tag:blogger.com,1999:blog-6798074091942701235.post1912381279435037211..comments2024-03-27T11:08:31.557-04:00Comments on Can Turtles Fly?: Morningstar Bill Miller Interview (April 2008)Sivaram Vhttp://www.blogger.com/profile/06361276466660862882noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-6798074091942701235.post-15584254793252701562008-07-15T10:16:00.000-04:002008-07-15T10:16:00.000-04:00If you follow any type of contrarian strategy, you...If you follow any type of contrarian strategy, you will end up with failures, as well as period of underperformance. Holding Countrywide comes with the territory. If you don't understand that, you don't get his strategy. He isn't a Buffett or Charlie Munger type of investor who tries to avoid capital loss at all costs...<BR/><BR/>The fact that his performance looks weak is due to his last couple of years. He returns have been horrible in the last few years and that's dragging everything down. But I say let's wait a few years and see how he does. Don't forget a lot of people said similar stuff when he was getting hit badly after the tech bust (he held a high concentration of tech stocks). But he came roaring back when the economy rebounded.Sivaram Vhttps://www.blogger.com/profile/06361276466660862882noreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-54605839093230669862008-07-15T00:21:00.000-04:002008-07-15T00:21:00.000-04:00Bill Miller is a monkey with a typewriter.He has u...Bill Miller is a <A HREF="http://wcvarones.blogspot.com/2008/06/bill-miller-monkey-and-his-typewriter.html" REL="nofollow">monkey with a typewriter</A>.<BR/><BR/>He has underperformed the S&P 500 for the past 1-, 3-, 5-, and 10-year periods.<BR/><BR/>He loaded the boat on garbage stocks like Countrywide and kept holding them long after it was obvious they were toast.W.C. Varoneshttps://www.blogger.com/profile/17663570682958847976noreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-3606157802949226462008-07-07T14:46:00.000-04:002008-07-07T14:46:00.000-04:00You Main Man's #10 position as of 3/31/08 (Freddie...You Main Man's #10 position as of 3/31/08 (Freddie Mac) has just cratered w/ a 20% drop today.<BR/><BR/>What does this mean? I dunno....the "intrinsic value" of Freddie Mac just gotten more attractive?<BR/><BR/>Buy! Buy! Buy!Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-65275822564051953302008-07-07T10:02:00.000-04:002008-07-07T10:02:00.000-04:00It doesnt' surprise me that you don't agree with a...It doesnt' surprise me that you don't agree with anythign he says...<BR/><BR/>If you are momentum investor (trend follower), you are better off following others...Sivaram Vhttps://www.blogger.com/profile/06361276466660862882noreply@blogger.comtag:blogger.com,1999:blog-6798074091942701235.post-65354365800303126832008-07-06T23:44:00.000-04:002008-07-06T23:44:00.000-04:00There is almost nothing that Miller said that I ag...There is almost nothing that Miller said that I agree with.<BR/><BR/>But, to hedge myself, I have set a trend filter on his fund to make sure I jump on his bandwagon when the bloodletting stops and the trend starts to reverse.<BR/><BR/>That is assuming he's hasn't been fired before this bear market ends. The 2Q fund withddrawal would be quite telling.<BR/><BR/><BR/>In the meantime, watching his trainwreck of a portfolio and the daily NAV drop is quite entertaining. I'm really looking forward to how he explains himself in his 2Q commentary. I do hope, however, he would say something more than "it happened once before, so trust us, wait until next year!"Anonymousnoreply@blogger.com