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Yet, within this disquieting drama, a shrewd investor—one who views the market not as a gambling den but as a theater of opportunity—may discern a most agreeable prospect. To ‘double down,’ as the commoners say, or, for the uninitiated, to purchase more of a stock when its price has fallen, is a strategy fraught with peril, yet occasionally rewarded with substantial gain. I find such an opportunity presented by two companies, Automatic Data Processing and Kimberly-Clark, both of whom, despite their current disfavor, possess the virtues to delight a discerning shareholder.

The ninety-eighth ceremony of the Academy, a glittering spectacle broadcast from the very heart of Disney’s empire on ABC, proved a humbling affair. A single Oscar, a small, burnished echo of past triumphs, landed in their possession – a recognition for the visual artistry of Avatar: Fire and Ash, a film that conjured worlds of impossible beauty, yet felt distant, a dream remembered rather than lived. It was a curious prize, a solitary bloom in a field of rivals, particularly when Warner Bros. Discovery, led by the ascendant fortunes of One Battle After Another and Sinners, claimed the lion’s share of the golden men. Even Netflix, that restless spirit of streaming, amassed a collection seven times greater, a digital hoard that shimmered with the promise of disruption.

Nvidia, Oracle, Broadcom, even Palantir – they’ve all been reporting numbers that suggest the AI gold rush isn’t entirely a mirage. Which is good, because mirages don’t pay the bills. And now, on the 18th of March, Micron Technology (MU +5.25%) is due to present its own accounting. It’s a bit like waiting for the Guild of Alchemists to reveal whether they’ve finally turned lead into something useful, or just a slightly shinier shade of grey.

This wasn’t a gradual easing out, mind you. No polite little sell-offs. It was a complete and utter desertion, declared in a document filed with the SEC. They’d held 6.0% of the fund’s ‘AUM’ (a peculiar little acronym for ‘Assets Under Management’ – sounds like a witch’s brew, doesn’t it?) but now? Gone. Poof. Like a magician’s rabbit. Norwegian Cruise Line is no longer on their shopping list.

The stock’s been doing alright. Up a good bit. 729% in three years. 345% in the last twelve months. Numbers. They’re just numbers, really. A fleeting impression of value in a universe that doesn’t much care about value. Still, people bought it. A lot of it.

According to the predictably tedious filings with the SEC, Eversept’s little spree occurred in the fourth quarter. The total value of their holdings in Vera has, as a result, swelled to $73.99 million. Not a fortune, certainly, but enough to keep a small nation afloat, or at least fund a rather lavish cocktail party.

The filing, dated February 17th, showed Eversept adding to their position in Avantor. A significant chunk of change, roughly $27.72 million, based on the quarterly averages. They held 3,176,644 shares by quarter’s end, worth $36.40 million. The paper gains, factoring in both the buy and the stock’s slow bleed, came to $24.87 million. Numbers. They can tell a story, if you know how to read the shadows.

There are those who seek to profit from this new reality, to weave its threads into the fabric of commerce. Three ventures, in particular, appear poised to benefit from this unfolding drama: Palantir Technologies, Salesforce, and Microsoft. They are not simply purveyors of software, but architects of a new kind of power, a power derived from the manipulation of information. Let us examine their strategies, their strengths, and the subtle vanities that drive their leaders.

Five years have passed, and the sea remains implacable, indifferent to the frantic calculations of economists and the desperate gambles of governments. China, a dragon slumbering on a hoard of critical minerals, still casts a long shadow, its control absolute, its intentions as opaque as the deepest trench. The demand, however, has not merely persisted; it has swelled, fed by the insatiable appetite of electric vehicles, the relentless expansion of data centers, and the feverish pursuit of energy storage. It is a thirst that cannot be quenched by land alone, a hunger that drives men to look beneath the waves, to disturb the ancient slumber of the ocean floor.