Money Archives - Page 16 of 27 - Pittsburgh Quarterly

Creative Capital

Spitting Into the Wind

The first blogging software hit the market in 1999, but it was a technology in search of a use. I never even heard the word “blog” until the early 2000s, and didn’t focus on it until, in 2004, the Merriam-Webster Dictionary selected “blog” as the Word of the Year. (It’s a truncation of “web log.”) Even then …

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Allen Newell: The Lone Ranger

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the School of Computer Science as well as the Silicon Valley campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. After succumbing to Alan Perlis’s …

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Creative Capital

The Dear John Letter (to your Financial Advisor)

For many people, the worst part of the process of terminating an advisor happens at the very end, when you finally have to tell the guy the relationship is over. Think about that love affair that just wasn’t right. You knew that he/she was wrong for you, but actually breaking off the relationship filled you …

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Robert Taylor: Demanding Coach

by James H. Morris

James H. Morris is a retired professor of computer science and dean of the West Coast campus of Carnegie Mellon University. In a series of blogs for Pittsburgh Quarterly he writes about some of the computing pioneers he encountered during his career. As I struggled with the rigors of being an assistant professor at University …

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Creative Capital

Firing Your Financial Advisor, Part III

Now that we know why we’re going to fire our financial advisor, let’s talk about when to do it. Obviously, if any of the issues I detailed in my last post are operating, the time to fire your advisor is ASAP. But even if no hot-button issues have raised their ugly heads, that doesn’t necessarily mean that all is …

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Alan Perlis: The First Computer Scientist

by James H. Morris

I was a teenager in 1957 when the Russians launched Sputnik. In the national reaction to it I was inspired to pursue science. I was all set to go to the Massachusetts Institute of Technology or the California Institute of Technology to become a physicist, when the Carnegie Institute of Technology offered me a full …

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Creative Capital

Firing Your Financial Advisor, Part II

If you Google “Should I fire my financial advisor?” you will land on a lot of brain-dead articles. If any of the reasons listed in those articles apply to your financial advisor and you haven’t fired him, you’re probably hopeless. But in the interest of comprehensiveness, let’s take a quick look at reasons to fire your advisor right …

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Creative Capital

Firing Your Financial Advisor

“You’re fired!” – Donald Trump. The incredible—and incredibly long—bull market in both stocks and bonds that has persisted since the end of the Global Financial Crisis is now teetering. Whether or not the market bloodbath that occurred in October continues, the bull will in fact come to an end one of these days. When that …

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Creative Capital

On Children’s Literature

“Why do we give children the illusion of a world that doesn’t exist and which all their lives they will compare with a harsh reality?” –Georges Simenon A few weeks ago I published my 300th post since I launched the blog back in 2013. In recognition of this dubious anniversary I’m going to talk about …

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Creative Capital

Why We Don’t Take Our Meds: The Conclusion

“If you torture data long enough, it will confess anything.” –Nobel Laureate Ronald Coase “[Medical] science is really hard to turn around. People get emotionally invested, financially invested, professionally invested.” –Dr. Jonathan Moreno, Professor of Bioethics, University of Pennsylvania Last week I pointed out that a ridiculously expensive drug ($15,000/year) that had to be taken …

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Creative Capital

No More “Bad Cholesterol”? Not So Fast…

Men occasionally stumble over the truth, but most of them pick themselves up and hurry off as though nothing had happened – Winston Churchill It was mid-2015 and I knew I was in trouble as soon as I walked into my doc’s office – he was grinning from ear to ear and waving a piece …

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Creative Capital

The Heart Cholesterol Complex

It is difficult for a man to understand something when his income depends on his not understanding it. H.L. Mencken About the time World War I was breaking out in Europe, doctors conducting postmortem exams on heart attack patients discovered that those patients’ coronary arteries were gunked up with cholesterol. “Aha!” said medical science, “People …

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Creative Capital

The Really Horrible Versus the Ordinarily Horrible

By “PVCs” I don’t mean the stuff they make pipes out of. I mean “premature ventricular contractions.” When people have heart attacks, especially serious ones, heart muscle dies and turns into useless, deadweight scar tissue. To make matters worse, hearts that are pocked by scar tissue conduct electrical waves very differently than hearts that are …

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Creative Capital

How Many Heart Beats Do You Want?

So there I was, at the end of April 2015, off all my prescription meds. (I still took a baby aspirin and a multivitamin, don’t ask me why.) I was feeling great and knew I needed to exercise, but knowing and doing are two very different things. Before my heart attack I had a very …

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Creative Capital

Who Says There’s Really “Prediabetes”?

I want to launch this post with a disclaimer—don’t do what I did. On the other hand, the usual advice—consult with your physician—might be even worse, for the reasons I’ll get to. After my 2015 stress test (described in last week’s post) I had a very depressing follow-up call with my doc. “Your ejection fraction …

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Death Becomes Her

by Elizabeth Wiethorn

“Why?” is the obvious question: dead bodies of all ages (arriving daily), grieving families, being surrounded by sadness and despair, not to mention dealing with the more unseemly but necessary “physical” aspects of the job. As a family business—sure, that makes sense—family pressure can go a long way, and there is no shortage of customers, …

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Creative Capital

My Eureka Moment

So there I was in early 2015, six months after my heart attack and open heart surgery, taking 12 meds and being urged to add another two to the regime. Instead of rebelling, I was Mr. Goodpatient, passively doing whatever I was told, however insane it seemed. When you’ve had a heart attack, one of …

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Creative Capital

Why We Don’t Take Our Meds (Again)

Recently, two journalists (Tim Harford and Simon Kuper) working for the Financial Times of London attended the FT Weekend Festival. The topic of their onstage conversation was “the nightmare of writing a weekly column.” Tell me about it. I don’t know about Harford and Kuper, but when I’m stumped for a subject to write about …

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Creative Capital

Fed Folly and its Practical Effects

“The… task of economics is to demonstrate to men how little they really know about what they imagine they can design.” –Friedrich von Hayek Adam Smith was the first to name the “the invisible hand” so felicitously, but he was hardly the first to notice the existence of such a phenomenon. The idea of an …

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Creative Capital

The Red-Tape Fed

The long and deep recession of 1930–33 finally ended in March of 1933. Once it ended, the Fed, believing that the economy could now—and should now—fend for itself, backed off. The result was one of the most powerful economic expansions in U.S. history, an expansion that lasted three decades. The short and shallow recession of …

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The Working Life

by Madison Nicole Snyder

Work is a fact of life for nearly 1.2 million southwestern Pennsylvanians. Some love what they do; others, not so much. Either way, work consumes a healthy share of their time and energy. Their weeks are structured around it. It’s what puts money in their pockets. What do Pittsburghers think about their jobs? Pittsburgh Quarterly’s …

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Creative Capital

The Fed’s Act of Cowardice

We are talking about America’s Monetary Keystone Kops, who have, since 1987 (when Greenspan became chair of the Federal Reserve), been masquerading as central bankers. (Or maybe it’s the other way ‘round, it’s hard to tell.) The Fed’s finest hour was saving Bear Stearns while wiping out its equity holders and senior management—that is, the …

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