Creative Capital Archives - Pittsburgh Quarterly

Creative Capital Money Opinion

What’s Ahead in the Second Half for Markets? Pt. III

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?” Previously in this series: What’s Ahead in the Second Half for Markets? Pt. II MATTHEW …

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Creative Capital Money Opinion

What’s Ahead in the Second Half for Markets? Pt. II

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?” Previously in this series: What’s Ahead in the Second Half for Markets? ERIC BOUGHNER, BNY …

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Creative Capital Money Opinion

What’s Ahead in the Second Half for Markets?

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 …

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Creative Capital

No Country for Old Men

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 …

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Creative Capital

Death of the Famous Airman

“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 …

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Creative Capital

Hotel on the End of the World

“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 …

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Creative Capital

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 …

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Creative Capital

All’s Well that Ends…

“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 …

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Creative Capital

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 …

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Creative Capital

It Takes a Village (To Move All That Gold)

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) …

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Creative Capital

Goldie, Part III

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 …

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Creative Capital

The Routine of Gold

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 …

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Creative Capital

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, …

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Creative Capital

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

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, …

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Creative Capital

Touring with the Big Shots

The typical family unit on my tour was a mom, a dad, and a 17-year-old kid who was a prospective student. But one day an unusual unit showed up – a kid and his gorgeous older sister. Well, well, well, I thought. Previously in this series: How Not to be a College Guide The third …

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Creative Capital

How Not to Be the College Guide

As a scholarship boy I was expected to get a summer job, save lots of money, and apply it to my tuition for the fall semester. Except nobody was hiring. It was now late in my sophomore year and I scurried over to the Financial Aid office to let them know my summer job prospects …

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Creative Capital

And the Winner is…Us (The U.S.)

“There seems to be no sign of intelligent life anywhere.” — Buzz Lightyear Last week we looked at countries that are likely to suffer the most as America abandons its role as world cop. This week let’s take a look at countries which are likely to fare best. Previously in this series: China’s Future ProblemsBut remember …

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Creative Capital

China’s Future Problems

“This is an intergalactic emergency!” Buzz Lightyear I could devote several months of essays to the question of how and why America became so divided and how and why we lost the stomach for maintaining the global paradise we so painfully created and maintained for so long. But what’s the use? It is what it is. …

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Creative Capital

Goodbye to All That

“Because of YOU, the future of this entire universe is in jeopardy!”- Buzz Lightyear The period after World War II was essentially a human paradise. It wasn’t perfect, of course, but compared to any other period in human history it was as close to paradise as mortal humans could ever have expected to experience. Naturally, it …

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Creative Capital

To Greatness – and Beyond!

“To infinity – and beyond!” – Buzz Lightyear With thanks to Buzz Lightyear, let’s take a look, first, at the astonishing world America created after World War II, and then we’ll watch as that world crumbles and re-forms into the dystopian future we are hurtling toward. Late last year I wrote a series of essays in …

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Creative Capital

The Surprising (Sad) Ending

I sometimes write about investment matters or geopolitical issues, but mostly these essays are pieces of fluff designed to entertain or, I hope, amuse my readers. But this series will end on a sad – even a tragic – note. Previously in this series: Favorite Drinks & Pittsburgh LoreThe Rainbow Room I started my company, …

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Creative Capital

Favorite Drinks & Pittsburgh Lore

Hot buttered rum Since temperatures are plunging as I write this series, I cheerfully pass on to you The Oxford Companion to Spirits and Cocktails (TOCSC) recipe for hot buttered rum: mix one cup of softened, salted butter, 1 teaspoon cinnamon, ½ teaspoon nutmeg. This will keep in the refrigerator for a long time. When your fingers are …

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