Podcasts of the Week: the Blockchain, Wettlaufer & Miller

By Jack M. Forehand —  With so many great investing podcasts out there, it can be difficult to identify the best ones. Through our new Podcasts of the Week segment, I will try to help filter out the most interesting episodes and identify the podcasts I learned the most from each week. In addition, we will also take a look at a great podcast from the past via the From the Archives section. Best Episodes This Week Hash Power – Invest Like the Best – 9/26/2017 I am late to the party on this one because this podcast has already […]

Bill Miller’s Fund is Top Stock-Picker

The winner of the quarterly Wall Street Journal Winner’s Circle contest—which identifies the U.S.  stock fund with at least $50 million in assets (and a record of more than three years) that posted the best performance in the trailing 12 months—is Baltimore-based Miller Opportunity Trust led by Bill Miller and Samantha McLemore (both formerly of Legg Mason). This according to a recent article in The Wall Street Journal. Miller’s fund returned 48.55% for the 12 months ended June 30th [Note: Index, exchange-traded and leveraged funds are not eligible for the contest.] “Mr. Miller doesn’t shy away from companies with dark […]

Basketball, Bill Miller and Winning Streaks

 In a recent article for Forbes, Validea CEO John Reese outlined similarities between winning streaks in sports and those in investing. Most notably, the fact that “inevitably, streaks end,” writes Reese. “The same holds true for the stock market,” he says. “It will go up and go down, but will do neither forever.” He references the experience of Bill Miller, formerly of Legg Mason, who had outperformed the market every year from 1991 to 2005, only to see his streak end in the wake of the financial crisis. The best way for an investor to build a strong portfolio, writes […]

Bond Bull Market on Borrowed Time says Miller

The post-election drop in bond prices is pointing toward an end to the decades-old bull market in fixed income, says investor Bill Miller in a recent CNBC article. The founder, chairman and CIO of Baltimore-based LMM says that the money leaving bonds will likely be channeled into the stock market. “The over-investment in bonds is going to switch somewhere,” he says, adding, “I think a large part is going to go to equities like it did in 2013.” Miller views the surge in stocks precipitated by the Trump victory upset as “sensible” but argues that the equity bull market won’t […]

Value Investor Bill Miller Sees Opportunity in Low Stock Prices

Bill Miller of Legg Mason, a value investor with a strong record, told CNBC’s “Squawk Box” that it is “sort of hard to see why anyone would buy a 10-year Treasury when they could own the broader market at a higher current yield.” He sees “a disconnect between what’s really going on and what the markets are reacting to,” citing “strength in homebuilding,” “70% of companies are beating earnings estimates,” and other signs of a strong U.S. economy. Further, he stated a clear value position: “lower prices mean higher future rates of return.” Regarding oil, he commented: “historically, oil has […]