Haas NewsWire

Haas NewsWire, September 24, 2001

Celebrate Haas at Homecoming this Weekend
Bill Drayton to Give the Peterson Ethics Lecture
Third Faculty Profile: Terrance Odean Joins the Finance Group
New Staff
Haas in the News
Happening at Haas
Alumni Events

Haas NewsWire Archive
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All faculty, staff, and students are invited to celebrate homecoming and network with alumni and friends from across the country at Reunions and Homecoming 2001 this Saturday, September 29. Events at the school begin at 9:30 a.m. and end at 2:00 p.m., just before game time.

Homecoming festivities start with two concurrent -- one on career management and one on e-business. "Opportunistic Career Management" by John Morel, associate director of MBA Alumni Career Services, takes place in the Helzel Boardroom. The faculty lecture by Professor Rashi Glazer titled "Winning in the New Economy: The Evolution of E-Business" takes place in Arthur Andersen Auditorium. Both events start at 9:30 a.m.

After these sessions, all attendees are invited to a Tuscan-Style Italian Feast in the Haas courtyard before the homecoming game against the University of Washington kicks off at 2:00 p.m.

Tickets in the Haas School block of seats at the game are still available at http://www.haas.berkeley.edu/alumni/registration/index.html. The discounted faculty and staff rate for the Tuscan feast is $10. Register online at http://www.haas.berkeley.edu/alumni/registration. The deadline to register is Wednesday, September 26.

For Reunions, classes ending in 1 or 6 have additional class-specific events over the course of the weekend.

For more information: http://www.haas.berkeley.edu/alumni or contact the Haas Alumni Relations Office at 510-642-7790 or alumni@haas.berkeley.edu. The football kick-off time is subject to change. Check current schedule at: http://calbears.fansonly.com.

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William Drayton, founder of Ashoka, an organization that supports social entrepreneurship, will give the fourth annual Peterson Ethics Lecture on October 12 at 4:00 p.m. in the Wells Fargo Room.

Drayton founded Ashoka in 1980 to use a venture capital model to support social entrepreneurs, described by Ashoka as practical visionaries who are committed to social change. The primary activity of the organization is identifying social entrepreneurs around the globe as candidates for Ashoka Fellowships, which provide both financial and professional support. To be chosen, each prospective fellow goes through a rigorous search and selection process.

Fellows receive a living stipend (typically for three years) and they join the Global Fellowship -- a worldwide network of social entrepreneurs. This year, Paul Rice, MBA 96, was named an Ashoka Fellow for his work founding TransFair USA, a non-profit certification organization for Fair Trade products.

Since 1982 the organization has elected over 1,100 Ashoka Fellows in 41 countries. Ashoka Fellows work in six areas: learning/education, environment, health, human rights, civic participation, and economic development. Approximately 150 new fellows are elected each year by the Ashoka staff.

Prior to founding Ashoka, Drayton was a McKinsey and Company consultant for almost ten years, gaining wide experience serving both public and private clients. He was also assistant administrator at the US Environmental Protection Agency for four years. He served briefly in the White House, and taught both law and management at Stanford Law School and Harvard's Kennedy School of Government.

Drayton graduated from Harvard College and holds a law degree from Yale Law School. He was a MacArthur Fellow; the Yale School of Management gave him its annual Award for Entrepreneurial Excellence, the American Society of Public Administration and the National Academy of Public Administration jointly awarded him their National Public Service Award, and the Common Cause gave him its Public Service Achievement Award. He has also been named a Preiskel-Silverman Fellow for Yale Law School and is a member of the American Academy of Arts and Sciences.

Ashoka does not accept government funds, only funds from private individuals and foundations. According to the organization, Ashoka is named after a 3rd century B.C. emperor of India who is remembered for trying to improve the living conditions in India. In Sanskrit, Ashoka means "the active absence of sorrow."

This annual lecture is sponsored the Peterson Program in Business Ethics, funded by a gift from Rudolph Peterson, BS 25, president and CEO emeritus of BankAmerica Corporation. Last year Treasury Secretary Paul H. O'Neill, then director and chairman of Alcoa, gave the lecture.

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Terry Odean, Ph.D. 97, has returned to the Haas School after four years as an assistant professor at the Graduate School of Management at UC Davis. After receiving his Ph.D. at Haas, Odean continued his doctoral research into behavioral finance at Davis. He received extensive national press coverage for this research because it has consistently shown that individual investors don't make rational decisions about their investments.

Odean's work in behavioral finance started as theoretical work early in his graduate career here at Haas. His dissertation included empirical analysis of trading records for 10,000 randomly selected accounts given to him by an anonymous firm. In this data he saw patterns that challenged conventional ideas about investors' behavior. The traditional model assumes that investors are rational when they make decisions. Odean has shown that many investors consistently make sub-optimal investment decisions. On average, the stocks individual investors buy underperform those they sell, and the investors who trade most actively earn the lowest average returns.

"Doing research that shows people buy and sell too frequently has taken the fun out of trading for me," says Odean. "When I consider selling or buying, I end up saying to myself, 'This probably isn't as smart as I think it is.'"

Odean has been quoted in the Wall Street Journal, The New York Times, the Washington Post, Newsweek, Time, US News and World Report, Business Week, Forbes, the Financial Times and numerous other publications.

In the spring semester, Odean will teach "Behavioral Finance" in the full-time and evening MBA programs. His office is F495, his phone number is 642-1281, and his e-mail address is odean@haas.berkeley.edu.

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Clausen Center for International Business & Policy Welcomes New Program Coordinator

Erin Smith has joined the Clausen Center for International Business & Policy as program coordinator, working with Sebastian Teunissen, executive director. She will be responsible for making logistical arrangements for the MBA International Business Development Program and the Evening MBA Seminar in International Business, maintaining the Haas Global web pages, and assisting with the day-to-day operations of the center.

Erin received her BA in French and international studies from the University of North Carolina at Chapel Hill in 1997. She comes to the Haas School from the San Francisco Wine Exchange, where she worked in marketing and web design. Prior to that she worked in New York for a French furrier. Erin is a student of piano at the Berkeley Jazz School.

Erin's phone number is 643-1048, her office is room F488, and he e-mail address is epsmith@haas.berkeley.edu.

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Jay Stowsky, associate dean for school affairs and initiatives, was quoted in the October 1 issue of Business Week in an article about the impact of the terrorist attacks on the private and public sectors. Read more here: http://www.businessweek.com/magazine/content/01_40/b3751701.htm.

Dean Laura Tyson wrote her Economic Viewpiont in the Business Week issue of September 24. The article was titled "Social Security Lockbox Just Puts Pols in a Box." Read the full story here: http://www.businessweek.com/magazine/content/01_39/b3750019.htm.

Tyson also appeared in the Guardian on September 22 in an article regarding her appointment as the London Business School dean.

Hal Varian, dean of the School of Information Management and Systems and Haas professor in the Manufacturing and Information Technology group, appeared on Business Week Online on September 21 in a story about the future of the new economy. Read the full article here: http://www.businessweek.com/bwdaily/dnflash/sep2001/nf20010921_7103.htm.

Severin Borenstein, the E.T. Grether Professor in Public Policy and Business Administration, was quoted in the San Francisco Chronicle on September 20 in an article discussing the airline crisis. Read the full text here: http://www.sfgate.com/cgi-bin/article.cgi?file=/chronicle/archive/2001/09/20/BU101866.DTL

Borenstein was on National Public Radio on September 29, discussing the proposal for bailing out the airline industry.

The Haas startup Sportium was mentioned in the San Francisco Chronicle on September 18 in an article about workers coping with stress over the September 11 terrorist attacks. Read more in http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2001/09/18/BU209842.DTL.

Dean Laura Tyson appeared on CNN's Street Sweep on September 18. She spoke on the prospects for the US economy.

The Wall Street Journal quoted Borenstein in three different articles on September 17 in a special California Energy section. The articles are titled "Solutions, Solutions," "Never Mind," and "Pointing the Finger."

Fox news featured Tyson in The O'Reilly Factor show on September 17. Tyson discussed the impact of terrorism on the US economy.

On September 17, Janet Yellen, the Eugene E. and Catherine M. Trefethen Professor of Business Administration, was quoted in The Daily Telegraph in which she commented about the historical stock market reactions to crises.

The New York Times quoted Peter Sealey, adjunct professor and co-director of the Center for Marketing and Technology, in two different articles relating to the difficulties the advertisers and marketing agencies have encountered as a result of the attacks. The articles were titled "What's an Industry to Say to Skittish US Travelers?" and "Media Trying to Stem Losses with Dignity."

Yellen was featured by The New York Times on September 16 in an article titled "A Body Blow to the Economy" in which she discussed what Americans can do to help the economy.

Ken Rosen, the California State Professor of Real Estate and Urban Economics and chairman of the Fisher Center for Real Estate and Urban Economics, appeared in the September 15 Australian Financial Review in an article about the building and planning of sky-scraping landmarks.

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