Responsible Investing

We are observing how one of the world’s most successful investors—the New Zealand Super Fund—manages its capital, and considering whether we might not mimic some of what the Fund has been doing. The idea is to improve our own returns both on an absolute basis and on a risk-adjusted basis. Here are two more strategies …

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Andy Warhol Returns to Pittsburgh

On an autumn evening in Pittsburgh 40 years ago, a larger than usual, fancier than typical, and more expensive than ever event was staged as an acquisition benefit for the Carnegie Museum of Art. On this special Saturday night, 250 formally dressed ladies and gentlemen entered the Heinz Galleries to find a simply decorated space …

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For Southwestern Pennsylvania, a Few Reasons to Be Thankful

In the Thanksgiving tradition of reflection and expressions of gratitude, here are a few trends that have raised the quality of life a bit in southwestern Pennsylvania, which is always a reason to be thankful. The region has enjoyed a run of low unemployment this year, as has the nation as a whole. More people …

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Immigration Is Still Our Greatest Asset…

Each time Thanksgiving rolls around, I can’t help but recall my family’s humble arrival to these shores and the impact they had upon their adopted homeland. My First People came to this country as scorned refugees not knowing a word of the native language. In fact, they arrogantly refused to speak anything other than their …

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Unemployment Unchanged; Remains Low in Region

The Pittsburgh region’s unemployment didn’t budge from October 2018 to October 2019, but plenty is changing in the region’s economy. Metropolitan Pittsburgh’s seasonally adjusted unemployment rate stood at 4.1 percent in October, unchanged from October 2018, according to data from Pennsylvania Department of Labor and Industry. The national unemployment rate last month was 3.6 percent. …

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Back to Quack—Steelers Soar in Comeback Win

What a strange year it has been. In a season they’ve been down at halftime to two separate winless opponents, the Steelers currently occupy a playoff spot. Their quarterback is an undrafted rookie, their most valuable player a safety that wasn’t on the opening roster. Sunday’s 16 – 10 victory wasn’t without its struggles. Then …

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Are You Really Able to Think and Act Long Term?

Investing like the New Zealand Super Fund is surprisingly easy—in concept. In practice, of course, it’s devilishly difficult. Otherwise, we’d all be rich. To see why this is the case, let’s examine some of the key features of the Super Fund’s investment approach. Thinking and acting long term. We pointed out last week that merely …

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Pathway to Pain

I’ve always been enchanted by the idea of a days-long hike—to head off into the woods with nothing but a pack and the possibility of adventure, much like Bill Bryson in my favorite book, “A Walk in the Woods.” But with two kids and crazy soccer schedules, I really can’t afford to take six months …

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The Urban Deerhunter

Every July, along deer trails in pockets of forest in and around the city of Pittsburgh, Dan Krivanek and his buddies hang a bevy of camouflaged infrared LED hunting cameras in the crooks of trees. They also strew cut up apples and feed corn. Then, back in his Bridgeville borough home a few miles away, …

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Job Growth Declines, Bucking Recent Trends

After several years of steady, if tepid, employment growth, the Pittsburgh region lost 3,000 jobs over the latest 12-month period reported by the U.S. Bureau of Labor statistics. From October 2018 until October 2019, overall job growth declined by .25 percent in the seven-county Pittsburgh Metropolitan Statistical Area. “It’s a quarter of a percent, but …

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City Parks Fell Short in Funding Until Voters Said OK to New Tax

When City of Pittsburgh residents voted to raise their property taxes to support public parks earlier this month, they chipped away at a major obstacle to the city park system being rated as one of the best in urban America. Voters in November approved a referendum for a .5-mill property tax increase for capital improvements …

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It’s This Rain

Looking out the window of my sixth-grade classroom following noon recess, it seemed as if the entire St. Michael’s School playground was going to float away in the chill, driving rain that had been falling steadily in Indianapolis since early morning. It was a slow Friday in late November, the week before Thanksgiving vacation, and …

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An Answer from Abroad

If southwestern Pennsylvania is going to pull out of its long population slump, it’s likely going to happen with people like Khara Timsina. He arrived in Pittsburgh 10 years ago, one of fewer than 300 Bhutanese refugees resettled from camps in Nepal, where they had lived after being driven from their homeland during a period …

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The Economics of Population

Last spring, the U.S. Census Bureau released data showing that the City of Pittsburgh and Allegheny County once again lost population. In what has become a ritual, public officials were pressed by reporters to respond. County Executive Rich Fitzgerald suggested not reading too much into the latest of a long string of down years. Pittsburgh …

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Protecting the Parks

The flat-headed, mucus-covered salamander recently named Pennsylvania’s state amphibian goes by many names: snot otter, lasagna lizard, devil dog, mud-devil, grampus, Allegheny alligator. Most commonly, however, they’re known as the Eastern hellbender. The big, slimy amphibians are found under large, flat rocks in Pennsylvania’s fast-moving rivers and streams, such as the Youghiogheny River. They rarely …

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Where Nature and History Collide

Here are a few state parks in Pennsylvania that offer nature at its most dramatic and some history of what life was like long before barcodes, internet and smart phones. McConnells Mill The park wraps around a restored 19th century gristmill that ground buckwheat, oats and corn with the force of the wild stretch of …

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The Steelers, the Browns and the Uglies

Yeah, that happened. Week 11 had its fair share of quality football, but all eyes were on the helmet swinging fiasco in Cleveland. The Browns took down the Steelers 21 – 7 on Thursday night. Ultimately, it’s hard to see how anyone came away as winners. Steelers Corner By now, it’s been discussed and dissected …

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Invest Like the Super Fund

“Hi, I’m Joe and I just turned eight. I love playing with my Grandpa. Grandpa always has time to play with me. He says that’s because he is retired and gets his ‘super’ or pension payments from the Government.” —New Zealand Super Fund Explained (from a short animation on the Super Fund website explaining the …

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Leslie Odom Jr. Performs at The Pittsburgh Promise Gala

On Saturday, November 2, 2019, Tony and Grammy Award-winning performer Leslie Odom Jr. performed at The Pittsburgh Promise’s gala, F.N.B. Corporation Presents: A Night of Promise. Odom and his band delighted the crowd with a mix of cover songs, “Hamilton” hits and original material. A Night of Promise took place at the Wyndham Grand Pittsburgh …

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Short Takes: “The Secret History of KGB Spy Cameras,” “Threads Around the World”

Deep in a secret location cloaked by trees and rolling hills—well, to be precise, inside a home in the leafy suburb of Upper St. Clair—exists a notable collection of Soviet spy equipment. It belongs to Michael M. Hasco, a former Heinz executive whose interest in photography blossomed into full-fledged expertise in the history of espionage …

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An Uncommon Life in an Ordinary Place

It would be a shame if this strange and glorious book set in Greene County becomes pigeonholed as “a voice from the heartland” or “a rare glimpse inside the Other America.” Sarah Elaine Smith, a Greene County native now living in Pittsburgh, has surely drawn on observed experience for her first novel. But the Carnegie …

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Stuck in Traffic

Motorists in the Pittsburgh Metropolitan Statistical Area spent nearly two days of their lives sitting in traffic in 2017, according to new data from the Texas Transportation Institute. Overall, annual delays per traveler on local roads rose from 39 hours in 2014 to 46 hours in 2017, an increase of 18 percent. Still, delays in …

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