from the world's big
Re: Is there a silver lining in the economic downturn?
Thomas F. Cooley is the Richard R. West Dean and the Paganelli-Bull Professor of Economics at New York University Stern School of Business, as well as a Professor of Economics in the NYU Faculty of Arts and Science. He was appointed Dean of NYU Stern in 2002.
The former President of the Society for Economic Dynamics and a Fellow of the Econometric Society, Dean Cooley has received numerous awards for his teaching and is recognized as a national leader in both macroeconomic theory and business education. He is a widely published scholar in the areas of macroeconomic theory, monetary theory and policy and the financial behavior of firms.
Before joining NYU Stern, Dean Cooley was a Professor of Economics at the University of Rochester, University of Pennsylvania, and UC Santa Barbara. Prior to his academic career, Dean Cooley was a systems engineer for IBM Corporation. Dean Cooley received his BS from Rensselaer Polytechnic Institute, and his MA and PhD from the University of Pennsylvania. He also holds a doctorem honoris causa from the Stockholm School of Economics.
Question: Is there a silver lining in the economic downturn?
Thomas Cooley: Well, it's a good time for investors, you know, I mean, successful investors view things as opportunities. So the question is figuring out where they are. And when things are booming, it's hard to find, you know, when the economy is just absolutely soaring, it's hard to find things that are underpriced. But when the economy suffers a little hiccup like we have now, maybe even a big hiccup, then it's easier to find things that are underpriced. So there are lots of distressed investors who are out there looking for bargains and expecting to do extremely well. Because what happens is that the debt of say, just to take one example, the debt of bankrupt companies-- when a company goes bankrupt often just way overshoots it actual value so it'll fall far more than what the intrinsic book value of that debt ought to be. And that's–– there are opportunities in that.
Question: Are there opportunities in a weak U.S. dollar?
Thomas Cooley: I think there are problems with the weak American dollar, but I think that it makes the U.S. an attractive target and attractive investment opportunity for foreign money. And it also ought to have a, and has had a stimulative effect on our export industries. So, you know, so there's a silver lining there. I think it's really unfortunate if the U.S. dollar stays extremely weak for a long time. I think that's not good for us.I think it affects the way people think about the U.S. economy. It affects their overall viewpoint. So I just think it's a bad signal to have a weak currency.
Thomas Cooley talks about the investment opportunities in a weak market with a weak American dollar.
Sallie Krawcheck and Bob Kulhan will be talking money, jobs, and how the pandemic will disproportionally affect women's finances.
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- Selfish behavior has been analyzed by philosophers and psychologists for centuries.
- New research shows people may be wired for altruistic behavior and get more benefits from it.
- Crisis times tend to increase self-centered acts.
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Parenting could be a distraction from what mattered most to him: his writing.
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Scientists uncovered the secrets of what drove some of the world's last remaining woolly mammoths to extinction.
Every summer, children on the Alaskan island of St Paul cool down in Lake Hill, a crater lake in an extinct volcano – unaware of the mysteries that lie beneath.
Hollywood has created an idea of aliens that doesn't match the science.
- Ask someone what they think aliens look like and you'll probably get a description heavily informed by films and pop culture. The existence of life beyond our planet has yet to be confirmed, but there are clues as to the biology of extraterrestrials in science.
- "Don't give them claws," says biologist E.O. Wilson. "Claws are for carnivores and you've got to be an omnivore to be an E.T. There just isn't enough energy available in the next trophic level down to maintain big populations and stable populations that can evolve civilization."
- In this compilation, Wilson, theoretical physicist Michio Kaku, Bill Nye, and evolutionary biologist Jonathan B. Losos explain why aliens don't look like us and why Hollywood depictions are mostly inaccurate.