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In the world
of finance, investors, executives, and analysts frequently use
numbers as a convenient form of shorthand. Interest rates, dividend
yields, stock prices, weekly sales figures – this data can
give professionals an accurate picture of how economies and companies
are performing.
In the world
of financial education, numbers matter, too, which is why we are
particularly gratified by the recent publication of two rankings.
This winter, the Financial Times adjudged Stern to be the
eighth-rated full-time MBA program in the United States, and the
tenth-rated program in the world. And last December, a broad study
of faculty research productivity was published in the Academy
of Management Journal. Stern ranked fourth out of more than 400
universities for faculty research productivity in top-tier journals;
five of our eight individual disciplines scored in the top ten.
As seen by
recent activity in the equity markets, however, numbers can be
deceiving. Many $100 stocks now trade for $2. And just as many
sure-fire business models have been abandoned as unworkable.
By contrast, our improved quantitative rankings are based not
on overly optimistic projections or flawed assumptions, but on
hard facts. Outsiders may note that Stern is improving on a quantitative
basis. But those who spend time on our campus also know that all
of our constituencies – administrators, faculty, and students
– are improving on a qualitative basis as well.
For example,
we are aggressively leveraging our position as a center of academic
excellence located in the heart of the world’s financial
capital. Last fall, we broke new ground in the field of business
education by becoming a part of the new TRIUM Executive MBA Program.
This exciting partnership allies Stern with two of the world’s
other premier institutions: the London School of Economics and
HEC Paris, Graduate Business School. And this spring, Stern sent
the entire junior undergraduate class on a business trip with
destinations in Italy, Hong Kong and Mexico.
The contents
of this magazine highlight the fact that an understanding of finance
goes far beyond numbers. You may find yourself drawn in by the
charts and figures. But you will be most impressed with the sophistication
of the analysis, the breadth of topics covered, and the wide-ranging
interests of our contributors.
The same holds
for the entire Stern School. Sure, the numbers are exciting, and
a justifiable source of pride. But the figures are merely the
tip of the iceberg. I invite you to discover – and rediscover
– our rich array of offerings.
George Daly
Dean
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