The LSU E. J. Ourso College of Business Department of Finance hosted Richard Yamarone, Bloomberg Television Economist, as a guest speaker, Wednesday, March 16, 2011, in the SMART Lab.
Yamarone gave a presentation on the economic indicators that influence both recessions and recoveries. These include the overall unemployment rate as jobless benefit claims point to stagnant activity, overall economic activity levels, changes in gross domestic product and the Institute for Supply Management inventory-order indicators.
According to Yamarone, economic forecasting will have its flaws, but that should not influence speculations.
“Don’t ever be afraid of being wrong,” Yamarone said to the students in the SMART Lab.
Don M. Chance, the James C. Flores Endowed Chair of MBA Studies and a finance professor for the E. J. Ourso College of Business, described the well-attended event as an excellent opportunity to hear from one of the best practical economists in the country.
“His gave an excellent overview of the challenges we face in today’s economy,” Chance said. “I was also impressed with the quality of the students’ questions, and I think he was too.”
Yamarone also emphasized the importance of understanding the Bloomberg Terminal, located in the SMART Lab, when pursuing a financial career. According to Yamrone, students should know how to download and access the Bloomberg data.
With more than two decades of experience on Wall Street, Yamarone has consulted monetary and fiscal policymakers and serves as an economic adviser to several major U.S. corporations. Additionally, he has worked for international and domestic money center and investment banks in a variety of senior positions. In 2007, USA Today highlighted him as one of the top 10 economists in the nation and, in 2008, Bank Advisor Magazine called him the “Nostradamus of the Financial Industry” because of his predictions regarding the financial crisis.
The Department of Finance at LSU’s E. J. Ourso College of Business offers high quality programs for undergraduate and graduate students interested in careers in corporate finance, asset management, real estate, insurance, banking, financial planning and business law. Aiming to create exciting educational opportunities for its students, the department employs tools such as the Securities Markets Analysis Research and Trading (SMART) Lab. This 44-station simulated interactive trading floor enables students to gain practical experience in the fast-paced world of securities analysis, research and trading. Additionally, the Department of Finance encourages, supports and conducts research in real estate by housing the nationally renowned Real Estate Research Institute. For more information, visit www.bus.lsu.edu/finance, call 225-578-6291, or e-mail finance.lsu.edu.
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