Thank You

To Our Readers,

In the spirit of Thanksgiving, we want to extend our heartfelt thanks to all of you. Your continued support, thoughtful feedback, and ongoing engagement over the past year have meant a great deal to us.

At Verdad, our aim is to bring clarity to a complex world—to challenge prevailing narratives with rigorous logic and evidence. We believe that great ideas emerge from a commitment to research, intellectual honesty, and spirited debate. This community of readers exemplifies those values in action.

As we reflect on the past year, we also wanted to share the research pieces that resonated most widely with our audience:

Verdad’s Most Read Research Articles of the Year

Each November, we compile the essays that garnered the most attention. This year, our analyses of private equity—amid signs of mounting strain in the sector—drew particular interest. We examined the fundamental performance of private equity portfolio companies, the risk/return profile of private equity funds publicly listed on the LSE, and the underappreciated costs of illiquidity.

Our pieces on pod shops and concentrated public equity investing also found a wide readership, as did our research into base rates for capital expenditures in the age of AI.

Thank you again from all of us at Verdad. We’re grateful for your readership and look forward to another year of research, reflection, and debate.

Yours,
Dan Rasmussen