In this week’s episode...

[00:01:26] EXHIBIT A: US. GOV’T REVENUES AND EXPENSES - Hunt delves into the U.S. government's legislative process for revenues and expenses, emphasizing the challenges and implications of budget deficits. The focus is on the role of committees and the Congressional Budget Office's numbers for the year.

[00:04:55] EXHIBIT B: US GAS DEMAND / SUPPLY - Hunt discusses the balance between U.S. gas demand and supply, pointing out that increased supply has managed to counteract the rising demand. It also hints at the average gas prices and the future outlook for 2024 and 2025.

[00:07:01] EXHIBIT C: WORLD OIL SUPPLY / DEMAND - Hunt talks about global oil demand and supply, with a focus on political issues between leading producers like Saudi Arabia and the United States.

[00:08:42] PAGE 1: AAPL / GOOG / TSLA - Jason comments on Google's search result presentation and the unclear nature of paid positions in the results.

[00:09:52] PAGE 2: MSFT / CRM / SNOW / ORCL - Mike and Jason discuss tech companies such as Microsoft, Salesforce, Snowflake, and Oracle, with a focus on free cash flow and back-office functions. They touch upon how companies are adapting to the times.

[00:20:59] PAGE 3: NVDA/AMD/INTC/TSMC/ASML - The hosts discuss the significance of ASML's latest lithography machines and their impact on semiconductor manufacturing.

[00:27:43] PAGE 15: PFE / MRNA / LNTH / BNTX / VRTX - The final section is a brief discussion on biotech companies like Pfizer, Moderna, and others. It also touches upon potential future treatments being developed by Vertex that would replace opioid painkillers.

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

SHOW NOTES

[00:01:14] EXHIBIT C: WORLD OIL SUPPLY / DEMAND - This section discusses the dynamics of global oil supply and demand. It delves into various factors affecting the oil market, including geopolitical influences and economic trends.

[00:02:18] EXHIBIT B: US GAS DEMAND / SUPPLY - This part focuses on the gas market in the United States, examining the supply and demand aspects. Insights into the domestic production, imports, and consumer trends are provided.

[00:03:40] PAGES 1-3: $NVDA EARNINGS, NEW $GOOG AI PRODUCT - The segment talks about Nvidia's recent earnings report and Google's new AI product. It reviews the financial performance of Nvidia and discusses the potential impact of Google's latest AI offering.

[00:16:51] CONSPIRACY CORNER: IS SAM ALTMAN A JAMES BOND VILLAN?? - This is a lighter, speculative section that humorously discusses whether Sam Altman, a well-known tech entrepreneur, could be a villain in a James Bond movie. Theories and opinions are shared.

[00:19:06] PAGE 4: $AMZN COMPETITIVE POSITIONING IN AI - This segment explores Amazon's positioning in the Artificial Intelligence market. It looks into Amazon's strategies, product offerings, and how it stands against competitors in the AI space.

[00:22:41] PAGES 5 - 13: MARKET VALUATION REVIEW - This comprehensive section offers a review of market valuations. Various metrics and indicators are discussed to give an in-depth understanding of the current market scenario.

[00:27:19] HOW MUCH TO PAY FOR GROWTH? - The final section of the podcast tackles the topic of growth valuation. It discusses how to assess the value of growth in companies and what metrics can be useful for this purpose.

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

[00:00:53] Energy News (memo exhibit B & C)

[00:05:25] Healthcare News - UNH 0.00 Earnings (memo exhibit A & Page 19) + comp to CVS 0.00

[00:07:56] AI News → MSFT 0.00 Cashflow impact of $30 Office 365 copilot META 0.00’s Llama 2, Impact on NVDA 0.00 GOOG 0.00 GOOGL 0.00 SNOW 0.00 AAPL 0.00

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

Show Notes

Hunt begins the podcast with a discussion on AI's role in software companies and the impact of recent actions by OPEC, Russia, and Saudi Arabia on world oil demand.

There is a detailed conversation about exhibits A, B, and C, reflecting on current trends in world oil demand, gas numbers, and the impact of the debt ceiling agreement.

Various companies across different sectors are examined in-depth, with a focus on free cash flow. These include NVEC, United Health, CVS, Chipotle, Vertex, Lantheus, and more.

Mike brings up the transformative influence of technology across various sectors, contributing to the generation of free cash flow. He also discusses the future direction of Amazon and introduces Teradata as a potential opportunity.

Jason expands on the tech sector discussion, mentioning companies like Uber and Amazon. He also delves into corporate data management and its implications.

Podcast Chapters (Note, see memo pages for reference)[00:00:35] EXHIBIT C[00:01:34] EXHIBIT B[00:03:02] EXHIBIT A[00:03:37] PAGE 20 $NVEC[00:03:53] PAGE 19 $UH $CVS[00:04:09] PAGE 18 $ALB $FCX[00:04:37] PAGE 17 $FDX $UPS, $NKE, $COST[00:04:58] PAGE 18 $CMG $MCD[00:05:10] PAGE 15 $MRNA $BNTX $PFE $VRTX $LNTH[00:05:51] PAGE 14 $GNRC $CAT $DE $TDG $FAST[00:08:01] PAGE 13: $JPM $MS $GS[00:08:09] PAGE X-12 $XOM $[00:08:32] PAGE 8: $TGT $WMT $LOW $HD[00:09:23] PAGE 7: $MC $V $PAYP $SQ[00:09:36] PAGE 5-6: $CHTR $CMCSA[00:09:59] PAGE 1-4[00:10:49] PAGE 2: Software

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com

Podcast Chapters

[00:00:55] Comparison of Apple, Google, and Tesla (Memo Page 1: $AAPL $GOOG $TSLA)[00:02:23] Evaluating Tesla's Growth Potential[00:03:06] What Makes a Really Good Company? Examining Apple and Alphabet[00:06:27] Comparing Multiples on $TSLA $NVDA with those of Oil & Gas Companies ($XOM, $CVX, $COP, $OXY, $KMI, $EPD, $ET, $WES, $EOG, $MGY, $PR, $FANG)

This podcast and the information herein are intended for informational purposes only. The views expressed herein are the author’s alone and do not constitute an offer to sell, or a recommendation to purchase, or a solicitation of an offer to buy, any security, nor a recommendation for any investment product or service. While certain information contained herein has been obtained from sources believed to be reliable, neither the author nor any of his employers or their affiliates have independently verified this information, and its accuracy and completeness cannot be guaranteed. Accordingly, no representation or warranty, express or implied, is made as to, and no reliance should be placed on, the fairness, accuracy, timeliness or completeness of this information. The author and all employers and their affiliated persons assume no liability for this information and no obligation to update the information or analysis contained herein in the future.

This is a public episode. If you would like to discuss this with other subscribers or get access to bonus episodes, visit telltales.substack.com