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Posts published in “Issue 5: February 2021”

This time, it’s different

By Nicolaus Schmandt

The image for this article shows the cycle of human emotions as the stock market goes through booms and busts. Investors should never forget it, especially as we are moving towards the “euphoria” peak, with speculative bubbles growing in tandem. Each time this happens, the bubble comes with a narrative as to why stocks should be so much above normal valuations, or why the rules don’t matter anymore. In the years leading to 2008, everyone was moving to the sunbelt and their properties and mortgages would never go down in value. In 1999, the internet was going to fundamentally change the world in such a way that normal valuations simply wouldn’t apply.…

Index Fund Millionaire

By Kyu Kim

In our Foundations of Finance class, we all learned about modern portfolio theory. In this brief article, I will summarize this famous theory we learned and how it’s implemented in the real world. I hope Sternies can understand this concept more practically, as it is essential for early retirement plans for young professionals.

According to modern portfolio theory, developed in the 1960s by Harry Markowitz, a Nobel Prize winning economist, risk-averse investors can create an optimal portfolio by holding both risk-free securities as well as risky assets. Given that higher risk is an inherent part of higher reward, this method maximizes expected return based on a given level of market risk.…

Dear Oppy: February 2021 (Valentine Edition)

We are proud to continue our agony advice column, Dear Oppy: B-School Advice for the Everyday Sternie.

Oppy can be quite Stern at times but is here to answer the queries and qualms of all MBA students so send them his/her way at

Dear Oppy,

Valentine’s Day is coming up and I don’t want to spend it alone. The pandemic has made dating tougher than it already was. Do I swipe right on a dating app? Try to slide into the DM’s of my cute classmate? Is it even safe to meet up? I don’t know. Any advice on how to find that perfect someone in time for Feb 14?

Competitive MBA 2021

Joline Huntemann was looking forward to starting her MBA at Stern in the fall of 2020, a step she felt she was taking at the right time in order to advance her career. However, Huntemann, who lives in Colonge, Germany, decided to defer a year due to visa complications and restrictions brought on by the pandemic.  

Like many of her fellow incoming MBA students, Huntemann decided it was best for her to continue work for another year in order to return next year and get a more complete MBA experience.

Following a steep drop in full-time MBA applicants for the fifth year in a row, the trend has suddenly reversed in 2021 with experts suggesting this year could possibly be the most competitive year for full-time MBA programs. …

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