Karsan Value Funds: 2022 Q4 Results

Karsan Value Funds (KVF) is a value-oriented fund, as described here. Due to securities regulations, the fund is not open to the public at this time. Should that change in the future, there will be an announcement on this site.

For the fourth quarter ended December 31st, 2022, KVF gained $7.58 per share, increasing the value of each share to $47.11. This 22% pre-tax return trounced the mid-single-digit returns generated by the S&P 500, Russell 2000 and S&P/TSX indices. Currency gains helped returns by $0.29 per share in the quarter.

How The World Really Works

There's a lot of stuff out there about how we're on the verge of a climate disaster and therefore must stop all new fossil fuel projects. But it would also be a disaster if we stopped extracting this energy source as well. So says Vaclav Smil in his new book How The World Really Works

The End of the World is Just the Beginning

I take all predictions with a grain of salt, especially so when the predictor is so confident in his assertions. Predicting the future correctly is extremely difficult, and to do so without the requisite humility is a giant red flag. So I had a hard time getting through The End of the World is just Beginning.

The Eagle and the Viper

Following the French Revolution, Napoleon sought to conquer more lands. But fans of the French monarchy would not go quietly. From England and elsewhere, they plotted to have France's leader assassinated so that another Louis could be crowned in his stead. This was the backdrop behind the novel The Eagle and the Viper

Corruptible

We wonder why our leaders are often such terrible people. Everybody knows that "Power Corrupts", but there's much more to power's effect on society, as explained in Brian Klaas' Corruptible

Karsan Value Funds: 2022 Q3 Results

Karsan Value Funds (KVF) is a value-oriented fund, as described here. Due to securities regulations, the fund is not open to the public at this time. Should that change in the future, there will be an announcement on this site.

Ways and Means

The US Civil War was a big deal. The violence, the effect on families, and the eventual emancipation of the slaves are the oft-discussed themes. But the financing of the war played an underrated role in determining not only the winner but the trajectory of the country following the surrender. In Ways and Means, author Roger Lowenstein describes the money situation for both sides during the war, and does so without making it boring!