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Alert Investor: "The Birth of a Hedge Fund"

01/05/2016

Alert Investor: "The Birth of a Hedge Fund"

. . . Fraud occurs more frequently at small hedge funds, but the world of larger funds is also not immune. Perhaps the most infamous examples of the latter were the hedge funds that invested with disgraced investment manager Bernie Madoff, who in 2009 was convicted of running a $50 billion Ponzi scheme. (Learn the warning signs of hedge fund fraud at the FBI’s Hedge Fund Information for Investors page.)

Given the risk of fraud, it also takes a certain personality to win the trust of wary investors. Aron Gottesman, chair of the department of finance and economics at Pace University’s Lubin School of Business said hedge fund entrepreneurs can come from any background – as seen with Zweig’s foray into the field – but they share some common traits.

“They usually have some type of experience within the hedge fund industry already, they have to be well connected and extremely confident in their own ability to generate returns for their clients,” Gottesman said.

For a hedge fund getting off the ground, industry reputation is currency in attracting capital. Institutional investors such as pension funds will often base their decisions on the investment track record of the managers and their real-world experience in the industry.

They also look for a potentially innovative strategy, something that sets the newbie fund apart. But again, even that doesn’t guarantee success.

“There are risks involved,” Gottesman said. “Hedge funds can take risks in the amount of leverage they use. Setting aside any fraudsters that are able to fool the market into giving them money, even those that are experienced and well-meaning can lose a lot in this market.”

Read more: https://www.thealertinvestor.com/the-birth-of-a-hedge-fund/

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MarketWatch: "Beware of viral Facebook posts that vow to protect your privacy"

01/04/2016

MarketWatch: "Beware of viral Facebook posts that vow to protect your privacy"

. . . When Facebook members have become embroiled in a public news story their photos have appeared in newspapers and online, for instance, media outlets typically credit Facebook, not the Facebook account holder or the person who took the actual photograph. And while Facebook members own copyright on their photos, the company may have to pass on photographs to the authorities, if ordered to by a subpoena in a criminal investigation, a court order or a search warrant. “There’s a lot of value associated with these pictures,” says Darren Hayes, director of the cyber security division and assistant professor at Pace University in New York. “Facebook must have photos that are worth billions of dollars.”

You may not have complete control over how your Facebook photos are used, in certain circumstances at least. You can, however, control what photos and adverts you see. Did you search for a sofa online or a wedding venue, and are you now being inundated with ads for sofas and wedding venues? Although you cannot block ads entirely without using ad-blocking software like Social Fixer or AdBlock, you can opt out of these targeted ads: Go to “Settings,” click on ads and edit settings to opt out of ads. For social networkers who value their privacy, Hayes says, these are instructions worth re-posting.

Read more: http://www.marketwatch.com/story/beware-of-viral-facebook-posts-that-vow-to-protect-your-privacy-2015-09-30

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The Examiner: "Pace Economics Team Captures Second Fed Reserve College Title"

12/23/2015

The Examiner: "Pace Economics Team Captures Second Fed Reserve College Title"

. . . All seven members of this year’s Pace team are economics majors in Pace’s Dyson College of Arts and Sciences. Team members are Katherine Craig, Daniella Gambino, Omar Habib, Jozef Lampa, Melissa Navas, Jonathan Okane and Yuliya Palianok. Mark Weinstock and fellow economics professor Greg Colman serve as advisers, training the team during the year and helping them prepare their presentation.

“We go through, literally, hundreds and hundreds of questions and responses to make sure they are prepared with all the different nuances of what they need to know,” Weinstock said.

Students are also expected to read The Wall Street Journal and The Economist as well as speeches and research papers by economists, bank presidents and governors.

Pace Economics Department Chairman Joseph Morreale said creativity and teamwork are crucial.

“Many of the teams that compete don’t operate in such a teamwork fashion,” he said. “I think that’s a benefit of having two faculty working with them for so long. They usually spend five or six months preparing them. It’s a long haul that starts in the summer.”

The Pace Economics Department has grown in popularity in recent years and now has about 200 economics majors, Morreale said. Students can specialize in business economics, public economic policy and Chinese Economic Studies, which includes travel courses to China. Students are required to prepare a senior thesis.

Economics majors often seek jobs in financial institutions, healthcare organizations or the nonprofit sector, while some have accepted positions in the Federal Reserve itself, Morreale said. Starting salaries for graduates range from $60,000 to $80,000 a year, he added.

Students looking to major in economics should take a math sequence, including pre-calculus and calculus, and the Advanced Placement macroeconomics and microeconomics half-year classes. Students who achieve at least a 3 of 5 on the AP test earn college-level credit, Morreale said.

“I’ve always argued that they should also take world history because they have to understand the new economy of the world. It’s not just being a national economy anymore,” he said.

Read more: http://www.theexaminernews.com/pace-economics-team-captures-second-fed-reserve-college-title/

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Computerworld: "To break terrorist encryption, pay off Apple and Google, expert urges"

12/18/2015

Computerworld: "To break terrorist encryption, pay off Apple and Google, expert urges"

To break encrypted smartphone messages used by terrorists, tech companies such as Apple and Google need to be paid by law enforcement, an expert urged Thursday.

"If there were a financial incentive for Google and Apple to assist law enforcement, then they would be more willing to change their encryption technology to facilitate law enforcement in possession of a warrant," said Professor Darren Hayes, director of cybersecurity at Pace University, in an interview.

Tech companies and wireless carriers currently get reimbursed "quite nicely," he said, for their time and help when faced with a court warrant under the 1994 Communications Assistance for Law Enforcement Act (CALEA), a wiretap law that allows the FBI and others access to some communications, but not encrypted data.

Apple and others "are in the business to make money, so you have to make a business case for them to cooperate," Hayes added.

Read more: http://www.computerworld.com/article/3016665/security/to-break-terrorist...

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Westchester County Business Journal: "Pace’s SWAG participants showcase water robots"

12/15/2015

Westchester County Business Journal: "Pace’s SWAG participants showcase water robots"

A fall semester of designing, engineering, constructing and hack-proofing water robots concluded with a showcase this weekend featuring presentations from 30 high school girls who participated in the workshop at Pace University.

Called STEM Women Achieve Greatness, or SWAG, the nine-week program enlisted girls interested in science, technology, engineering and math from high schools in Westchester and Fairfield counties to work with faculty from Pace’s Seidenberg School of Computer Science and Information Systems.

Read more: http://westfaironline.com/76363/paces-swag-participants-showcase-water-robots/

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The Chronicle Review: "Moral Meals"

12/14/2015

The Chronicle Review: "Moral Meals"

America, as everyone knows, is the land of the free and the brave and the well fed.

Yet for a people who have loudly broadcast both their independence and their national abundance, Americans have an unusually long history of dietary reformers trying to change what everyone else eats and drinks. From 19th-century teetotalers to tofu-and-brown-rice-eating hippies to contemporary weight-loss evangelists, reformers’ efforts have always been about more than health. In fact, the promise of life-changing transformation implicit — and sometimes explicit — in those reform efforts has been a major part of their appeal. Digging into the motives of diverse reformers, E. Melanie DuPuis’s Dangerous Digestion: The Politics of American Dietary Advice expands the discussion in both time and scope. By starting her examination in the late 18th century, DuPuis, a professor of environmental studies and science at Pace University, usefully pushes back the chronology of didactic food reform, revealing a long and complicated discourse around self-discipline, purity, and freedom.

Read more: http://chronicle.com/article/Moral-Meals/234540

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San Diego Union-Tribune: "What FBI, police are doing to prevent terror attacks"

12/14/2015

San Diego Union-Tribune: "What FBI, police are doing to prevent terror attacks"

An FBI dive team prepares to search Seccombe Lake for evidence in connection with last week's fatal shooting at Inland Regional Center , Friday, Dec. 11, 2015, in San Bernardino, Calif.  Jae C. Hong/AP PHOTO

. . . The new generation of terrorists have also frustrated investigators’ classic wiretap techniques by foregoing standard phone calls in favor of highly-encrypted third party apps, some which are run out of countries without U.S. jurisdiction, said Darren Hayes, director of cyber security and an assistant professor at Pace University in New York. For instance, one of those apps, Telegram, was used by the terrorists in the Paris massacre.

Read more: http://www.sandiegouniontribune.com/news/2015/dec/12/fbi-law-enforcement...

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SC Magazine: "Comey calls encryption a business model issue, raises hackles of privacy advocates"

12/14/2015

SC Magazine: "Comey calls encryption a business model issue, raises hackles of privacy advocates"

. . . computer forensics and security expert Darren Hayes, an assistant professor and director of cybersecurity at Pace University's Seidenberg School of Computer Science and Information Systems in New York, told SCMagazine.com, that by moving to place encryption keys locally on user devices as Apple and Android have done rather than leaving the keys on servers puts the country “at risk.” Hayes said his research showed that post-Snowden and WikiLeaks jihadists are increasingly placing importance on encryption.

And he noted that currently the Manhattan DA's office currently has more than a 100 cases pending that it can't prosecute because it is unable to get to encrypted information.

Read more: http://www.scmagazine.com/comey-calls-encryption-a-business-model-issue-raises-hackles-of-privacy-advocates/article/459404/

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Agence France-Presse: "Data encryption in sharp focus after deadly attacks"

12/14/2015

Agence France-Presse: "Data encryption in sharp focus after deadly attacks"

Investigators look at the vehicle involved in a shootout between police and two suspects in San Bernardino, California, on December 3, 2015 ©Patrick T. Fallon (AFP)

. . . Darren Hayes, a professor of computer science forensics at Pace University in New York, said one helpful move would be for Apple and Google to roll back their encryption to the level of a year ago to enable access to smartphones with a warrant or court order.

"It worked very well, but Apple somewhere along the line decided it didn't make business sense," he said, adding that tech firms are conscious of their public image and don't want to be seen as tools of law enforcement or the National Security Agency.

At the same time, he said, in New York "there are more than 100 investigations stopped in their tracks because there are phones that can't be analyzed. These are murderers, rapists, pedophiles who are not being prosecuted."

Hayes said that in the current environment, tech firms are not likely to voluntarily make changes to help law enforcement.

"The only way they would be persuaded is through legislation," he said.

Read more:  http://www.dailymail.co.uk/wires/afp/article-3357166/Data-encryption-sha...

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Publishers Weekly: "Children's Publishing in China: Highlights from the First GKC China Deep Dive"

12/09/2015

Publishers Weekly: "Children's Publishing in China: Highlights from the First GKC China Deep Dive"

Xiaoyan (Renee) Huang at the half-day China Deep Dive intensive. Photo credit: Sandra Price

Children’s books play a leading role in the fragmented and state-controlled publishing industry in China, and titles in translation are an important part of the mix, according to speakers at an intensive half-day China Deep Dive sponsored by Publishers Weekly and the Bologna Children’s Book Fair. The event took place in association with the inaugural Global Kids Connect Conference in New York City, and was hosted by Pace University’s M.S. in Publishing Program and its chair, Professor Sherman Raskin.

Read more: http://www.publishersweekly.com/pw/by-topic/childrens/childrens-industry-news/article/68894-children-s-publishing-in-china-highlights-from-the-first-gkc-china-deep-dive.html#path/pw/by-topic/childrens/childrens-industry-news/article/68894-children-s-publishing-in-china-highlights-from-the-first-gkc-china-deep-dive.html

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