Elon’s busy building the Roman Empire in his nursery, Jerome's deadlifting instead of cutting rates, and brokers in 1925 Italy responded to regulation by going full WWE. Markets are wild - but they always have been.
Plus: the ill-fated Jones Act, Chinese shipping, RuneScape-driven economics, Peter Navarro's alter-ego as a sack of bricks, and Quinn breaks the market with his metaphor.
Welcome to the next episode of the Capital Call: with the Millegan Brothers, managing partners of the Woodworth Contrarian Fund.
DEEP ROOTS. STUBBORN GROWTH. OREGON BASED.
Episode Breakdown:
(00:00) New Intro (Shoutout Noah McGraw) & Good Friday Vibes
(00:42) Elon vs. Navarro: Tesla, Twitter, and Trump
(02:55) Volatility and the Death of Fundamentals
(06:00) Gaming Economics: Diablo, WoW, and RuneScape
(10:18) Tariff Panic and the Market’s Fragile Confidence
(14:58) Railcars, Trade Loopholes, and Undervalued Winners
(18:52) The Jones Act and U.S. Shipping Dysfunction
(24:18) Powell’s Personality, Fed Independence, and Rate Drama
(30:45) Fed Politics, Firing Powell, and Hawk vs. Dove
(36:18) Interest Rates, Yield Curves, and Recession Signals
(47:48) Population Decline, Elon’s Baby Crusade, and Demographic Economics
(56:08) Mussolini’s Broker Riot: Margin Calls and Market Chaos
(1:03:40) Final Thoughts & Capital Call Sign-Off
Quinn Millegan: www.linkedin.com/in/quinnmillegan
Drew Millegan: www.linkedin.com/in/drew-millegan
The Millegan Memo (monthly newsletter): www.woodworth.fund/news/tag/The+Millegan+Memo
Woodworth Contrarian Fund: www.Woodworth.Fund
Capital Call: CapitalCall.Stream
Inquiries: info@woodworth.fund
Capital Call #3 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.
April 18th 2025
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