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Three Simple Questions on the Markets, Part I

We asked a group of the region’s leading wealth managers to pen a response to three questions about the markets and how they approach current conditions. Here are their responses to the first question: Since the election of Donald Trump, stock markets have soared and the confidence of consumers and…

Three Simple Questions

Each year in our Summer issue, we ask a group of the region’s leading financial experts to help our readers by responding to a question. This year, we’ve asked three. The first batch of the questions and answers follow.

Capital Preservation Paul, Part VII

Well, the best-​laid plans…I’d intended to interview the contestants in our little investment contest to get their take on the markets and on how well or badly they, personally, had navigated the various challenges those markets had offered. I was especially interested in what, if anything, the contestants had learned.…

Capital Preservation Paul, Part VI

Bull Markets and Bear Markets are such momentous events that they tend to fixate investor attention to the exclusion of more important matters. Most people, for example, would define a “market cycle” with reference to Bulls and Bears.

Capital Preservation Paul, Part V

So far in our increasingly exciting investment contest, it’s been a positive experience all around. For the first three years the capital markets rose relentlessly: a modestly positive first year followed by two terrific Bull Market years. But things are about to change.

Capital Preservation Paul, Part IV

Last week we observed how our investment competitors fared as they navigated a boring, so-​so market environment. But this week things get more interesting.

Value Investing: Putting Time on Your Side

“All things excellent are as difficult as they are rare.” Throughout my 17 years watching markets and investing on behalf of high-​net-​worth individuals, families and organizations in the Pittsburgh area, I’ve never found this quote from legendary investor Benjamin Graham to be more appropriate.

Capital Preservation Paul, Part III

Last week we asked Mr. Market to establish the playing field for our investment contest. This week we’ll check in to see how our contestants are faring.

Capital Preservation Paul, Part II

On the last day of March, we launched our own, far more interesting version of March Madness, namely, an investment contest. Our contest features the Investing Final Four, that is, the four main kinds of investors I’ve encountered in a long and checkered career in the financial advisory business. But…

Capital Preservation Paul

I’ve been in the business of advising wealthy families for 40 years. (Actually, it’s been longer than that, but I’ve reached the age where everything gets rounded down.)

Local Artists: Struggling, But Not Starving

Most Pittsburgh artists are getting by financially but find it difficult to make a living off of their art alone. And African American artists are much less likely than their white counterparts to rely on their art as their sole means of support, according to recent survey.

China: The New Normal

“All is flux, nothing stays still.” –Heraclitus (540480 BC). China in 2017 only vaguely resembles the China I described in a 2006 overview for Pittsburgh Quarterly. Few countries have ever changed so much in such a short period. Sit back, because it is time to rethink what you need to…

Aftermath of a Strike

When Melia Tourangeau joined the Pittsburgh Symphony Orchestra as President and CEO in July 2015, she immediately faced a problem she hadn’t anticipated: massive debts from a nearly insolvent pension program. Last fall, the PSO endured a 55-​day strike that ended when two donors made one-​time gifts and musicians agreed…

The New Apartment Dweller

East Liberty-​Shadyside is the epicenter of Pittsburgh’s new apartment wave, featuring both Bakery Living and the three-​building Mosites Co. complex known as Eastside Bond. Together, these developments, only a stone’s throw apart, have introduced more than 700 rental units over the past few years.

Real Estate Tug of War

The holiday revelers, about 150 strong, gathered at East End Brewing Company to enjoy a different sort of Christmas celebration, neither family gathering nor office party. Rather, this soiree was hosted by Walnut Capital for the tenants of its trendy Bakery Living apartment complex at Bakery Square in Shadyside.
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