Money Archives - Pittsburgh Quarterly

What’s Ahead in the Second Half for Markets? Read More »

Editor’s note: We asked a group of leading Pittsburgh-area wealth managers to give their answers to this question: “So far, 2026 has been treacherous for investors. What do you expect for the second half and where do you see opportunity?” DAMIAN MCINTYRE, FEDERATED HERMES Investor outlook in 2026 has been shaken repeatedly by conflicts and …

Business Profiles

Doing Business with People

by Steve Breuner

It was a couple summers back, when I was sitting down the third base line at PNC park, that my thirst finally won. I had made it through three toasty innings, but now it was time for a frosty draft beer. As I worked my way from the outfield to home plate, I passed four …

Doing Business with People Read More »

Steering through Chaotic Markets

Steering through Chaotic Markets Read More »

Editor’s note: We asked a group of leading Pittsburgh-area wealth managers to give their answers to two questions facing investors. Each expert answers one of the questions below. Question 1: The Trump Administration’s often-chaotic tariff policies have caused a significant decline in U.S. stocks. Should investors lighten up on stocks in anticipation of more turmoil, …

Books Business

Changing the American Dream

by Chris Allison

Francis Ford Coppola’s epic, “The Godfather,” begins with the line, “I believe in America.” The film chronicles the tragic story of the Corleone family and their twisted version of the American Dream. It characterizes our national ethos by believing anyone can attain their version of societal success, regardless of where or into which class they …

Changing the American Dream Read More »

The Reality of AI

The Reality of AI Read More »

Editor’s note: ( We asked leading wealth managers: Is AI real or hype? If it’s real what’s the best way to invest in its success? Their answers follow) James Armstrong, Henry Armstrong AssociatesAI certainly has been hyped to an extreme in recent times. However, it is real, and there will be areas where it will …

No Country for Old Men

No Country for Old Men Read More »

Every advanced society struggles with the problem of how to provide the best and most advanced healthcare to the greatest number of people without bankrupting the economy. It’s a legitimate problem but it’s one that is being handled abysmally by most of the developed world. Previously in this series: Death of the Famous AirmanConsider two …

How Long Will the Magnificent Seven Last?

How Long Will the Magnificent Seven Last? Read More »

(Editor’s note: We asked leading wealth managers: Will the magnificent 7 technology stocks continue to lead the market going forward? Their answers follow.) Win Smathers, Shorebridge Wealth Management I wouldn’t bet against the tech juggernauts continuing to lead the broader market despite having extended valuations. These seven names; Meta, Amazon, Nvidia, Microsoft, Alphabet, Apple and …

How High for CPI and Why?

How High for CPI and Why? Read More »

(Editor’s note: these answers were submitted in April.) Greg Curtis, Greycourt I can’t pinpoint the exact number but the CPI will be above the Fed’s long-term target of 2%. Even if the US economy slows down – a big if – the wealth effect from stock market appreciation and continued spending by more affluent households …

Death of the Famous Airman

Death of the Famous Airman Read More »

“If I take the wings of the morning and dwell in the uttermost parts of the sea, even there shall thy hand lead me.” Psalms 139: 9-10, the words Charles Lindbergh chose to be engraved on his tombstone Early in the morning of May 23, 1927, Charles Lindbergh climbed into the Spirit of St. Louis, a modified …

Hotel on the End of the World

Hotel on the End of the World Read More »

“Is. This. Ever. Going. To. End?” — Everyone who ever drove the Hana Road I hadn’t even thought about Hawaii for six months and had no intention of ever thinking about it again. But then my phone rang. Previously in this series: Lucky LindyMy boss said, “I can’t tell you how happy I am that we …

Peering into the Future

Peering into the Future Read More »

1: Is Artificial Intelligence (AI) real or hype? If it’s real, what’s the best way to invest in its success? Linda Duessel, Federated Hermes AI isn’t hype but a revolution, reminiscent of the internet a quarter of a century ago. Technological advances across all industries will drive productivity in the next decade — great news …

Lucky Lindy

“Hi there big guy.” — Hawaiian Princess Kumonaywonalaya At one point in my career I ran a family office for one of the world’s wealthiest families. When I joined the family office I knew – vaguely – that the Family (as I’ll call them, capitalized) was a major owner of property in the Hawaiian Islands. I …

Lucky Lindy Read More »

All’s Well that Ends…

All’s Well that Ends… Read More »

“You should be kissed often, and by someone who knows how.” Rhett Butler It seemed that everything had been taken care of at the Zurich Cantonal Bank and that we were home free. But I’d overlooked one crucial item. Previously in this series: Switcheroo!After Dr. Brenner and I had shaken hands with the bank officials and …

Switcheroo!

The best laid schemes o’ mice an’ men / Gang aft a-gley. Robert Burns We were parked at a service plaza on Route 3, just inside the Zurich cantonal border, and Dr. Brenner had gotten an urgent message to call his office. Now he and I were standing in the parking lot a ways apart from …

Switcheroo! Read More »

It Takes a Village (To Move All That Gold)

It Takes a Village (To Move All That Gold) Read More »

My client, Goldie, had spent many annoying decades conducting gold inventories in remote Swiss villages, and now I’d just been informed that it had been totally unnecessary. Previously in this series: Goldie, Part III“But … but …” I said. The Pictet partner explained that while the army’s original strategy (to pull back into the mountains) …

Goldie, Part III

Goldie, Part III Read More »

No military plan survives the first contact with the enemy. von Moltke the Elder I’m describing how a lawyer conducts a gold inventory, just in case some of my readers might need help with their bullion in the future. Previously in this series: The Routine of Gold After we completed the inventory at the little bank …

The Routine of Gold

The Routine of Gold Read More »

When Goldie asked me to conduct the gold inventory for her, I’d simply assumed that her gold was stored in the vast vault under the Credit Suisse headquarters building on the Bahnhofstrasse in downtown Zurich. After all, she’d been a good customer of the bank for decades. Previously in this series: GoldieI’d planned to walk …

Financial Literacy: What’s it Worth?

Financial Literacy: What’s it Worth? Read More »

Editor’s note: We asked a group of local financial leaders to weigh in on this question: How important is increasing financial literacy among our society and your potential customer base and what programs do you have to educate citizens in making responsible financial decisions, whether on mortgages, insurance products, loans, investments or savings? VINCENT …

Goldie

“The Golden Rule: She who has the gold makes the rules.” The Wizard of Id (paraphrased to modify the gender) Quite some years ago I had a remarkable client I’ll call Goldie. Goldie was then in her late sixties and looked exactly like a lady in her late sixties: gray hair pulled back in a bun, …

Goldie Read More »

The Origin of the World (and the End of the Tours)

The Origin of the World (and the End of the Tours) Read More »

Being the college guide sounds fairly straightforward, but in fact the job was full of pitfalls – landmines in every direction. The first pitfall arose out of the fact that I could never know who was going to be on my tour. It might be sensible people who thought the Orozco murals should be nuked, …

Touring with the Big Shots