| Daily newsletter from NYSSA for investment professionals |  |
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| Industry Update | | |
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- S&P overhauls criteria for rating CMBS
Standard & Poor's finalized criteria for commercial mortgage-backed securities after months of review. The standards employ one model for rating a range of CMBS, including single loans and multiple-loan "conduits." S&P previously said that it expected the criteria to have no effect on 75% of the rated debt, while 10% might get an upgrade and 15% a downgrade. The Wall Street Journal/Dow Jones Newswires
(9/5)      
- Longer lives should lead to greater investment in stocks
With people living longer and needing to fund their retirement for a more extended period, the old advice about moving investments to fixed instruments over time no longer applies, says BlackRock's Quintin Price. And as that message sinks in, “We're going to see this kind of investment evolve to the point where people are going to change behavior and going to take longer-term views and going to own more high-yielding equities," Price said. Bloomberg
(9/5)
- PIMCO's Gross says we're at the dawning of age of inflation
Pacific Investment Management's Bill Gross says the era of double-digit portfolio gains due to credit expansion is over. That era, he said, has been replaced by the "age of inflation, which typically provides a headwind, not a tailwind, to securities prices -- both stocks and bonds." Bloomberg
(9/5)
- Financial regulations need to be simple
 Sebastian Mallaby, senior fellow at the Council on Foreign Relations, argues policymakers should stick with simple financial regulations as increasingly complex rules are not improving the system. Financial Times (tiered subscription model)
(9/4)
| New York Focus | | |
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- Commentary: N.J. should thank Booker and Christie
After years of sitting silently on the sidelines of national politics, New Jersey should be grateful to Newark, N.J., Mayor Cory Booker, a Democrat, and New Jersey Gov. Chris Christie, a Republican, for putting the state back on the map at their parties' national conventions, according to Newark Star-Ledger columnist Mark Di Ionno. "Like 'em or not, both Gov. Chris Christie and Mayor Cory Booker, are good for the state," he wrote. The Star-Ledger (Newark, N.J.)
(9/5)
| Career Development | | |
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- Looking for innovators? Try hiring people you dislike
Groupthink is the enemy of innovation -- and the best way to ensure a wide range of views and perspectives is to hire people you can't stand, writes ZestFinance CEO Douglas Merrill. "As long as you're ensuring they are smart, the people who annoy you represent the diversity you and your company require," he writes. Fast Company online
(9/4)
| Financial Products | | |
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| NYSSA News | | |
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- Investing in the construction and materials industry
Learn about the ins and outs of the construction and materials industries and what key drivers investors need to understand, as well as the overall outlook for the sector. After that, the executives from several publicly traded construction and materials companies will present and provide an update about their business and future prospects.
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 | One never notices what has been done; one can only see what remains to be done."
--Marie Curie,
Polish-French physicist and chemist
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