Altitude by Talon Podcast

Talon Capital
  • 5.0 (8)
  • Entrepreneurship

Welcome to the Altitude by Talon podcast, where we explore energy, AI, entrepreneurship, and investing with the experts building the future. Each episode brings candid conversations with founders, investors, and industry leaders reshaping how we power our world, leverage artificial intelligence, build companies, and allocate capital. We cut through the noise to deliver actionable insights from people who have done the work and achieved real results.Whether you're an entrepreneur seeking your next breakthrough, an investor looking for emerging opportunities, or simply curious about the forces transforming our economy, Talon Talks provides the knowledge you need to stay ahead.Topics: Energy innovation • Applied AI • Startup strategy • Investment trends • Leadership lessons from successful exits

  1. 23h ago

    Episode 12: David Darst's Asset Allocation Playbook

    In this episode of Altitude by Talon, host Charlie Leykum sits down with David Darst — widely regarded as one of the fathers of asset allocation, and, as it turns out, Charlie's father-in-law. David spent 25 years at Goldman Sachs, including six years launching and running the firm's private bank in Zurich, followed by more than two decades at Morgan Stanley as chief investment strategist of wealth management and founding chairman of its asset allocation committee. The author of more than 15 books, including The Art of Asset Allocation and the New York Times bestseller The Little Book That Saves Your Assets, David now serves as chief investment officer of Americana Partners in Houston. The conversation traces his path from Nashville and Phillips Exeter Academy through Yale and Harvard Business School, into the heart of asset allocation theory — diversification, rebalancing, and risk management — and out into his current views on gold, energy, healthcare, and private assets. 🎧 Episode Highlights [02:00] Growing up in Nashville and the path to Phillips Exeter Academy at age 15 — including the upperclassman who told him to "hit the books or hit the bricks." [06:00] Studying economics at Yale under Nobel laureate James Tobin and the origins of his fascination with language and etymology. [13:00] Joining Goldman Sachs, becoming its youngest manager at 27, and opening the firm's private bank in Zurich. [21:48] The move to Morgan Stanley and summarizing 12 essential investing books to elevate financial advisors' knowledge. [26:20] "Recognizing Turning Points" — the 1999 essay, written at mentor Barton Biggs's urging, that called the market top just ahead of the dot-com crash. [33:55] Where David sees opportunity today: healthcare, energy, and a closer look at how the "Mag Seven" stocks are performing this year. [43:16] The 15 lessons of wisdom a translator compiled after shadowing David for 24 hours at a central bank conference in Georgia and Armenia. [48:35] Lightning round: the phone-scanning habit that changed how David writes, and the story behind meeting WhatsApp founder Jan Koum. [53:00] Closing thoughts: the family story behind his new children's book, Lulu Loves Christmas. 🔑 Key Takeaways: ●Takeaway 1: Real risk isn't variance, it's covariance. True diversification means holding assets that don't move together, so a shock to one doesn't sink the whole portfolio. ●Takeaway 2: Every asset is driven by fundamentals, valuation, and psychology. Psychology is the most important of the three. The discipline to buy a good asset when it's unloved, or trim one that's grown too large is what separates successful long-term investors from everyone else. ●Takeaway 3: Private and alternative assets deserve a place in a portfolio, but most individual investors lack the resources to do proper due diligence. The real skill is picking the right manager, quote: "if you don't know diamonds, know your jeweler." 👤 Guest Spotlight: David Darst, Chief Investment Officer, Americana Partners David Darst is widely known as one of the fathers of asset allocation. He spent 25 years at Goldman Sachs, including six years launching and running the firm's private bank in Zurich, followed by more than two decades at Morgan Stanley, where he served as chief investment strategist of wealth management and founding chairman of its asset allocation committee. He is the author of more than 15 books, including The Art of Asset Allocation and the New York Times bestseller The Little Book That Saves Your Assets, and has also published four creative works, including his forthcoming children's book, Lulu Loves Christmas. A longtime contributor to CNBC and Bloomberg, he has taught at both Yale and Harvard Business School. He now serves as chief investment officer of Americana Partners in Houston, where he is entering his eighth year with the firm. Stay Connected: https://www.talon-cap.com Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  2. Sep 4

    Episode 11: Charles Ellis on 50 Years of Investment Management and the Yale Endowment Model

    In this episode of Altitude by Talon, host Charlie Leykum sits down with Charley Ellis — founder of Greenwich Associates, former Chairman of Yale's endowment investment committee, longtime Vanguard board member, and author of 24 books, including the landmark Winning the Loser's Game and his newest, Great American Investments. Charley traces his path from a childhood spent moving across America, to a discovery of art history at Yale, to Harvard Business School, and eventually to the index fund research that reshaped how the investment industry thinks about active management. The conversation covers why 85–90% of actively managed funds fail to keep up with the index over a 20-year period, the outsized power of starting early and letting compounding do the work, the journey to chairing Yale's endowment committee, and what 14 great American investments — from the Erie Canal to the NIH — reveal about the entrepreneurial spirit behind the country's biggest wins. 🎧 Episode Highlights ● [00:02:00] Growing up all over America in the 1940s and what moving constantly taught Charley about regional change and dynamics. ● [00:05:13] The Exeter teaching method that shaped how Charley learned to listen and think for the rest of his life. ● [00:08:00] A chance conversation with a faculty advisor at Yale leads Charley to art history, and a lesson about why only the best of the best of the best really matters, in art and in investing. ● [00:12:00] Why Charley's father talked him out of law school and toward business, and the girlfriend who told him to apply to "the B school." ● [00:28:37] How a supervisor's blunt feedback ("you don't know anything about investing") sent Charley to night school at NYU — and turned into an accidental PhD. ● [00:38:41] The core thesis of Winning the Loser's Game: why 85–90% of actively managed funds fail to beat the index over 20 years, even after all the talent and technology the industry has thrown at the problem. ● [00:44:00] The path back to Yale: from a talk on endowment management to chairing the university's investment committee. ● [00:58:00] What elite professional firms — Goldman Sachs, McKinsey, Cravath, the Mayo Clinic — all have in common, from What It Takes. ● [01:00:00] Inside Great American Investments — 14 entrepreneurial stories, from the Erie Canal to land-grant colleges to the NIH, that built the country's spirit of innovation. 🔑 Key Takeaways: ● Takeaway 1: Very few people ever ask themselves the one investing question that matters most — how much time do I have before I'll actually need this money? Knowing your real timeframe should shape every allocation decision you make. ● Takeaway 2: Over a 20-year period, 85–90% of actively managed funds fail to keep pace with a simple index fund — even with lower fees, lower taxes, and protection from common behavioral mistakes, indexing remains one of the most reliable paths to long-term returns. ● Takeaway 3: Time and compounding are gifts that reward starting early far more than they reward trying to optimize later. The leap from 64 to 128 takes exactly as long as the leap from 1 to 2 — the advantage comes from starting the clock sooner, not from timing the market. 👤 Guest Spotlight: Charley Ellis, Founder, Greenwich Associates Charley Ellis is one of the most influential investment thinkers and writers of the past 50 years. His landmark 1975 article, "The Loser's Game," grew into the book Winning the Loser's Game, now in its final edition with over a million copies sold worldwide. He founded Greenwich Associates, chaired Yale University's endowment investment committee, served on Yale's board and on the board of Vanguard, and has taught at both Harvard Business School and Yale. He is the author of 24 books, including The Partnership (a history of Goldman Sachs), What It Takes (a study of elite professional firms), and his newest release, Great American Investments. In this episode, he reflects on a career spent studying what separates truly great organizations and investors from everyone else. Stay Connected: https://www.talon-cap.com Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  3. Aug 19

    Episode 10: From Finance to Mining: Graham Brown’s Trajectory to Arena CEO

    In this episode of Talon X, host Charlie Leykum sits down with Graham Brown, CEO of Arena Industrial, to trace his path from studying finance at UT Austin to commercial banking, investment banking, and private equity and credit investing — and ultimately to running a sand and gravel mining company. Graham shares what it was like to step into a CEO role at 29 during the depths of COVID and a down frac sand market, how Arena diversified into filter media and specialty construction materials, and why water purification and wastewater treatment have become the company's biggest growth focus. The conversation also covers the ripple effects of the data center and AI buildout on water, aggregate, and behind-the-meter power demand, plus a personal look at Graham's family, faith, and leadership influences. 🎧 Episode Highlights [01:00] Graham's background: growing up in Amarillo as the son of a petroleum geologist, and studying finance at UT Austin. [01:53] From commercial banking at Amegy to investment banking at Duff & Phelps — advising oilfield service and industrial companies through the 2014–2016 downturn. [04:19] The shift from sell-side advisory to the buy side, and what drew him to want to run a business rather than just advise on one. [6:00] The pivotal investment: a private credit loan to a sand mining company in Louisiana that didn't go as planned — and led to Graham taking over as CEO at 29. [12:45] Regional trends: the Haynesville Shale, damp vs. dry frac sand, and why Louisiana has leaned into damp sand faster than other basins. [20:46] Biggest lessons and challenges as a CEO. [23:17] How data centers are reshaping demand for construction materials, water cooling/filtration, and behind-the-meter gas power. [25:10] Family life and personal passions. 🔑 Key Takeaways: Takeaway 1: Being handed the keys to an industrial mining company at 29 taught Graham that real operating experience is where you actually learn a business. His advice for the first 90 days in a new leadership role: absorb and learn, don't overhaul. Takeaway 2: Growth in a commodity business often comes from diversification and trust, not just volume. Arena expanded from frac sand into filter media and specialty construction materials by building long-term relationships. Takeaway 3: The data center and AI buildout isn't just about power, it's also about materials, water filtration/cooling systems, and behind-the-meter natural gas. 👤 Guest Spotlight: Graham Brown, CEO, Arena Industrial Graham is the CEO of Arena Industrial, a sand mining, aggregate, and filter media company serving the frac sand, water purification, wastewater treatment, and specialty construction markets. A UT Austin finance and accounting graduate, he began his career in commercial banking at Amegy Bank before moving into investment banking at Duff & Phelps, advising middle-market energy service and industrial companies. He later moved to the buy side with a private credit fund in Austin, where a loan to a sand mining company in Louisiana led him to step in as CEO at age 29, right as COVID hit. Since then, he's helped grow and diversify the business into a profitable, multi-market platform. Graham lives in the Austin area with his wife, Kat, and their three children. Stay Connected: Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  4. Aug 6

    Episode 09: From Welder to CEO: Danny Watkins on Building Petro Mechanical Services

    We sit down with Danny Watkins, Founder and CEO of Petro Mechanical Services (PMS), to trace his path from a childhood in the shadow of Lone Star Steel in rural Northeast Texas, through a football scholarship at the University of Tulsa, and into a career that started as a welder's helper on offshore platforms in Houston. Watkins shares how mentors like fabricator “Mike” and later Mark Fisher in Pennsylvania shaped his understanding of the oilfield services business, and how the 2014-15 downturn became the unlikely launchpad for Petro Mechanical Services, founded in November 2015 on the idea of professionalizing contract welding labor. He walks through PMS's growth from a single well-head welding contract into a full-service mechanical, roustabout, rental, and supply business now in its 11th year with over 150 employees across Texas and neighboring states, and reflects on the credo that has anchored the company since day one: “We Do What We Say We're Going to Do.” 🎧 Episode Highlights [01:36]: Growing up in rural Northeast Texas in the shadow of Lone Star Steel [02:23]: A football scholarship to the University of Tulsa and the path to Houston [07:19]: Becoming a welder's helper and learning the trade from mentor “Mike” [12:12]: Starting a first welding business in 1996 and the road to Pennsylvania [14:05]: 2014 downturn and the idea behind Petro Mechanical Services [20:07]: Snapshot of PMS today — West Odessa headquarters and over 150 employees [22:05]: Longer laterals, faster wells, and the rise of U-turn drilling [30:32]: Digitization, GPS-tagged jobs, and exploring AI in the field [32:02]: Origin of the “We Do What We Say We're Going to Do” credo [37:49]: Family life, meeting Nancy, and balancing family and work 🔑 Key Takeaways: • Downturns can be the best time to build. Watkins launched Petro Mechanical Services in November 2015, in the teeth of the 2014-16 oil downturn, on the belief that drilling rigs and wells run on steel and someone needed to professionalize the welding labor force. The company won its first contract, then a second, and growth followed as clients began asking, “What else can you do for us?” — a pattern that has repeated as PMS expanded from welding into roustabouts, rentals, and supply. • Listening to clients and doing what you say builds a lasting business. Watkins traces PMS's growth directly to two simple rules: listen to what the client needs, and follow through on every commitment. That discipline — formalized in the company credo “We Do What We Say We're Going to Do” — has let PMS earn repeat business from majors and large independents and expand service lines organically as clients asked for more. • Disciplined, relationship-led expansion beats chasing every opportunity. From a single shop north of Midland to a West Odessa facility PMS now owns, and more recently a new facility near Marshall, Texas to expand into neighboring markets, Watkins has been deliberate about entering only markets adjacent to existing relationships and crews — passing on ventures like solar where PMS lacked an established network — while investing early in technology like GPS-tagged job documentation, digitized job boards, and AI to keep the growing workforce of over 150 employees efficient and safe. 👤 Guest Spotlight: Danny Watkins Danny Watkins is the Founder and President of Petro Mechanical Services, LLC (PMS), a full-service mechanical services firm serving upstream, midstream, and downstream energy operators and contractors. Raised in rural Northeast Texas, where his father worked at Lone Star Steel, Watkins played defensive line at the University of Tulsa on a football scholarship before moving to Houston in the late 1980s to work as a welder's helper on offshore platforms. He spent the following decades building a career across welding, fabrication, and oilfield services — including running his own welding business, working as a rig consultant, and helping scale a Pennsylvania-based supply company through the Macondo response — before founding Petro Mechanical Services in November 2015. Under his leadership, PMS has grown into a company of over 150 employees headquartered in West Odessa, Texas, with an expanding presence across neighboring states, offering contract welding, roustabout labor, rig-up and rig-down services, well-head installation, rental equipment, project management, engineering and design-build, and supply. With more than 25 years in the oilfield, Watkins has built the company around a simple credo: “We Do What We Say We're Going to Do.” He and his wife Nancy, whom he met in 1991, have three sons and one grandson. Stay Connected: https://www.talon-cap.com https://www.linkedin.com/company/talon-capital-corp https://www.linkedin.com/in/charlie-leykum-1622ba http://www.PetroMS.com Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  5. Jul 22

    Episode 08: Schlumberger to Stratum: Ricardo Carossino's Journey to CEO of Testing & Measurement Leader

    We sit down with Ricardo Carossino, CEO of Stratum, to trace his path from a mechanical engineering student in Buenos Aires to a 23-year career at Schlumberger spanning nine international moves, and ultimately to leading Stratum as a first-time CEO. Carossino shares the story of taking over the Weatherford Labs carve-out with a four-person leadership team just months before COVID and a major bankruptcy filing by the seller, and how the business emerged to post consistent growth. He walks through Stratum's core rock, fluid, and geochemical analysis services, and how that technology is expanding into new adjacencies including carbon capture, geothermal, mining, and organic-matter “provenance” work that traces raw materials like cotton, timber, and grain back to their source. He also reflects on disciplined M&A, entering new markets like Argentina, and the lessons from a truly global career. 🎧 Episode Highlights [01:25]: Growing up between Argentina and the U.S., and the path into mechanical engineering [04:54]: Recruited to lead the Weatherford Labs carve-out as a first-time CEO [07:19]: Navigating COVID and a seller bankruptcy in the middle of a carve-out [08:00]: Expanding into carbon capture, geothermal, mining, and organic-matter provenance [33:05]: Disciplined M&A and entering new markets like Argentina and Qatar [37:15]: Why “fingerprinting” oil and gas is fascinating forensic science 🔑 Key Takeaways: • Steady leadership through crisis builds lasting credibility. Carossino took the reins of Stratum (then the Weatherford Labs carve-out) with a four-person team, only to lose his CFO on day two and watch the seller file for Chapter 11 four months later, right as COVID made even basic legal and administrative work grind to a halt. Rather than derailing the business, that stretch set the foundation for consistent year-over-year growth, underscoring that resilience and steady execution through uncertainty matter more than a perfect start. • Core technology can unlock adjacent, high-growth markets. Stratum's rock, fluid, and geochemical analysis capabilities, built for oil and gas, translate directly into carbon capture (CCUS), geothermal, and mining, and even into “provenance” work that verifies where raw materials like cotton, timber, and grain actually originate. Recognizing that the same underlying science solves problems across very different industries has become a key lever for diversifying the business beyond its original market. • Disciplined, self-funded growth and a global mindset compound over time. Stratum has paced its acquisitions (RockType, a UK lab consolidation, and a geochemistry lab in Argentina) to what the business can support with its own cash flow rather than outside leverage, while expanding its footprint to roughly 550 employees across 20 countries. Carossino ties this directly to a career built on nine international moves and learning the local language everywhere he lived, arguing that adaptability and genuinely listening to customers are what let a company operate credibly across so many markets at once. 👤 Guest Spotlight: Ricardo Carossino Ricardo Carossino is a dynamic global operations executive and the CEO of Stratum, a rock, fluid, and geochemical analysis business he has led since 2019 after its carve-out from Weatherford Labs. Born in Albuquerque and raised in Buenos Aires, he holds a mechanical engineering degree from Instituto Tecnológico de Buenos Aires and a master's in mechanical engineering from UC Berkeley. He spent 23 years at Schlumberger across nine international assignments, including Aberdeen, Houston, Groningen, Lafayette, Paris, Bogotá, Rio de Janeiro, and London, ultimately running a $3 billion drilling group across the Americas. At Stratum, he has grown the business to roughly 550 employees across 20 countries, driven disciplined M&A and geographic expansion, and pushed the company into adjacent markets including carbon capture, geothermal, mining, and organic-matter provenance. He brings a proven track record of turning around and scaling complex, multi-country operations by balancing commercial, technical, and stakeholder demands, and is known for building highly motivated teams that deliver outstanding results. A multi-lingual U.S. citizen, he has extensive experience across North America, Europe, Latin America, and the Middle East. Stay Connected: • https://www.talon-cap.com • https://www.linkedin.com/company/talon-capital-corp • https://www.linkedin.com/in/charlie-leykum-1622ba • https://www.linkedin.com/in/ricardo-carossino-267a9b1a • https://www.linkedin.com/company/stratum-reservoir Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  6. Jun 2

    Episode 07: Navigating Energy Shocks with Scott Sheffield and Andrew Gould

    We sit down with energy legends Scott Sheffield and Andrew Gould for an in-depth conversation on the future of power, oil, gas, and global energy markets. Energy shocks are increasingly being driven by events like Middle East tensions, the Strait of Hormuz, and shifting OPEC dynamics; all of which are impacting oil prices, supply, and the long-overlooked “risk premium” tied to the commodity price. Scott and Andrew also break down the return of international exploration, headwinds to consolidation across U.S. shale, and how capital discipline, ESG, and national oil companies are reshaping long-term energy strategy. 🎧 Episode Highlights [04:30]: Global inventory drawdowns and the return of a Middle East oil risk premium [17:56]: LNG build‑out and why demand could climb toward 150 Bcf/d [32:28]: How data centers and microgrids are transforming power demand in energy [35:01]: AI and automation reshaping subsurface evaluation, drilling, and completions [44:28]: ESG versus energy security among investors and producers 🔑 Key Takeaways: ● The U.S. is structurally gas‑rich but oil‑constrained. Massive shale gas resources, growing LNG export capacity, and rising power demand from data centers and AI point toward a world where natural gas could grow to ~150 Bcf/d, while high‑quality oil inventory becomes harder to replace. That imbalance drives very different long‑term strategies for gas versus oil, and underpins why gas is central to both U.S. competitiveness and global energy security. ● Geopolitics and chokepoints are putting the Middle East “risk premium” back into oil. With roughly 20% of global oil flows exposed at Hormuz and over a billion barrels of inventories drawn down, boards can no longer ignore geopolitical risk in their price assumptions. Historically, every major oil shock eventually pushed companies to rebuild reserves outside the Middle East, and both Scott and Andrew argue this cycle will be no different. Expect more international exploration, portfolio shifts, and long‑term supply diversification. ● Despite high prices and geopolitical stress, U.S. producers are not rushing to add rigs, reflecting hard‑earned capital discipline and concerns about forward curves, tier‑two inventory, and service costs. At the same time, the ability to permit and build infrastructure will determine who can monetize gas growth and support data‑center‑driven demand. Layered on top, AI‑driven subsurface analytics, automated drilling, and advanced recovery concepts will be key tools for stretching resource bases and navigating the tension between ESG expectations and energy security. 👤 Guest Spotlight: Andrew Gould Andrew Gould is one of the most respected leaders in the global energy industry, having spent 37 years at Schlumberger, including serving as Chairman and CEO, and later leading BG Group as Executive Chairman through its landmark sale to Shell. With decades of experience across operations, technology, and global markets, he brings a rare perspective on how energy systems evolve and scale. Today, he has been a Partner at CSL Capital and Chairman of the CSL Energy Council. He continues to advise and shape the industry through board roles and investments across energy and technology. Scott Sheffield Scott Sheffield is one of the most influential leaders in modern energy, best known as the former Chairman and CEO of Pioneer Natural Resources. He built the company from a small West Texas operator into a shale powerhouse, ultimately leading its $70 billion sale to ExxonMobil. With decades of experience across multiple cycles, he has also played a key role in shaping U.S. energy policy, including efforts to lift the crude export ban, and continues to serve on boards and advise across the industry. Scott has served on the CSL Energy Council and also is on the Board of Tamboran Resources and is active with the Columbia Center on Global Energy Policy. Stay Connected: ● https://www.talon-cap.com ● https://www.linkedin.com/in/charlie-leykum-1622ba ● https://www.linkedin.com/in/scott-sheffield-8106511a7 ● https://www.linkedin.com/in/andrew-gould-8a54b239 Produced by Speakerbox Media. Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  7. May 7

    Episode 06: Pioneering U.S. Energy with Scott Sheffield

    We sit down with Scott Sheffield, Founder and Former CEO of Pioneer Natural Resources, to unpack one of the most consequential careers in modern energy. He shares how he scaled Pioneer Natural Resources from a small West Texas operator into a shale powerhouse that ultimately sold to ExxonMobil for $70 billion, and the key decisions that shaped that journey. Sheffield walks through the rise of U.S. shale, the fight to lift the crude export ban, and how global supply, geopolitics, and capital discipline continue to reshape energy markets. He also reflects on leadership, navigating downturns, and managing activist investors across multiple cycles. 🎧 Episode Highlights [00:50]: Growing up in Tehran and early exposure to global energy [14:52]: Joining a 4-person company and building Parker & Parsley [30:07]: The Mesa merger and surviving a major oil downturn [41:23]: Discovering 10 billion barrels in the Permian [50:51]: Lifting the U.S. crude export ban and reshaping energy markets 🔑 Key Takeaways: ● Building a great energy company is about long-term conviction through cycles. Sheffield’s journey shows that success didn’t come from timing the market perfectly, but from staying focused through downturns, scaling patiently, and making bold decisions like doubling down on the Permian before shale was fully proven. The ability to operate through volatility and not overreact to short-term price swings was a defining advantage. ● The U.S. shale revolution fundamentally reshaped global energy power dynamics. By unlocking massive resources in the Permian and pushing for the removal of the crude export ban, Sheffield helped position the U.S. as a dominant energy exporter. This shift not only changed domestic production but also had major geopolitical implications, especially for Europe and global supply stability. ● Capital discipline and resource quality ultimately determine long-term value. From navigating activist investors to selling Pioneer for $70 billion, a consistent theme is the importance of focusing on high-quality assets, efficient capital allocation, and sustainable returns. Growth alone wasn’t enough. what mattered was building a business that could generate durable free cash flow and remain competitive across multiple market cycles. 👤 Guest Spotlight: Scott Sheffield Scott Sheffield is one of the most influential leaders in modern energy, best known as the founder and former CEO of Pioneer Natural Resources. He built the company from a small West Texas operator into a shale powerhouse, ultimately leading its $70 billion sale to ExxonMobil. With decades of experience across multiple cycles, he has also played a key role in shaping U.S. energy policy, including efforts to lift the crude export ban, and continues to serve on boards and advise across the industry. Stay Connected: ● https://www.talon-cap.com ● https://www.linkedin.com/company/talon-capital-corp ● https://www.linkedin.com/in/charlie-leykum-1622ba ● https://www.linkedin.com/in/scott-sheffield-8106511a7 Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

  8. Apr 14

    Episode 05: Energy Super-Spiked: Arjun Murti on His Career on Wall Street, Goldman Sachs, and Energy Markets

    In this episode of Altitude, we dive into what’s really driving energy markets today with Arjun Murti, former Goldman Sachs Partner, leading energy analyst, and the voice behind the “supercycle” oil call in 2024. He walks through his Wall Street career and how he developed a view on energy that challenges a lot of conventional thinking as well as energy stock picking. Murti explains why global demand keeps rising, why oil and gas commodities aren’t going away anytime soon, and how investors should focus on real supply and demand instead of narratives. He also shares a more grounded take on the energy transition. With decades of experience across many cycles, he breaks down how to read energy markets and what could shape what comes next. 🎧 Episode Highlights [02:15]: From Wall Street to energy markets: Arjun’s path into oil and gas [12:40]: The “supercycle” call and how he saw oil differently [25:10]: Why global energy demand keeps rising [38:55]: Supply, demand, and what investors often miss [52:30]: Energy transition vs reality in today’s markets 🔑 Key Takeaways: ● Global energy demand continues to rise, and that reality is often underestimated. Murti emphasizes that population growth, economic development, and improving living standards across the world are structurally increasing energy consumption. As a result, oil and gas remain essential parts of the energy mix, regardless of how quickly transition narratives suggest otherwise. ● Energy markets should be understood through supply and demand, not ideology. A core theme throughout the conversation is that investors often get energy wrong when they rely on narratives instead of fundamentals. Murti stresses the importance of focusing on real market signals like supply constraints, capital discipline, and demand growth to make better investment decisions. ● Today’s energy market is defined more by volatility than a clean supercycle. While there are periods of tight supply and strong pricing, Murti explains that the market is likely to move in cycles driven by underinvestment and shifting demand. This creates opportunities for investors, but only for those who can navigate uncertainty and stay grounded in how the market actually works. 👤 Guest Spotlight: Arjun Murti Arjun Murti brings over 30 years of experience across energy, investing, and research, with a career spanning both traditional oil and gas and newer energy technologies. He spent most of his time on Wall Street at Goldman Sachs, where he became a partner before retiring in 2014. He writes Super-Spiked, a Substack exploring the realities of today’s energy transition. Alongside that, Arjun serves on the board of ConocoPhillips and advises other firms, ClearPath, and the Center on Global Energy Policy. Stay Connected: https://www.talon-cap.com https://www.linkedin.com/company/talon-capital-corp https://www.linkedin.com/in/arjun-murti-energy-analyst Website: https://www.talon-cap.com/ LinkedIn: https://www.linkedin.com/company/talon-capital-corp/ Contact: contact@talon-cap.com

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About

Welcome to the Altitude by Talon podcast, where we explore energy, AI, entrepreneurship, and investing with the experts building the future. Each episode brings candid conversations with founders, investors, and industry leaders reshaping how we power our world, leverage artificial intelligence, build companies, and allocate capital. We cut through the noise to deliver actionable insights from people who have done the work and achieved real results.Whether you're an entrepreneur seeking your next breakthrough, an investor looking for emerging opportunities, or simply curious about the forces transforming our economy, Talon Talks provides the knowledge you need to stay ahead.Topics: Energy innovation • Applied AI • Startup strategy • Investment trends • Leadership lessons from successful exits

Information

  • Creator
    Talon Capital
  • Years Active
    2025 - 2026
  • Episodes
    13
  • Rating
    Clean
  • Copyright
    © 2026 Talon Capital Corp.
  • Show Website
    Altitude by Talon Podcast

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