Tuesday, June 3, 2008

Bill Miller

Bill Miller interview. It is interesting. He says everything in my mind that is right and then comes to what in my mind are faulty conclusions. He says that financials lead the broader market, that without credit you cannot get growth, and then comes to the conclusion that we should be bullish. Then he acknowledges the shift in financials from a 50 to 60 year secular bull market into a secular bear market and then comes to the conclusion that he likes financials (at least his financials). He likes his "franchise" financials. Umm, I hope Bear Stearns did not fall into that category. He may be right. I do not know. Just funny to me how we can follow and agree on the same logic and all the points until the conclusion. Thanks goes to Pete.


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