Mr. John Heins launched Value Investor Insight four years ago (and SuperInvestor Insight two years ago), to help inform the ongoing development of readers’ own unique investment strategies with the experience, wisdom and ideas of a wide variety of superior investors. |
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Gain The Tools You'll Need To Succeed in 2009 and Beyond!
Warren Buffett once said, "Be fearful when others are greedy, and greedy when others are fearful." Given today’s unstable economy, these words have never rung more true. |
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