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Deep Thoughts From A Pro-Cyclical Permabull
After being discredited for being a bull market, pro-cyclical permabull, whose "stellar" performance was only courtesy of a multi-decade credit bubble, Bill Miller shares his latest thoughts. Also, nothing like one permabull quoting another permabull to bloster his case.
h/t C-Mac
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"bolster"
i think td meant "bluster":
–verb (used without object)
1. to roar and be tumultuous, as wind. 2. to be loud, noisy, or swaggering; utter loud, empty menaces or protestsMaybe he combined them - bluster+bolster="bloster"
bloster-verb-when a bankster blows another.
case-noun-financial slang for wad.
LOL
McLuvin, simply genius.
But strange that I couldn't confirm this in my Merriam-Webster desktop reference. Time to upgrade to your edition.
Obviously watching all those porno's is finally paying off.
Slightly off topic, but as of 2 minutes ago, the Dow was down -66.66 points. A decline of... -0.66%. Yikes!!!
This guy should get the cover of Barron's!
Oh wait...
Wonder if being on the cover is comparable to the Sports Illustrated cover jinx?
That's the biggest joke. This guy was on the trash heap last year, and now he's a genius again. Barron's is the print version of CNBC.
you know what would be a cool article title
" Deep thoughts from Deep Shah "
or a column name, or investment bulletin ...
i would buy it .... and read it
The 401K complex is a perpetual annuity foisted on the sheeple by the complex. Guys like Miller are necessary props for elongating the myth and steering the masses. In light of the receding flows into equity funds one wonders what role they have played in the equity orchestration? It would be fascinating to see the phone logs of the heads of Fido/Wellington/Putnam etc. re Treasury communications
Bil M. has lost it. He's talking his books which he must keep least (his view) he will never recoup losing everyone’s money last year. He needs the Ponzi to continue.
1. Market cracking on "better than expected" profits?
2. Amazing short squeeze with Amazon?
Time to take coverrr...
yeah right, this is a "bull" market.
DJI dropping within seconds because of massive liquidation and low volume.
pigs may wear lipstick but they definitely don't fly
long bull shit.
Here's how Miller concludes his most recent letter:
“As we sit at our desks pondering the myriad questions
we’re faced with as investors, questions of great
complexity, and ones of undeniable importance to our
future well-being, it probably makes sense to get up and
go outside, where the view is likely to be different, and
clearer, and better.”
Here's the different, clearer and better view Miller has when he goes outside:
http://www.liveyachting.com/the-top-100-superyachts-2009
YACHT NUMBER (70) UTOPIA: 234’11” (71.6M)?http://www.liveyachting.com/motor-yacht-utopia Boat Builder:- Feadship, Holland, 2004?Information on the superyacht owner, country, price, designer etc:-?De Voogt naval architects, designers Redman Whiteley Dixon and Michael McQuiston collaborated?on the design of this yacht, which features an elegant sky-lounge fireplace and a?double-sided staircase with leather handrails by Bentley craftsmen. The helicopter deck can?handle a Bell 427, and the yacht’s crane can launch a submarine. Bill Miller, Chairman of?Legg Mason Capital is the owner.
Sincerely, how serious can BM be quoting Jeremy Siegel's research ?
What is the point of comparing horse races with investing?
Last time I checked the last complete bear market in stocks ran from 1966 to 1982, 16 years. If the ten-year-periods are choosen poorly, there is for twenty years in a row not a lot of return and inflation-adjusted a big loss.
Luckily I am not invested in Legg.
Sweet Jesus, what a poorly written piece of crap that is! If that's the best-reasoned bull case he can put together, then honestly, he ought to retire, or else blow his brains out. I wouldn't wipe my ass with this lame excuse for serious analysis.
As a Kentuckian who didn't lose a shitload of money last year like our buddy pal Mr. Miller, I can attest that he is absolutely right about Big Brown being relevant to the current situation in the stock market:
Big Brown won two triple crown races while on steroids. When the steroids were withdrawn, he finished last.
When he recovers all the money he lost I may take him seriously. Retirement is an option. Take it Bill. Please.