Bill Miller bloomberg interview

[PatientCheetah]

What if market surprise to the upside?

 

http://www.bloomberg.com/video/miller-sees-huge-upside-for-u-s-home-builders-_defjNtSTVWmOCD5qwYVog.html/

 

Negativism & cultural influence

 

http://www.econmatters.com/2014/06/doom-gloom-sells.html#more

[Guest]

Never trust anyone who underperforms the S&P 500 over a 30 year period. ;)

 

A $10,000 investment when Miller started LMVTX was worth $266,105.46. Pretty good. 

 

Unless you look at the S&P 500, which ended at $274,684.89. So, LMVTX underperformed with more volatility and before taxes. After taxes I'm sure it'd look worse. Probably not incredibly worse since I believe he didn't have super high turnover, but still worse. 

[karthikpm]

2008-09 creamed Miller's performance.  Morningstar's headline on the fund says it all

"This fund's stomach-churning volatility limits its appeal. "

 

I liked statement on FIATY- though that may just be evidence of confirmation bias on my part..