Tips by Bill Miller

The stock market can close down for a while and it really doesn't matter all that much. The primary function of the stock market is not to finance...
Tags: credit, risk
Time arbitrage just means exploiting the fact that most investors – institutional, individual, mutual funds or hedge funds – tend to have very...
Tags: time, investors
Most people say they want to stay within their circle of competence, and that’s smart. But there’s no reason to say “Here’s my circle of...
The secular trend in healthcare is cost containment. How do you slow the growth in the total cost of healthcare as a percentage of GDP? The...
Everyone tends to see the same things, read the same newspapers and get the same data feeds. The only way to arrive at a different answer from...
The hardest thing is to find management that actually objectively behaves in shareholders’ interest as opposed to their own long-term interest....
Many value investors have a very particular view of when things are cheap and when they’re expensive and they should hold cash. They portray holding...
Tags: cash, holding, risk