Bill Miller, CFA

[mo34]

What an ugly way to make an exit.


"he is leaving at a time when his fund is behind the S&P 500 index for each of the 1-, 3-, 5-, 10- and 15-year periods. In fact, according to Morningstar, it is behind that benchmark over the entire 21 years since 1990 when Miller took over the fund."

 

[cookthebooks]

long housing going into the credit crisis along with a doubledown mid crisis or so on those bets ruins numbers built up over an entire career.

 

[ohai]

Well, he convinced someone to pay him millions of dollars over 21 years. Based on the investment results, I would guess that his job included lengthy periods of golf, boozing and surfing seekingarrangement.com. If you ask me, he must be a genius for somehow pulling this off.

 

[Zesty]

Mean reversion is a *itch!

 

[mo34]

Life is a *itch!
One day you think you’re the MAN .. You beat the market 15 years in a row, you proved EMH wrong, What a high … perfect time to die or retire …. 5 years later you’re a worthless piece of sh*t … crook …

 

[mwvt9]

Reality carries a big hammer.

 

[MissCleo]

He’s laughing all the way to the bank. Malcolm Gladwell would agree just had incredible luck in when he happened to be in the market, i.e. during the biggest bull market well ever. Also he got his CFA back when it was jokishly easy, probably couldn’t have gotten past L II nowadays. He’s fat, ugly, and balding, but at least he’s a millionaire.

 

[former trader]

1982-1999 was the greatest bull market in history. 17% nominal annual returns, 13% real returns. Baby boomers were reaching peak earnings, defined benefit pension plans were being replaced by defined Contribution pension plans, and wall street had a better reputation in mainstreet.

 

[chad. sandstedt]

Barron’s has a good article in this week’s edition:
http://www.emailthis.clickability.com/et/emailThis?clickMap=viewThis&etM…

 

[prophets]

bill miller = bull market beta boy. nothing more, nothing less.

 

[monger187]

And to think, ol’ Bill used to be the prime example for people refuting the idea that you can’t consistently beat the market.

 

[equity_ analyst]

Are you guys really surprised?
I mean have you ever read an interview with the guy?
All he would talk about is how the analysts on staff read classical literature and articles about DNA structures and neuroscience and all this other crap that has nothing to do with analyzing companies or picking stocks.
Instead of going to sell side conferences they send analyst to the freaking Santa Fe Institute to learn about ant colony optimization and take lectures in classical physics.
http://www.santafe.edu/about/people/profile/Bill Miller
So yeah, the guy sucks at picking stocks.
He should send his analysts to a few investigative journalism courses so they can learn how to do real field research instead of trying to think they can outsmart the most efficient market on the planet by quoting Shakespeare and Aristophanes and sitting around at lunch telling each other how smart they are.
Contrast his BS fluff with real researchers and money makers like David Einhorn.
If you want to know how to make money go read his enitre powerpoint on why GMCR is a short.
http://www.marketfolly.com/2011/10/david-einhorn-short-green-mountain.html
And finally, this is a guy that was long Kodak………shakes head, walks away.

 

[ubermensch]

Guys, you know what else this means right? Having a CFA has little to do with being a good investor or analyst.

 

[monger187]

ubermensch wrote:
Guys, you know what else this means right? Having a CFA has little to do with being a good investor or analyst.
Sh*t!