What do falling oil prices, orbital battleships, and lab-grown mammoth meat have in common? Apparently, this episode. Brothers Drew and Quinn Millegan spiral through the economics of tariffs, why OPEC is the worst group project in history, and how the U.S. frackers might get kneecapped (again) by Saudi spite. We learn about Norway’s shockingly low-cost oil production, Russia planting flags on the Arctic seafloor, Greenland's prime real estate, and why you can't get your Temu order delivered. Then it’s on to teleportation ethics, hydrogen as a leaky disaster, and the future of synthetic meat.

And in this week’s “This Day in Economic History,” Quinn digs into a corporation so powerful it once ran courts, levied taxes, and governed land larger than most nations—until it stumbled, centuries later, into the arms of bankruptcy court just this year.

Welcome to the next episode of the Capital Call: with the Millegan Brothers, managing partners of the Woodworth Contrarian Fund with a new episode released every Monday morning at 2 AM Eastern / 5 AM Pacific.

DEEP ROOTS. STUBBORN GROWTH. OREGON BASED.

Episode Breakdown:

(00:00) Tequila and Tariffs: A Cinco de Mayo Kickoff

(01:35) S&P Rebounds, But Value’s Still Gone

(04:55) Temu Trouble & The End of De Minimis

(06:00) Apple’s Great Escape: From China to Vietnam

(07:45) OPEC’s Dysfunction and Oil’s Price War Rumors

(13:20) Frackers, Cheating Cartels, and the Cost of Crude

(18:00) Hydrogen, Oil, and the Renewable Transition Race

(23:30) Teleportation is Suicide (and Other Space Thoughts)

(32:00) Space Force Wants a Star Destroyer (Seriously)

(46:50) This Day in Economic History: A Corporate Empire Rises (and falls)

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: [email protected]

Capital Call #5 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.

Post market close 5/2/25 - Coming straight to you every Monday morning at 2 AM PT / 5 AM ET

This week, Quinn and Drew tackle trade wars, why tariffs age worse than milk, the hidden stupidity behind sales taxes, and the booming business of shipping empty containers across oceans. They dig into SpaceX's money machine, explain why manufacturing didn’t really "die," and marvel at a new $20K EV truck that's basically a grown-up Lego set.

Plus: the guy who missed the Titanic because he hated fancy typewriters, Greece’s 1930s currency chaos, and why we're all secretly working for the IRS.

Welcome to the next episode of the Capital Call: with the Millegan Brothers, managing partners of the Woodworth Contrarian Fund. After testing various times, for consistency, starting next week you will see a new episode released every Monday morning at 2 AM Eastern / 5 AM Pacific.

DEEP ROOTS. STUBBORN GROWTH. OREGON BASED.

Episode Breakdown:

(00:00:00) - Welcome Back: Celsius, Consistency, and the Surprise Ending

(00:01:05) - Keynes, LBJ, and Why Politics Was Always Crazy

(00:03:08) - Tariffs Gone Wild: 3,000% Solar Panels and the Buyer’s Strike

(00:06:12) - Corporate Earnings Dodgeball: United Airlines and Contingency Everything

(00:08:24) - Manufacturing Isn't Dead: Why the U.S. Is Still a Giant

(00:10:47) - Is the U.S. a Tax Haven in Disguise? (Yes, Sort Of.)

(00:13:40) - Portland Taxes vs. Common Sense: A Cautionary Tale

(00:19:00) - China’s Growth Ponzi, Collapsing Ports, and What Comes Next

(00:35:34) - Slate EV: A $20K Truck to Save the Car Market?

(00:48:45) - This Day in Economic History: Greece Defaults, America Gets Named, and a Titanic Near-Miss

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: [email protected]

Capital Call #4 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.

Post market close 4/25/25 - Coming straight to you every Monday morning at 2 AM PT / 5 AM ET

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: [email protected]

Capital Call #3 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.

April 18th 2025

First came the fake tweet. Then the denial. Then the real news. In between? Trillions moved, short sellers panicked, and the market posted one of its most dramatic rebounds since the Second World War. We walk through the tariff mess, what it means for inflation and reshoring, and whether the market just got gaslit by its own optimism. Also on deck: why warrants beat options, how fiat currency really works, and why Drew is bullish on boat anchors—again.

DEEP ROOTS. STUBBORN GROWTH. OREGON BASED.

Episode Breakdown:

(00:00) Intro & Bearer Bonds

(01:38) Tariff Whiplash & Rumor Rally

(05:05) Insider Trading Signals

(07:18) Global Trade Gets Weird

(20:17) Currency Power & The Balboa

(28:04) Short Selling & GameStop PTSD

(40:14) Warrants vs. Options

(42:11) Liquidity & Value in 2025

(44:03) Oregon Capital Deserts

(51:41) Shipping Chaos & Starbulk

(53:13) Fiat, Boat Anchors & Economics

(1:04:00) Earnings & Tariff Mispricing

(1:07:30) Closing & Contrarian Edge

Brought to you by The Millegan Brothers & The Woodworth Contrarian Fund.

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: [email protected]

Tariffs, tantrums, and $6 trillion in vanishing value—what better time for the first-ever Capital Call? On this so-called “Liberation Day,” investors were liberated mostly from their gains. Quinn and Drew, managers of the Woodworth Contrarian Fund, unpack policy chaos, circuit breakers, and why Kohl’s might just be the thrift store Picasso—buried under junk, but worth a second look.

www.Woodworth.Fund⁠

Capital Call #1 with Quinn Millegan & Drew Millegan , managers of the Woodworth Contrarian Fund.

April 4th 2025 Post-market-close