Mapping capital to consequence.
Pecora is an investment intelligence platform that maps publicly traded companies to whether they mitigate or exacerbate global risk — with the financial returns to back the methodology.
Trillions of dollars in public capital flow each year into companies whose business models systematically increase the global risks documented across infectious disease, environmental disruption, information collapse, and institutional failure. The same trillions flow away from companies whose business models measurably decrease those risks — not because the latter are bad businesses, but because the existing investment infrastructure is not designed to recognize the distinction.
Pecora is the platform built to close that gap. The premise is straightforward and historically supported: companies that systematically exacerbate global risk tend, over long enough horizons, to face enforcement, reputational collapse, or business-model failure. Companies that quietly mitigate global risk tend to compound steadily before the broader market notices. Enron. Lehman. The tobacco industry. Kodak. The pattern is real, recurring, and underpriced.
Pecora is the framework that makes the pattern legible to the institutions whose decisions move capital at scale — and to the individual investors who want their portfolios to reflect the world they want to live in.
Backing those who fix the world’s risks. Betting against those who create them.
— Pecora · Operating Thesis
Pecora is built as three concentric layers, each accessible to a different audience and each grounded in the same underlying scoring methodology. The framework is the same across layers; the depth of access scales with the user’s commitment.
Each Ground Truth index measures a distinct aspect of how a company’s business model relates to global risk. The indices are designed to be used independently, in combination, or aggregated into the Composite. All six derive from the same underlying methodology.
Ground Truth Capital is the live investment fund operating under the Pecora methodology. It is the proof of concept that ships before the platform does.
The fund applies Pecora’s long-short framework with real capital, holding positions in companies that mitigate WEF-mapped global risks and shorting or putting positions in companies that exacerbate them. Methodology compliance is audited; positions are reviewed against the Ground Truth indices on entry and exit; the track record is the validation the broader platform will eventually rest on.
The fund operates under Perpetual Purpose Trust governance — a structure designed to ensure that the methodology cannot be diluted, the mission cannot be sold, and the work outlasts any single steward. The legal and operational architecture is as deliberate as the investment thesis.
Ground Truth Capital is currently in Phase 0 — the period during which the fund accumulates the historical track record that will anchor the public Pecora platform’s credibility. Phase 0’s analytical priority is the 20-year historical study validating the Pecora methodology against two decades of WEF risk data and equity returns — the published evidence base that converts the Pecora thesis from defensible argument to peer-reviewed contribution.
Ferdinand Pecora was the chief counsel to the U.S. Senate Committee on Banking and Currency during its 1933–1934 investigation into the practices that produced the 1929 crash and the Great Depression that followed. His questioning of bank executives — methodical, public, devastating — reshaped American public opinion on financial accountability and laid the groundwork for the Glass-Steagall Act, the Securities Act of 1933, and the founding of the SEC.
Pecora’s work was a study in the power of disciplined evidence applied to systems that had grown comfortable with their own opacity. He did not invent regulation; he established the precedent that capital markets are answerable to the public whose savings they manage. The platform that bears his name is built on the same premise: capital flows are measurable, the consequences of those flows are documentable, and the public deserves to see both.
Ground Truth Capital is operating with live capital under the Pecora methodology. The 20-year historical backtesting study is the analytical priority of Phase 0. The public platform — screener, research, community — is in design. Inquiries from institutional investors, family offices, and academic collaborators interested in the methodology, the backtest, or the fund’s operating history are welcome.
Contact Pecora →Meridian is the independent research and applied-technology project of Mark Greenhalgh. Views, analysis, and materials published under the Meridian name are his own and do not represent the position of the U.S. Department of Defense, the Department of the Army, or any U.S. government agency or component. Meridian operates independently of his official duties. Pecora and Ground Truth Capital are research and methodology projects of Meridian; nothing on this page constitutes investment advice, an offer to sell securities, or a solicitation of an offer to buy securities.