A Crack in Everything

A Crack in Everything: How Black Holes Shine by Marcus Chown is an engaging dive into the mysterious world of black holes, crafted for the lay reader.

G-Man: J. Edgar Hoover and the Making of the American Century

In Beverly Gage's Pulitzer Prize-winning biography G-Man: J. Edgar Hoover and the Making of the American Century, we get an unflinching look at one of the most powerful figures in U.S. history. Hoover, who led the FBI for nearly five decades until his death in 1972, transformed a modest Bureau of Investigation into a formidable national security apparatus. But as Gage meticulously details, this rise came at a steep cost: rampant surveillance, political blackmail, and the erosion of civil liberties, all in the name of protecting "American values."

Karsan Value Funds: 2025 Q2 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.

Patriot

Patriot is the memoir of Alex Navalny, the now-deceased opposition leader to Vladimir Putin. He dedicated his life to exposing corruption in Russia, and paid the ultimate price for going against those in power.

Karsan Value Funds: 2025 Q1 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.

Everything is Predictable

Tom Chivers' book Everything is Predictable is a fantastic dive into a formula known as Bayes' theorem. A book about a formula sounds extremely boring, but its application is extremely useful in everyday life.

Trusting in Claros Mortgage

• Claros Mortgage Trust trades at an 80% discount to book value, despite a more measured decline in book value per share.
• The company's high debt level amplifies the impact of asset write-downs on equity value, contributing to the stock's decline.
• Management's expertise and low exposure to troubled office space, along with a focus on multifamily projects, offer some stability.
• The recent dividend cancellation likely caused a non-financial share price drop, presenting a potential buying opportunity for undervalued shares.

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