Book Ledger

A clinic for people seeking refuge in the past, and a meditation on the danger of turning nostalgia into a political program. Invested in Welltower (WELL), a healthcare REIT.

Allegheny Technologies (ATI) for shape-memory and specialty metal alloys feeding next-generation drones, aerospace, and naval propulsion. Defense budget tailwinds and a U.S. Naval Nuclear Propulsion partnership underwrite the thesis.

Vertex Pharmaceuticals for the acquisition of foundational Green Fluorescent Protein (GFP) technology which led to their successful cystic fibrosis therapies.

Compass Pathways (CMPS) for psilocybin-assisted treatment of depression, the dreamsnake's hallucinatory venom mapped to psychedelic-assisted therapy.

In vivo CRISPR as the dawn of personalized self-replicating biological medicine. NTLA (Intellia) as primary position.

Reviewed Battle Road Digital, Havik VR, and Scale AI. Declined trade — trend is toward AI operations replacing human training simulation, not alongside it.

Kyverna Therapeutics (KYTX) for CAR-T immune reset in autoimmune disease — the vampire venom-to-medicine pipeline made literal.

Kraken Robotics (KRKNF) for subsea battery and sonar technology. Also reviewed sea silk, seaweed-to-ethanol, and sodium-ion batteries.

Brain-computer interfaces and neuromodulation for treatment-resistant depression. Reviewed Muse, NeuroPace RNS, SAINT, and rtfMRI-NF. No public equity play identified.

A meditation on books as essential shelter in uncertain times. No investment thesis.

AI as administrator for immortals — a lens on LLM dependency and the coming power gap between those with and without advanced AI access. No trade made.

Octopus cognition and the limits of intelligence as a concept. No tradeable thesis emerged.

Near-future AI and alternate-timeline fiction. No actionable investment thesis derived.

A darkly comic look at biodiversity credits and extinction as a tradeable commodity. No investment made — no publicly listed proxies found.