Capital Call: Now with 100% More Steel Tariffs

Kohl’s explodes upward, tariffs implode in court, and crypto takes a turn for the medieval as a self-styled “Bitcoin king” decides kidnapping is a viable portfolio strategy. We break down the chaos in U.S.–China trade talks, including China’s demand for AI chips and America’s new favorite acronym: TACO (Trump Always Chickens Out). Jamie Dimon goes full gloom-and-doom in a live interview, warning of bond market carnage just weeks after saying everything looked fine, which either means he’s hedging or auditioning for Treasury Secretary. Meanwhile, we explore the math behind steel tariffs (spoiler: you lose 75 jobs for every one saved), why the most American-made car still isn’t really American, and how free trade continues to confuse people with microphones. Plus: Andrew Jackson kills a guy, Milton Bradley loses everything over Lincoln’s beard, and stagecoach robbery goes out in a blaze of Canadian feminist glory. Economics has never been this weird or this violent. 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) Intro & Value Quote (01:30) Bias in Investing (04:00) China, Chips & TACOs (06:30) Oregon’s Tariff Lawsuit (08:30) Kohl’s Pop & Short Squeeze (10:00) Steel Tariffs Fallout (14:50) The U.S. Can’t Build Alone (20:00) Bitcoin Torture Case (25:00) Jamie Dimon Goes Doom Mode (31:30) Duels, Stagecoaches & Milton Bradley 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 #9 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund. Post market close 5/30/25 - Coming straight to you every Monday morning at 2 AM PT / 5 AM ET.