Chapter 10
The sea did not return.
Even hours after the tide withdrew, black water still circled the exposed temple in slow spirals, crashing violently against the outer stone as if the ocean itself resented what had been uncovered.
Mara’s ship rested crooked against the newly exposed stairs.
No one spoke while they descended.
The surviving crew moved carefully down massive black steps slick with centuries of salt and darkness. Lanterns shook in trembling hands. Boots echoed against stone too ancient to belong to Dominion.
Above them, storm clouds churned.
Below them, the temple waited.
Frey kept the living page wrapped tightly beneath his cloak, though he could still feel its heat through the fabric. The closer they moved toward the structure, the warmer it became.
Like recognition.
Or warning.
The entrance towered over them: colossal doors carved with celestial circles, tidal patterns, and strange geometric markings that seemed almost mathematically alive. Massive stone figures stood on either side of the opening, their faces smooth and featureless, their hands resting over hollow circles carved into their chests.
No crowns.
No weapons.
No names.
Only empty circles. Mara stopped beneath them.
“I don’t like this place,” one sailor muttered.
Another laughed nervously. “You liked the Wardens better?” No one answered.
Frey stepped closer to the carvings.
At first he thought the symbols were decorative. Then he realized they were records.
Cycles.
Routes. Trade movements.
Population shifts. Resource tallies.
The walls were tracking civilizations across enormous stretches of time.
Not art.
Data.
The realization unsettled him more than gold or weapons ever could. This place had not been built merely to survive time. It had been built to study people through it.
The massive doors groaned open before anyone touched them.
The sound rolled through the temple like distant thunder. Several crewmen immediately stepped backward. Inside, darkness stretched endlessly forward.
Then lantern light spilled across the interior…
and everyone froze.
The chamber was enormous.
No treasure vault. No throne room.
A city of systems.
Stone pathways crossed above enormous circular mechanisms turning slowly beneath the floor. Massive suspended rings rotated overhead, covered in moving star charts and etched symbols that shifted with the grinding rhythm of hidden machinery.
Maps covered entire walls.
Trade routes. Tidal patterns. Resource movements.
Population migrations.
Supply chains. The room looked less like a temple…
and more like the inside of an ancient mind. Frey walked slowly forward.
Every surface carried records of movement, allocation, exchange, direction. Finance. Investment. Systems shaping civilizations across centuries. Not piles of gold. Not hoarded wealth.
Infrastructure.
Planning. Long-term construction. He felt something uncomfortable settle into his chest. This place understood something the world above had forgotten.
One sailor stepped toward a pile of golden artifacts near the far wall.
“Finally,” he whispered.
The man rushed forward greedily, stuffing coins into his coat with shaking hands. Mara’s expression hardened immediately.
“Leave it.”
The sailor ignored her.
“These alone could buy half of Solara.”
The floor beneath him shifted. A violent grinding echoed through the chamber.
Then the stone collapsed. The sailor screamed as the ground disappeared beneath him, dropping him into darkness below. His lantern vanished after him.
The scream cut off suddenly.
Silence returned. No one moved. No one even breathed. Mara stared at the broken floor for a long moment.
Then quietly:
“This place tests people.”
Frey looked toward the scattered coins still resting safely near the edge of the collapse. Bait. Not reward. A realization struck him hard. Most people looked at wealth and asked:
“What can I gain?”
But this place seemed to ask something else entirely: “What governs you?”
Fear. Greed. Relief. Impulse. Appetite.
The temple was studying them.
The surviving crew moved deeper inside carefully now.
The further they walked, the stranger the structure became. Massive observatory chambers opened above them, revealing rotating celestial maps aligned with the storm outside. Narrow waterways moved beneath transparent stone floors carrying glowing currents toward unseen parts of the temple.
Everywhere Frey looked, the architecture reflected systems.
Flow. Direction. Allocation.
Nothing wasted. Nothing random.
A phrase carved into black stone caught his eye.
What men fund reveals what rules them.
Another inscription stretched across a nearby archway.
Most consume the future before it arrives.
Frey stopped walking.
The words hit him harder than they should have. He thought of Tuckahoe Dunes.
People surviving one day at a time because survival was all they had ever been taught. Spend immediately. Relieve discomfort immediately.
Escape immediately.
No future ownership.
No long-term direction. Only reaction.
Another phrase waited farther ahead.
The poor are taught to survive the present.
The powerful purchase the future.
A cold feeling moved through Frey’s chest. Not because the words felt cruel. Because they felt true. One crewman shook his head uneasily.
“Who built this?”
No one answered.
But Frey was beginning to understand something terrifying:
Whoever created this place understood human behavior better than the Dominion ever had. The Dominion controlled people through systems. This place understood why those systems worked.
A loud crack echoed somewhere deeper in the temple.
The crew spun toward the sound.
One of the sailors stood frozen near a narrow hallway branching away from the main chamber. His eyes stared blankly into the darkness ahead.
“What do you see?” Mara asked sharply.
The sailor didn’t answer. Slowly, he stepped forward. Then another. Then another.
Like someone sleepwalking. Mara grabbed his shoulder hard. The man snapped violently back to reality, panic flooding his face.
“She was there,” he whispered.
“Who?”
The sailor’s face had gone pale.
“My daughter.”
Silence swallowed the room. The hallway ahead remained dark and empty. But Frey understood now. The temple did not merely expose greed.
It exposed longing.
Relief. Pain. Need.
The things that governed people when they believed no one was watching.
Mara looked at the crew carefully now. “From this point forward,” she said quietly, “you trust your mind less than your discipline.”
No one argued.
Frey tightened his grip around the living page beneath his cloak. The warmth had grown stronger.
The page was leading him somewhere deeper.
Somewhere beneath the observatory.
And for the first time since entering the temple…
Frey felt it clearly. Not danger. Not fear.
Observation.
As though the entire structure had been aware of him since the moment he stepped inside. Another inscription waited ahead carved into black stone above descending stairs.
Frey stopped beneath it.
If you are not governing yourself…
someone else is.
The words hit him like a physical blow.
Anansi had spoken like this.
No…
not Anansi.
Something behind Anansi.
Something that had guided him here long before he understood he was being guided at all.
A chill ran through him.
Because for the first time, Frey began wondering whether his journey had ever truly belonged to him.
The living page pulsed once.
Then the stairs below them slowly began to open.
Frey’s Journal: Cycle 5, Phase 2, Solar Arc 218
What is Finance? The process by which markets allocate funds, directing money from savers to those who can use it productively.
Entry: Cycle 5, Phase 2, Solar Arc 218
Investing:
#1 Rule: Always check the news or your sources for accurate information about what’s happening worldwide, especially around you; you’re not here to gamble.
The news should always be up-to-date!
After looking it over, ask yourself: What are the implications of this news? What, who, and how much does this affect, and can you make or secure money here? I suggest making a journal with a script of three questions that must be answered for you before making any investment decisions:
- What is the key event or news item, and how is it relevant to my investments or financial goals?
- How does this impact the market, and which industries, companies, or sectors will likely be affected the most?
- Can I take action here by buying, holding, or selling, and how will this decision fit into my long-term strategy?
You can keep a journal. Having these questions in your journal will help you focus on the bigger picture, avoid emotional decisions, and stay aligned with your financial goals. Always step back to evaluate and ensure your choices are grounded in research, not speculation.
Present Value of Future Cash Flows: To make sound financial decisions, you must understand the’ present value (PV) of future cash flows. The formula for PV is:
– PV = Present Value
– FV = Future Value
– r = Discount Rate
– t = Time Period
Instance:
Imagine you’re considering putting $1,000 into a 4-year Certificate of Deposit (CD) at your bank. The bank promises to pay you $300 per year in interest, and at the end of the fourth year, you’ll also get your original $1,000 back.
However, due to inflation and opportunity costs, money in the future will be worth less than today. By summing the PV of each yearly payment and your final payout, you can compare it to your initial $1,000 investment and decide whether it’s worth it.
To calculate future cash flows’ Present Value (PV), use a financial calculator (like a TI BA II Plus) or an online PV calculator.
If using a standard financial calculator, use the Time Value of Money (TVM) Function.
Enter the values:
-
- N = 4 (number of years)
- I/Y = 5 (discount rate per year)
- PMT = 300 (annual payment received)
- FV = 1,000 (final payout at the end of year 4)
- PV = (this is what you solve for)
Press CPT → PV (Compute Present Value, if on a standard financial calculator).
The calculator returns the present value (PV), which shows how much those future payments are worth today. The calculator may return a negative PV, indicating a cash outflow you’d need to invest today. However, we use the absolute value to compare the investment.
The investment’s total Present Value (PV) is $1,886.49, but you could receive more elsewhere. The Present Value tells you how much you’d need to invest today at a 5% return to receive the same future cash flows. It’s a way of comparing future money to today’s money.
|
Year |
Future Cash Flow |
Present Value (Discounted @ 5%) |
|
1 |
$300 |
$285.71 |
|
2 |
$300 |
$272.11 |
|
3 |
$300 |
$259.15 |
|
4 |
$1,300 (300 + 1000 lump sum) |
$1,069.52 |
|
Total PV: $1,886.49 |
If someone offered you this, you might think: “Cool, that’s $2,200 total. I’d pay that!”
But when you apply a 5% discount rate (meaning you expect a 5% return), those future dollars aren’t worth as much today. Their total value in today’s terms is only $1,886.49
Present Value shows what future money is worth today. The farther in the future it is, the less it’s worth. In this case, $2,200 in the future is worth only $1,886.49 today at a 5% return.
Blue bars = The actual future cash you’ll receive each year.
Green dots = What each year’s payment is worth today (discounted at 5%)
Orange line = The total value, year by year, of all payments in today’s dollars (cumulative Present Value)
Another way to look at this example is to use a different tool: an investment/future value calculator. The original problem you were solving for the Present Value (PV) of $300/year for 4 years | Plus $1,000 at the end | Using a 5% discount rate
This calculator works forward instead of backward.
$300/year for 4 years | Plus $1,000 at the end | Using a 5% discount rate
It’s the same problem, but with a different calculator. This time, the answer is $1,294.00 in total value, showing Future Value, not Present Value.
The Key Difference:
|
Concept |
TVM Calculator |
Investment Calculator |
|
Solving For |
Present Value (PV) |
Future Value (FV) |
|
Assumes What? |
You know the payouts; I want to know what it’s worth today. |
You know your contributions and want to know how much they will grow to |
|
Your Result |
$1,886.49 needed today |
$1,294.00 after 4 years of investing |
Both calculators are correct, but they do opposite things:
– The TVM calculator asks: “What is this future cash flow worth today?”
– The investment calculator asks: “How much will my money grow?”
Time Value of Money Calculator
Investing is the process of growing wealth over time by purchasing assets like stocks, bonds, and other securities. These investments can help fund essential milestones such as buying a home, saving for your child’s education, or preparing for retirement. Unlike savings accounts, where deposits are protected by government insurance, the value of investments fluctuates. This means your investment value can rise or fall depending on market conditions, and there’s no guarantee of profit.
Instance:
If you invest $10,000 in the stock market, the value can rise if the companies you’re invested in perform well, or it could fall if those companies face challenges. Unlike a savings account, where the money stays the same unless you add to it, investments carry the risk of growth and loss: news, Armed conflict, tariffs, and so much more cause prices to go up and down.
Arbitrage Opportunities
Arbitrage allows for riskless profit by exploiting price differences in different markets. The Law of One Price states that two identical securities should trade at the same price. If not, an arbitrage opportunity exists.
Instance:
Buying an underpriced asset in one market and selling it for a higher price in another market.
While savings accounts are safe and liquid, they typically offer lower returns. They are ideal for short-term goals, such as setting aside money for an emergency fund, where quick access to cash is essential. However, investing is often better for long-term goals, such as retirement or funding your child’s college education. Investment products, like stocks and mutual funds, can offer higher returns over time, even though they carry more risk.
Instance:
If you place $10,000 into a savings account with a 1% annual interest rate, you’d earn $100 annually. However, if you invest the same $10,000 in the stock market at an average annual return of 7%, it could grow to over $19,000 after 10 years. The savings account offers security but lower growth potential, whereas the stock market provides higher returns over the long term.
Entry: Cycle 5, Phase 2, Solar Arc 218 218
Failure is full of benefits, never be afraid to pay the price.
Financial Markets Overview:
1. Money Markets – Short-term debt instruments (T-bills, CDs, Commercial Paper).
2. Stock Markets – Equity securities (common and preferred stock).
3. Bond Markets – Fixed-income securities are affected by interest rates.
4. Derivatives Markets – Contracts based on commodities, interest rates, or financial assets.
When considering investments, choosing the right vehicle is essential, shaped by your goals, risk tolerance, and market knowledge. Investment vehicles are the types of investments you can buy, such as stocks, bonds, mutual funds, and real estate. Each type has its level of risk and potential return, and the best choice will depend on factors like how much risk you’re willing to take, how much money you can invest, and how long you can leave your money invested.
Stocks
Stocks represent partial ownership in a company. Their value can rise or fall with the company’s performance. Stocks are suitable for investors seeking long-term growth but carry higher volatility. Each share entitles its owner to one vote on corporate governance matters and a prorated share of the dividends paid to shareholders. Stockholders (equity owners) are the residual claimants of the firm’s income.
Many stock market indexes measure the overall market’s performance. The oldest and best-known indicators, the Dow Jones averages, are price-weighted indexes. Today, many broad-based, market value-weighted indexes are computed daily. These include the Standard & Poor’s Composite 500 Index, the NASDAQ Index, the Wilshire 5000 Index, and several international indexes.
An IPO is the first time a formerly privately owned company sells stock to the general public. A seasoned equity offering (or seasoned issuance) is the sale of stock by a company that has already gone public.
Instance:
If you buy stock in a company like Apple, and the company performs well, the value of your stock may increase, allowing you to sell it for a profit. However, if Apple faces setbacks (product recalls, market competition), the stock price may decline, and you could lose money.
Bonds:
Bonds are loans you make to companies or governments. In exchange for lending your money, you receive regular interest payments and the return of your principal at the bond’s maturity. Bonds are generally less risky than stocks, but they tend to offer lower returns.
Instance:
If you purchase a government bond for $1,000 with a 3% annual interest rate, you’ll receive $30 annually for the bond’s life. At the end of the bond term (say, 1 year), you’ll get back your initial $1,000. While safer than stocks, bonds offer lower returns but provide a steady income stream.
Mutual Funds
These funds pool money from multiple investors to invest in a diversified portfolio of stocks, bonds, or other assets. Mutual fund benefits include the ability to invest small amounts of money, diversification, professional management, low transaction costs, tax benefits, and streamlined administration. The disadvantages of mutual funds are generally operating expenses, marketing expenses, distribution charges, and loads. Loads are fees paid when investors purchase or sell shares.
Instance:
You invest in a mutual fund that holds a mix of 50 different stocks. If one stock performs poorly, it won’t severely affect your portfolio, as the other stocks will balance the risk. However, returns are shared with other investors, so you won’t be able to capture all the potential gains.
Real Estate
Investing in real estate involves purchasing property to generate rental income or sell for a profit. Real estate can provide steady cash flow and long-term appreciation, but it requires more management and often carries higher upfront costs.
Instance:
You purchase a rental property for $200,000, and its value increases. You can sell the property for a profit or continue collecting rental income. However, managing tenants, property maintenance, and market fluctuations can add complexity and costs.
Exchange-traded funds (ETFs)
ETFs are similar to mutual funds but trade on stock exchanges like individual stocks. They typically have lower fees and are a good option for investors seeking diversification with a smaller initial investment.
Instance:
You invest in an ETF that tracks the S&P 500 index, which holds shares of the 500 largest publicly traded companies in the U.S. The value of the ETF will rise or fall with the performance of those companies. ETFs, with lower fees than mutual funds, can be a cost-effective investment option that offers a diverse range of mutual funds.
Hedge funds
They face far less regulation because they are part of private partnerships and are exempt from most SEC rules. They permit investors to take on many risks unavailable to mutual funds. Hedge funds typically require higher fees (management and performance fees), are available only to accredited investors (those with minimum net worth requirements), and offer less transparency to investors. This lack of openness creates significant counterparty risk, and hedge fund investors must be more careful in their fund selection.
-
Mutual Funds
Hedge Funds
Management Fee
Yes
Yes
Performance Fee
No
Yes
SEC Regulation
Heavy
Light
Initial Lock-up Periods
No
Frequent
Leverage
Minimal
Unlimited
Short Sales
Not Permitted
Permitted
Transparency to Investors
High
Low
How to Choose the Right Investment Vehicle
Selecting the right investment vehicle depends on several personal factors, including:
– Market Knowledge: If you’re experienced and knowledgeable about the market, you may prefer individual stocks or bonds, as they offer greater control but require more research.
– Financial Skills: Some investments, such as real estate or trading options, require more management expertise, while others, like mutual funds or ETFs, are easier for beginners to manage.
– Risk Tolerance: If you’re risk-averse, you might prefer bonds or a diversified portfolio of mutual funds or ETFs. If you’re comfortable with higher risk, stocks and real estate may be more suitable.
You might focus on equities and growth stocks for long-term growth (such as retirement). For short-term goals (such as buying a home in a few years), you might choose safer, more stable investments like bonds.
Instance:
If you’re saving for retirement and have a long time horizon, investing in growth stocks or equity-focused mutual funds may be more appropriate. If you’re saving for a down payment on a house in a few years, you might opt for bonds or a money market account, which are safer but offer lower returns. By understanding the basics of investing, knowing the available investment vehicles, and aligning your choices with your financial goals and risk tolerance, you can make informed decisions that help you build wealth over time.
The chamber fell silent.
Even the massive mechanisms turning beneath the temple seemed quieter now, as if the structure itself were listening.
The opened staircase descended into darkness below the observatory, ancient stone steps vanishing beyond the reach of lantern light. Cold air drifted upward carrying the scent of rain, ink, and something else Frey could not name.
No one rushed forward.
The surviving crew exchanged uneasy glances, their earlier greed replaced by something far more dangerous:
Doubt.
Frey looked down at the living page in his hand. New ink had appeared across its surface.
Cycle 5 approaching.
Proceed below.
A low groan echoed somewhere deep beneath the temple.
Not machinery.
Something else.
Captain Mara tightened her grip on the lantern beside him.
“We’re being led,” she whispered.
Frey stared into the darkness below.
The journey to this place had never been the test.
The real test was about to begin.