FYI: Legendary investor Bill Miller has always been an independent thinker and investor with a 100% “active share” in his funds, as different from any benchmark index as you can be. He is also now his own boss, having recently purchased 100% of his fund business from his long time employer Legg Mason and establishing his own investment advisory firm, Miller Value Partners. His two funds now bear his name and carry on his contrarian tradition of concentrated holdings in largely unloved stocks. His flagship Miller Opportunity Trust was the number one U.S. stock fund for the five year period ended in 2016. In a rare interview Miller gives his rationale for some of his most controversial holdings, including Valeant Pharmaceuticals.
Regards,
Ted
http://wealthtrack.com/miller-independent-investor/
Comments
Contrarian...Value...and of course for the last 5 period of this extreme bull market his fund is tops again. Who knew!
And if you had ANY doubt...this is from Morningstar fund front page snippet for "Analyst Commentary". This is NOT a typo.
Legg Mason Opportunity Trust has outperformed at times, but its volatile nature leaves it vulnerable to substantial losses in down markets. This fund earns a Morningstar Analyst Rating...
They didn't even bother to be objective. They just knew they HAD to cover it. And let's start with a Neutral rating before we fall all over ourselves.
And Consuelo, "in his rare interview"...that's because YOU are responsible. Else there would be NO interview.
People who invest with Miller deserve it.
And now he opens his own shop and all is forgiven, of course.
Perhaps now people can understand why I dream of my kids becoming mutual fund managers. Last thing I want to do is impose my morality on my kids. I blame my parents for the scruples I have. Just like everyone else let's only worry about what is "legal" and justify it in the name of capitalism.
What a job. What a !@#$%^&* job!