New from CRSP - february 2010
forum 2010:
call for papers
You will want to mark your calendar for November 4 and 5, 2010. Click here for the Forum website.
Please join us in Chicago at the Gleacher Center for CRSP Forum 2010. This biennial gathering of thought leaders from the academic, commercial and government sectors will bring together unique research, opinions and perspectives on finance and the economy. The 50th Anniversary of the founding of the Center for Research in Security Prices will also coincide with next year’s Forum. To mark this special occasion, our line-up of keynote and panel presentations will be a highly distinguished group who will reflect on the CRSP Forum 2010 theme: Modern Finance: Past, Present and Future.
Registration details will be posted later this month so please check back. Our call for papers and participants is available here.
CRSP is growing!
CRSP is expanding again, with a talented staff soon reaching nearly 70 who are all committed to the delivery of quality data products. To learn more about career opportunities at CRSP and to see current open positions, visit our Career page.
aNNUAL SHIPMENTs
The annual release of US Stock and Indices, Treasuries, and the CRSP/Ziman Real Estate Data Series were shipped at the end of January.
CHICAGO BOOTH FINANCIAL TIMES RANKINGS
The Financial Times published its annual ranking of full-time MBA programs. Chicago Booth was ranked 9th overall in the global ranking and 6th among U.S. business schools. In the previous Financial Times ranking, Chicago Booth ranked 11th globally and 9th among U.S. business schools.
Chicago Booth ranked 1st in placement success in the annual ranking of the world’s best full-time MBA programs, released January 25. Booth also ranked 1st in finance, 1st in economics and 2nd in accounting.
in the press
CRSP
Chicago Booth Professor Pietro Veronesi, has published a new textbook, Fixed Income Securities: Valuation, Risk, and Risk Management. It provides a thorough discussion of these complex securities, the forces affecting their prices, their risks, and of the appropriate risk management practices. CRSP data are utilized in several examples in the book.
CRSP Board Members
FINANCIAL TIMES: New research by CRSP Board Chairman and Professor Eugene Fama was featured in an article headlined “Why it’s so hard to consistently beat the market.” Professor Fama studied mutual funds over a 22 year period and found almost no evidence of active fund managers beating the market consistently. The numbers are so small as to be almost entirely due to luck, he found. Read more >>
THE NEW YORKER: A lengthy interview with CRSP Board Member and Professor John Cochrane discussing the Chicago School of Economics and the financial crisis was posted on the magazine’s website. Read more >>
Separate New Yorker interviews were also posted featuring Professors Richard Thaler, Raghuram Rajan, Kevin Murphy, Gary Becker and Eugene Fama. Read more >>
THE NEW YORK TIMES: CRSP Board Member and Professor Douglas Diamond and Anil Kashyap wrote an op-ed on how to design an effective penalty on bailed-out banks, titled “Return Our Investment.” Read more >>
MARKETPLACE RADIO: Professor Diamond was featured in a segment titled “Obama seeks to limit banks’ size, risk,” broadcast January 21. Read more >>
LOS ANGELES TIMES: CRSP Board Member and Professor Steven Kaplan’s research by CEO pay was featured in an opinion column headlined “Bringing overpaid executives to heel.” Market forces govern CEO compensation, Professor Kaplan said, adding that most CEOs are paid what they are worth.
From the Initiative on Global Markets
Return Our Investment: By CRSP Board Member and Professor Douglas Diamond and Professor Anil K Kashyap
WALL STREET is considering legal action to prevent President Obama from imposing a new tax on bailed-out financial institutions. Because the law that created the Troubled Asset Relief Program compels the government to recoup the bailout money, it’s unlikely that banks will succeed in avoiding recompense. So rather than debate the constitutionality of the proposed tax, it is far more productive to design the best possible repayment plan. Read more>>
Consulting Faculty to CRSP
INVESTMENT NEWS: Professor Lubos Pastor made the list of “20 people who will have a big influence on the financial services industry in 2010,” published in the December 14th edition. His current research attempts to answer the question: If actively managed mutual funds don’t consistently outperform index funds, why do investors continue to invest in them?
An article about Professor Pastor’s research can be found here >>
The Investment News “20 of 2010” article can be found here >>
| February 17 | Monthly US Stock and Indices Database Ship Date |
| February 26 | Monthly CRSP/Ziman Real Estate Data Series Ship Date |
| March 1 | Monthly CRSP/Compustat Merged Database Ship Date |
| March 16 | Monthly US Stock and Indices Database Ship Date |
| March 31 | Monthly CRSP/Ziman Real Estate Data Series Ship Date |