Bill Miller on the Classical Value Portfolio (Podcast)
Masters in Business
Bloomberg
4.4 • 2.2K Ratings
🗓️ 10 July 2020
⏱️ 77 minutes
🧾️ Download transcript
Summary
Bloomberg Opinion columnist Barry Ritholtz speaks with Bill Miller, founder of Miller Value Partners. Miller serves as the firm's chairman and chief investment officer, and is also co-portfolio manager for opportunity equity and income strategy. Prior his work with Miller Value Partners, Bill and his partner, Ernie Kiehne, founded Legg Mason Capital Management and served as portfolio managers of the Legg Mason Capital Management Value Trust from its inception in 1982. Bill took over as sole manager in December 1990 and served in this role for the next 20 years.
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Transcript
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| 0:00.0 | There's so much news happening around the world that we're somehow supposed to stay on top of. |
| 0:05.7 | That's why we launched The Big Take. |
| 0:08.3 | It's a daily podcast from Bloomberg and I Heart Radio that turns down the volume a bit |
| 0:14.0 | to give you some space to think. |
| 0:16.4 | I'm Wes Kosova. |
| 0:17.7 | Each weekday I dig into one important story and talk about why it matters. |
| 0:23.6 | Listen to The Big Take on The I Heart Radio app, Apple Podcasts, or wherever you listen. |
| 0:30.0 | This is Masters in Business with Barry Rittoltz on Bloomberg Radio. |
| 0:37.4 | This week on the podcast, what can I say? |
| 0:40.4 | You are in for a treat. |
| 0:42.9 | Bill Miller spends an hour waxing eloquent on everything from why value investing has |
| 0:49.4 | underperformed and what you should do about it, the impact of the Federal Reserve, why |
| 0:55.4 | Bitcoin is a fascinating technology as well as a potential currency substitute, maybe |
| 1:03.1 | for the dollar, maybe for something else. |
| 1:05.7 | This was really an unbelievable conversation. |
| 1:08.9 | I don't want to gush too much. |
| 1:11.3 | But Bill Miller is just one of these people who understands the way markets work, who understands |
| 1:17.6 | how to express what's going on in an investment posture. |
| 1:24.4 | Our funds run a 100% active share, meaning there is zero closet indexing going on. |
| 1:31.7 | They have been one of the top performers since the market bottomed 0809 after the financial |
| 1:37.1 | crisis. |
| 1:38.5 | What can I say? |
... |
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