Wednesday, October 14, 2015

The Stock Market Is Finally Risk-Free Again

October 14, 2015
Bill Miller: Now is a perfect time to buy US stocks

There are no reasons to be bearish about the U.S. stock market, value investor Bill Miller told CNBC on Wednesday.

Things haven't looked this risk-free since that time we were heading into the Great Recession. Isn't that right, Mr. Miller?

December 10, 2008
The Stock Picker's Defeat

Mr. Miller was in his element a year ago when troubles in the housing market began infecting financial markets. Working from his well-worn playbook, he snapped up American International Group Inc., Wachovia Corp., Bear Stearns Cos. and Freddie Mac. As the shares continued to fall, he argued that investors were overreacting. He kept buying.

What he saw as an opportunity turned into the biggest market crash since the Great Depression. Many Value Trust holdings were more or less wiped out. After 15 years of placing savvy bets against the herd, Mr. Miller had been trampled by it.

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