The value crowd's call book. Marked against the index.

Jim Grant's annual conference is where the deflationary / value / activist short crowd gathers each November. Different audience from Sohn — more bearish, more contrarian, more comfortable with out-of-favor names and explicit shorts. We run every public-market pitch through the standard portfolio engine (v5.4 SPY-as-cash, $100K per speaker, conviction-tier sizing) and mark daily. Closed years get a retrospective; the most recent year reads live.