TIP247: Legendary Investor Bill Miller (Business Podcast)

We Study Billionaires - The Investor’s Podcast Network

Stig Brodersen

Education, Investing, Business

4.6 • 3.6K Ratings

🗓️ 16 June 2019

⏱️ 43 minutes

🔗️ Recording | iTunes | RSS

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Summary

On today's show we talk to legendary investor Bill Miller. Miller holds the record for 15 consecutive years beating the S&P 500 as a mutual fund manager. Since 2009, Miller has outperformed the market by achieving a 20.4% annual return.

In this episode, you'll learn:

How Bill Miller thinks about the Trade War and the implications for the stock investor
How Bill Miller are sizing his equity positions
Why Bill Miller is fully invested in stocks right now
Why the traditional value investing approach has been broken since the 1990s
Ask The Investors: How can value investors use momentum strategies?

BOOKS AND RESOURCES MENTIONED IN THIS EPISODE

Download your free audio book at Audible.
Find the best job candidate at Ziprecruiter.
Move your business to the cloud with Netsuite.
Grow your wealth without sacrificing your values with Swell.
Let Commonwealth Bank tell you what you need to know, when you need to know it.
Bill Miller's Investing Website
Bill Miller's Deep Value Strategies

See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Transcript

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0:00.0	You're listening to TIP.
0:02.6	On today's show, we bring back legendary investor Bill Miller.
0:06.3	Bill holds the record for the most consecutive beats of the S&P 500 index with 15 years straight
0:12.8	outperformance when he was managing the leg mason capital management value trust fund.
0:17.4	Today, Bill is the founder of Miller Value Partners and manages over $2 billion.
0:22.4	Since 2009, Miller's flagship opportunity trust has produced annualized gains of 20.4%
0:29.6	annually after fees. So without further delay, we bring you Mr. Bill Miller.
0:38.6	You are listening to THE Investors Podcast.
0:41.4	Where we study the financial markets and read the books that influence self-made billionaires
0:46.0	the most. We keep you informed and prepared for the unexpected.
0:51.2	Welcome to THE Investors Podcast. Preston, I couldn't be more excited. We're so honored to
1:05.0	introduce your legendary investor Bill Miller once again here on the show.
1:09.3	Bill, welcome to THE Investors Podcast.
1:11.9	Thanks, it's a great pleasure to be here. Thanks for having me back again.
1:14.9	Well, Bill, we're very excited to have you back here on the show. So we had our audience help us
1:20.0	out with the questions for today's show. And we're really excited to jump right into these.
1:23.3	So the first question, let's talk about shocks to the market. We could have a shock to the system
1:28.8	like Brexit, trade wars, tax cuts, you name it. How do you approach the evaluation of a stock if you
1:36.1	think that maybe the market's overreacting to this news? One specific example that we could talk
1:41.6	about is a company called Micron Technologies, which you see right now trading what's digging I would
1:47.4	believe to be a pretty significant discount. But the discounts based on the market's reaction to
1:54.4	the trade war. We don't have to talk specifically about Micron Technologies. You could apply this to
	...

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