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Apollo Management's Marc Rowan: 'The Best Returns Follow Chaos'

Knowledge@Wharton -- Marc Rowan, founding partner of Apollo Management, one of the world's largest private equity investment firms, makes it sound simple: Stick to the fundamentals -- that is, buy a good business at a low price -- and you ultimately will see returns. Of course, identifying those businesses is the challenge. Rowan, who was in mergers and acquisitions at Drexel Burnham Lambert before starting Apollo, sp...     11-12
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Efficient Markets or Herd Mentality? The Future of Economic Forecasting

Knowledge@Wharton -- Once on the academic fringes, behavioral economics has been gaining considerable ground over the past year. While not all economists, government policy makers and corporate financiers agree wholeheartedly with behavioral economists' assertion that markets are inefficient and irrational, it's difficult in the wake of the global financial meltdown to be too dismissive of it, according to some Wharto...     11-12
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Avoiding the Agony of a 'Bogey': Loss Aversion in Golf -- and Business

Knowledge@Wharton -- Tiger Woods and other golf superstars who stand to win millions on inch-long putts apparently are subject to the same fear and aversion to risk that can afflict investors and managers. According to new research by two Wharton faculty members, even the best golfers systematically miss the opportunity to score a "birdie" -- when a player sinks a ball in one stroke less than the number of e...     11-12
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CEO Terry Lundgren: Turning 'My Macy's' into Your Macy's

Knowledge@Wharton -- Terry Lundgren's experiences in retailing a generation ago recently led the Macy's CEO to come up with a new vision for how to organize the company's more than 800 stores. The concept, known as 'My Macy's,' calls on buyers and executives to focus on a small number of stores in a specific metro area as a way to offer customers more localized, personalized service. During a recent presentation at Wh...     11-12
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Fit for the Holidays: Amazon Is Shaping Up and Shipping Out

Knowledge@Wharton -- Amazon.com enters the holiday shopping season with enviable strength. The financials at the world's biggest online retailer are looking better than ever while it is finding new ways to muscle in on the competitive advantages traditionally enjoyed by conventional bricks-and-mortar retailers -- including its recent launch of same-day shipping in seven major U.S. cities. But as Amazon grows, competit...     11-12
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