Telltales

SHOWNOTES In this episode, we connect cash-flow mechanics to headlines across energy, technology, and healthcare. We cover the oil/gas setup, a pragmatic tour through Bitcoin’s history, AI chip supply chains, and a potential reset in U.S. drug pricing. [00:00] Intro (p.1) Welcome to Telltales with Mike Nicoletti, Jason Wallace, and Hunt Lawrence. Download the weekly Cash Flow Memo to follow along...

SHOWNOTES A fast-paced tour through this week’s Exhibits A–C (U.S. finances, natural gas, oil), a history of Broadcom’s rise from spinoff to $1.7T giant, timely healthcare shifts (FDA fast paths, DTP), and quick hits on Tesla, Apple, NVIDIA/AMD, and Netflix’s cash engine. [00:00] Intro (—) Mike, Jason, and Hunt set up the week’s Cash Flow Memo themes across energy, technology, and healthcare, and...

This episode blends near-term energy realities with a tour through Oracle’s history and its AI pivot—then zooms out to policy, trade, and the cash-flow engines dominating tech and payments. [00:00] Intro [00:00:20] Disclaimer [00:00:44] Exhibit C: Oil outlook Hunt notes Middle East détente reduces risk premia but isn’t bullish for prices near-term. With Saudi likely to defend share, oil feels “sub...

SHOWNOTES A brisk, data-driven run through Exhibits A–C (U.S. finances, Natural Gas, Oil), followed by a condensed “History of OpenAI,” semis capacity pinch points, a Tesla check-in, and timely healthcare policy updates. [00:00] Intro [00:47] Exhibit C: Oil—Geopolitics & The Abraham Accords Path Discussion of a proposed Gaza plan reportedly backed by regional governments and the potential for broa...

SHOWNOTES A brisk tour through oil, gas, and U.S. fiscal mechanics, followed by a biotech history chapter and a deep dive on NVIDIA’s sustained dominance. We close with a big healthcare development—“Trump-RX”—and quick hits from Harrow Health’s investor day. [00:00] Intro [00:28] Exhibit C – Oil: $62 is Doing Its Job Hunt frames today’s oil tape: production is rolling off in the U.S., OPEC, and no...

The Cashflow Memo Download SHOWNOTES A fast-moving tour across energy, technology, and healthcare: oil spare capacity looks set to tighten, natural gas loses its backwardation, DC politics and immigration policy enter the chat, we revisit Genentech’s beginnings, and then unpack Apple, Oracle/Broadcom, and NVIDIA through a cash-flow lens. Stick around for a sailing community shout-out from Oakcliff...

SHOWNOTES This episode tackles the week’s cash-flow movers across energy, tech, and healthcare—then time-travels through biopharma’s biggest breakthroughs. We close with practical EV takes, Big Tech updates, and why Mars might be more interesting than the headlines suggest. [00:00] Intro [00:30] Exhibit C: World Oil Supply/Demand IEA’s latest revision lifts 2025 demand growth to ~0.7–0.8 mb/d (vs....

SHOWNOTES A brisk, cash-flow-first tour through energy, technology, and healthcare: oil and gas realities, the federal balance sheet, big labor revisions, and the AI build-out—plus biotech’s backstory and fresh FDA/advertising policy moves. [00:00] Intro (n/a) [00:19] Disclaimer Reminder that the episode is informational only and not investment advice. Listeners should do their own work and assume...

SHOWNOTES This week we open with the Google antitrust decision, then dive into Exhibits C (Oil), B (Natural Gas), and A (U.S. finances) before a tech deep-dive on AI capacity, TPUs vs GPUs, and close with healthcare policy shifts. [00:00] Intro [00:38] Disclaimer General investing discussion only; do your own work. Views are the hosts’ alone. [00:51] Exhibit C – Oil (Exhibit C) Geopolitics keeps c...

SHOWNOTES A fast-moving episode: Hunt opens with Exhibits C/B/A (oil, gas, U.S. finances), then we sprint through a crisp history of AI from Turing to Transformers before closing on healthcare—Berkshire’s UNH stake and how MFN drug pricing pressures PBMs. [00:00] Intro (—) Welcome to Telltales with Mike, Jason, and Hunt. Grab the weekly Cash Flow Memo and follow along as we hit energy, technology,...

SHOWNOTES A wide-ranging tour this week: oil demand vs. spare capacity, U.S. gas and fiscal tracks, and the cloud era’s security shocks that boosted both AWS and CPU demand. We close on healthcare policy, Intel’s maneuvering, Nvidia’s China fee, and what Snowflake/Salesforce/ServiceNow signal for AI ROI. [00:00] Intro Mike sets the table for another 30-minute sprint through energy, tech, and healt...

SHOWNOTES A fast tour across energy, technology history, and healthcare—then a spirited debate on Tesla’s path: robotaxis or humanoid robots. Plus: where oil and gas balances sit now, what built Web 2.0, and why some healthcare names look interesting on cash flow. [00:00] Intro Welcome to Telltales with Mike, Jason, and Hunt, setting up a deep dive into energy, technology, and healthcare with the...

This week the Telltales crew unpacks shifting energy fundamentals, tough healthcare headlines, the rise of Web 1.0—and whether Tesla’s robo-taxi dream justifies a half-trillion price tag. [00:00] Intro Mike welcomes listeners, frames the show’s cash-flow focus across energy, tech, and healthcare, and reminds everyone to grab the accompanying memo. [00:47] Exhibit C – World Oil Supply & Demand Hunt...

In this episode we swing from macro storm clouds to silicon sunshine—probing debt risks, tracing software’s evolution, and spotlighting a Samsung-Tesla chip alliance that could turbocharge robotaxis. [00:00] Intro :00:47] Macro Risk: Could 2008 Happen Again? (Exhibit A) Hunt draws parallels between today’s oil-market risk premium and the 4Q 2008 liquidity freeze. He warns that a repo-market hiccup...

SHOWNOTES This week we weave through energy geopolitics, U.S. fiscal chess, breakthrough healthcare economics, and the exploding compute demands of frontier AI—plus part 2 of our Software History mini-series. [00:00] Intro [01:04] Oil Market War Premium & Russia Risk (Exhibit C) Hunt explains how secondary sanctions on Russian crude—now part of U.S.–China talks—add a $10-15/bbl war premium. Market...

SHOWNOTES Mike, Jason, and Hunt connect the dots between geopolitics, AI infrastructure, and healthcare policy—always through the lens of cash-flow-focused investing. [00:00] Intro (Cover) Welcome to Telltales and the weekly Cash Flow Memo. Quick rundown of what’s ahead: energy, tech, healthcare, and a short history-of-software segment. [00:00] Oil Supply & the War Premium (Exhibit C) Spare capaci...

This week Telltales flies from oil barrels to GPUs, showing how energy, technology, and healthcare each reshape an investor’s cash-flow lens. [00:00] Intro [01:00] Exhibit C – Global Oil Balance (Exhibit C) Hunt flags disappointing demand growth (+0.5 Mb/d) against a 3-4 Mb/d spare-capacity cushion. Prices hover near $65 only because Middle-East risk keeps a volatility premium alive. [01:51] Exhib...

SHOWNOTES This week the crew dissects energy demand plateaus, a surprising federal deficit outlook, and why performance-per-watt now rules both hyperscale datacenters and your smartphone—before closing with AI’s domination of medical diagnosis and fresh biotech data. [00:00] Intro [00:00:45] Exhibit C – World Oil Demand & Supply Hunt notes 2025 demand is now expected to edge only 0.5 Mb/d above 20...

SHOWNOTES In Episode 2526 the Telltales crew races through this week’s exhibits, rewinds the semiconductor timeline, and sizes up fresh tech-and-healthcare catalysts—from Tesla’s robotaxis to a federal ruling that shields AI training data. [00:00] Cold Open [00:00:56] Exhibit C – Global Oil Balance Hunt flags his revised crude-supply model: U.S. output unlikely to hit 13 Mb/d, Russia drifting unde...

SHOWNOTES Telltales dives into the week’s Cash-Flow Memo with a global tour of oil markets, U.S. fiscal math, fast-moving FDA reforms, and the AI talent wars—plus a new national sailing ranking and a teaser for next week’s chip-history deep dive. [00:00] Intro (–) Mike, Hunt, and Jason set the stage for 30 minutes of energy, tech, and healthcare analysis, remind listeners of the Cash-Flow Memo at...

SHOWNOTES This week Mike, Jason, and Hunt sprint through oil, gas, tariffs, chips, tech launches, AI financing drama, and the brewing revolt against pharmacy-benefit managers—wrapping with Harrow’s latest capital-allocation coup. [00:00] Intro [00:01] Exhibit C – Oil Oversupply & the Iran Stalemate (Exhibit C) Hunt explains why global crude stays firm near $65–66 despite clear oversupply, tracing...

SHOWNOTES [00:00] Cold Open [00:00:47] Exhibit C – World Oil Supply/Demand (Exhibit C) Hunt explains how OPEC + and Saudi Arabia are phasing curtailments out of the market—potentially adding 1.2 Mbbl/d in just three months—and why that could pressure crude prices if capacity rises to an 11 Mbbl/d run-rate. [00:02:09] Exhibit B – U.S. Natural Gas Outlook (Exhibit B) Despite AI-powered data-center h...

SHOWNOTES In this episode, the Telltales team analyzes Nvidia's upcoming earnings amid 70% free cash flow margins, explores the fascinating history of Intel's founding by the "Traitorous Eight," and discusses major developments in AI competition and healthcare. [00:48] Exhibit C: World Oil Supply/Demand (Page 1) Hunt notes oil prices holding in the $60 range despite OPEC+ production increases of 4...

SHOWNOTES This week on Telltales , we explore the real drivers behind oil prices, analyze new trends in semiconductor manufacturing and AI infrastructure, and unveil the first in a series on the history of chips, software, and biotech. Plus, Regeneron makes a surprising buy. [01:00] Oil Supply and Demand (Exhibit C) Hunt discusses Exhibit C, detailing global oil supply and demand trends. He notes...

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 beli...