Tesla’s Overpriced, Stellantis Is Cheap, & the SEC has a Birthday. episode artwork

EPISODE · Jun 9, 2025 · 44 MIN

Tesla’s Overpriced, Stellantis Is Cheap, & the SEC has a Birthday.

from Capital Call: with The Millegan Brothers · host Woodworth Contrarian Fund / The Millegan Brothers

Tesla’s still pretending it’s a tech company, Stellantis is still pretending it’s a cool name, and Elon’s reality show got picked up by the White House. We break down whether SpaceX could survive a government “upgrade,” how tariffs are the financial version of playing chicken with yourself, and why Stellantis might just be the least-loved bargain in autos (with Maserati-sized baggage).Also on deck: the S&P crosses the big 6-handle, oil prices yawn their way higher, and Circle’s IPO drops — because what the stablecoin market needed was more hype. Plus, a surprisingly intelligent discussion on IPO timing, salespeople, and the Bureau of Labor Statistics’ slow-motion hiring freeze.Stick around for our favorite segment: This Day in Economic History, featuring digestion-through-gunshot, Seattle on fire, and a celebration of the SEC’s birthday (because nothing says party like mandatory quarterly disclosures).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:(00:26) Intro & Format Return(01:30) SpaceX, Subsidies, and Nationalization Talk(02:32) Tesla's Valuation vs Automakers  (06:32) The Stellantis Thesis  (09:32) Tariffs and Made-in-America Cars  (11:13) Quarterly Reporting and Transparency  (15:19) Trade War Drama and S&P Update  (16:55) Oil Prices and Energy Diversification  (19:17) Jobs Data and Labor Market Resilience  (21:53) Tariff Timing and Inflation Lag  (24:21) Circle IPO and Stablecoin Hype  (29:59) This Day in Economic History(37:39) SEC Act of 1934 & Market Trust  Quinn Millegan:⁠ ⁠⁠⁠⁠⁠www.linkedin.com/in/quinnmillegan⁠⁠⁠⁠Drew Millegan:⁠ ⁠⁠⁠www.linkedin.com/in/drew-millegan⁠⁠⁠⁠The Millegan Memo (monthly newsletter):⁠ ⁠⁠⁠⁠⁠www.woodworth.fund/news/tag/The+Millegan+Memo⁠⁠⁠⁠Woodworth Contrarian Fund:⁠ ⁠⁠⁠⁠⁠www.Woodworth.Fund⁠⁠⁠⁠Capital Call:⁠ ⁠⁠⁠CapitalCall.Stream⁠⁠⁠⁠Inquiries: [email protected] Call #10 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.Post market close 6/6/25 - Coming straight to you every Monday morning at 2 AM PT / 5 AM ET.

Tesla’s still pretending it’s a tech company, Stellantis is still pretending it’s a cool name, and Elon’s reality show got picked up by the White House. We break down whether SpaceX could survive a government “upgrade,” how tariffs are the financial version of playing chicken with yourself, and why Stellantis might just be the least-loved bargain in autos (with Maserati-sized baggage).Also on deck: the S&P crosses the big 6-handle, oil prices yawn their way higher, and Circle’s IPO drops — because what the stablecoin market needed was more hype. Plus, a surprisingly intelligent discussion on IPO timing, salespeople, and the Bureau of Labor Statistics’ slow-motion hiring freeze.Stick around for our favorite segment: This Day in Economic History, featuring digestion-through-gunshot, Seattle on fire, and a celebration of the SEC’s birthday (because nothing says party like mandatory quarterly disclosures).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:(00:26) Intro & Format Return(01:30) SpaceX, Subsidies, and Nationalization Talk(02:32) Tesla's Valuation vs Automakers  (06:32) The Stellantis Thesis  (09:32) Tariffs and Made-in-America Cars  (11:13) Quarterly Reporting and Transparency  (15:19) Trade War Drama and S&P Update  (16:55) Oil Prices and Energy Diversification  (19:17) Jobs Data and Labor Market Resilience  (21:53) Tariff Timing and Inflation Lag  (24:21) Circle IPO and Stablecoin Hype  (29:59) This Day in Economic History(37:39) SEC Act of 1934 & Market Trust  Quinn Millegan:⁠ ⁠⁠⁠⁠⁠www.linkedin.com/in/quinnmillegan⁠⁠⁠⁠Drew Millegan:⁠ ⁠⁠⁠www.linkedin.com/in/drew-millegan⁠⁠⁠⁠The Millegan Memo (monthly newsletter):⁠ ⁠⁠⁠⁠⁠www.woodworth.fund/news/tag/The+Millegan+Memo⁠⁠⁠⁠Woodworth Contrarian Fund:⁠ ⁠⁠⁠⁠⁠www.Woodworth.Fund⁠⁠⁠⁠Capital Call:⁠ ⁠⁠⁠CapitalCall.Stream⁠⁠⁠⁠Inquiries: [email protected] Call #10 with Quinn Millegan & Drew Millegan, managers of the Woodworth Contrarian Fund.Post market close 6/6/25 - Coming straight to you every Monday morning at 2 AM PT / 5 AM ET.

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Tesla’s Overpriced, Stellantis Is Cheap, & the SEC has a Birthday.

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This episode was published on June 9, 2025.

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Tesla’s still pretending it’s a tech company, Stellantis is still pretending it’s a cool name, and Elon’s reality show got picked up by the White House. We break down whether SpaceX could survive a government “upgrade,” how tariffs are the financial...

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