Miller Value Partners

https://lnkd.in/eP7AseFi

There's an important investing principle: path dependency. When a new technology emerges, there's often a lot of competitors. In the case of Bitcoin, it’s other cryptocurrencies. But what we’ve seen in the past is that despite the other competitors, a lot of the time the first viable technology eventually ends up winning. Bitcoin is the world’s fastest growing monetary technology. And we think we’re still in the early days. Bill Miller IV on #Bitcoin #JRoShow #podcast #investing

Instead of just looking at low price to earnings multiples, Bill Miller would look at addressable markets and potential earnings power 10 years down the road. He made big bets on things that other people may not view as value names. We continue that approach today. We take concentrated positions exclusively in select securities that we think can outperform the index. Our portfolios have a very high level of active share. Bill Miller IV shares more in a recent interview with NYSE First Look. Watch here: https://lnkd.in/ekVWRNkE #investing #valueinvesting #investmentapproach

In his latest letter on our blog, Bill shared that the extent to which big cap stocks have outperformed small caps stocks historically has not lasted indefinitely. And the market's activity in the last week gives evidence that investor's may want to think about how their portfolios are diversified. Read his letter here: https://lnkd.in/eR99new7 Bill will be on CNBC's Closing Bell this Friday, July 26th in the 3pm ET hour to share his perspective on the recent market movements. Tune in to watch. Check back for updates on the interview time.

At the margin, we are seeing some of the most compelling opportunities in energy and financials, whose prices appear to discount a much worse future than we anticipate. Many names in these spaces are well-run and growing with improving returns on capital. Employing a bottom-up process results in portfolios that are meaningfully different from any index. That is a feature, not a bug. #portfoliomanagement #wealthmanagement #investing #valueinvesting #stocks #buyvalue

I see #Bitcoin as the world's fastest growing monetary technology. #Bitcoin is a unique thing that people have a hard time contextualizing. What I keep coming back to is a #ValueInvestorsPerspective: at $1.5 trillion in market cap versus a fiat market approaching almost a quadrillion dollars now, and up and up, $1.5 trillion is still too small. Bill Miller IV on the #JRoShow #podcast #valueinvesting

https://lnkd.in/dWzEjHeB #valueinvesting #income #wealth #stocks #bonds #investing

We believe our portfolios to be an especially compelling opportunity today for investors looking to diversify away from the market’s concentrated skew towards growth, technology, and elevated expectations for sustained growth from some of the world’s largest entities. See what we own: millervaluefunds.com #diversify #investing #valueinvesting #portfoliomanagement #wealthmanagement

As a value investor, as an investor in general, I want to maximize the probability that whatever we own is going to outperform. I kind of think of myself as a little bit of a quantamental investor, in that if you can quantify all of the factors that are likely to create a stock that's likely to go up over the long term and outperform your index, you want to have all of those things in your favor. Bill Miller IV on #outperformingthemarket #investing #JRoShow #podcast

When you think about how you can outperform the market, there's two ways you can do it. One, you can manage the systematic risk or the broad-based market risk and what your exposure to that is. And two, you can manage the idiosyncratic risk of the holdings, so you weight what you own in a different way than what is in the index. That’s what our two ETFs do. One tries to manage market risk and the other tries to manage idiosyncratic risk by taking aligned bets with equities that we view as undervalued and likely to appreciate over the long term from their starting point. More on Miller Value ETFs in this recent interview with Bill Miller IV: https://lnkd.in/ekVWRNkE #ETFs #investing #valueinvesting #risk #riskmanagement #portfoliomanagement