Bill Miller (who? I hear you ask); chairman and CIO of Legg Mason Capital Mgt writes an interesting piece in yesterdays Financial Times article describing his thoughts on where stocks are heading.
He is a classic value investor who may have been caught up in the ebb and flow of the overheated market that crashed not so long ago (distant memories for most observers and particpants in the market today).I would recommend reading the article to get different perspectives on the thoughts of those that have been in the game, although he does seem pretty upbeat on the year ahead.
The greatest reads I find that explain our situation with a rational head and keep things in perspective are those like:
1. Pimco's Bill Gross & Mohamed El Erians newsletters
2. Whitney Tilson from T2
3. Bruce Berkowitz from Fairholme
4. Howard Marks from Oaktree
5. Warren Buffett from Berkshire Hathaway
The great thing about these guys is that the material is available online and free. Also, they run diversified businesses - all quality just like the the LIC's we follow such as CHO, AUI, DUI, MLT.
cho, page-99
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