THE MILLEGAN MEMO: POST-NOVEMBER 2025 — Woodworth Contrarian Fund This month we revisit the original oil panic, the whiskey glut nobody noticed, homebuilders’ disappearing margins, and the only friend AI data centers really have - natural gas. In other words: 1970s ...

The new Millegan Memo is live. We debut the WORM index for #Oregon names, revisit the 1973 oil shock, dig into MGPI’s whiskey glut, homebuilder margin compression, and why AI’s real ally is natural gas.

As of 12/9, WORM closed at 3,408.71.
www.woodworth.fund/news/the-mil...

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