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Permabull Down: Bill Miller Is Out After "Falling Behind Peers"
First the momo stocks go into all out implosion, and right on their heels are permabulls. A few months ago it was that joke of an analyst David Bianco who started colleting jobless benefits, and today we learn that the bigget permabull of all, Legg Mason's Bill Miller is out. From Bloomberg: Legg Mason’s Miller to Exit Main Fund After Falling Behind Peers. But, but, who will CNBC invite to make the bullish case?
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Legg Mason fail.
'But, but, who will CNBC invite to make the bullish case?'
Depends on how much they're paying. Seriously though... Bove seems to be the go-to fluffer these days.
As always they will call one of the three stooges they have on speed dial:
1. Dick Bove - "Mr. Buy the Banks",
2. Doug Kass - "Mr. Gold will be Slaughtered" or
3. Dennis Gartman - "Mr. buy my newsletter".
Or stick with one of the in house puppets, Cramer, Liesman, Ensana or Pisani!
DID MR Gartman JUST PURCHASED ESZ1 AT 1250 TWO DAYS AGO AND *STOPPED OUT* AT 1225 EARLIER TODAY ACCORDING TO HIS STRATEGY???
SOMEONE WHO CAN AFFORD HIS LETTER PLEASE TELL ME IF IT IS TRUE!!
Call Bullard. I mean, he's full of it and his name already rhymes with bulltard.
Bullard the bulltard.
Ninja'ed...
I hope by the end of this that these people will be so completely discredited that no one will even be watching. I think that soon people will vomit at the mention of stocks.
Notwithstanding the financial losses suffered by stock investors from share price drops, there is some real coin to be made on market volatility.
A 30 years bull cycle made many a fuckwit look smart. When the markets get tough , the fuckwits get going.
During a hurricane even turkeys can fly!
Nice.
Well Turkeys are done flying for another 10 years. Only thing thats happening to a turkey until next decade is it gets eaten.
The problem with that joke is that Turkeys can, in fact, fly. Short distances, but when you see a turkey perched in a tree sixty feet off the ground...it didn't climb there.
http://www.youtube.com/watch?v=H-iCPywrmz0
What about when you see a turtle on the top of a fence post?
just wait till all the baby boomer pensions blow up and they're forced to charge the kids in the basement rent. OWS will explode in size.
For those of us in southern Florida that will never happen. Basements here are called indoor pools. I do have a nice lawn upon which one can pitch a tent, however.
Why bother... just interview Liesman. He makes every idiot permabull argument currently circulating.
Erin Bernett was the best thing CNBC had going for it.....now its worthless. Oh, to go back to those days......
Mr. Ken Fisher - always introduced as "billiionaire money manager...."
Bill when you stop by here later today and read what we think of you remember we are your clients' collective id.
dick bove? oh, wait. i thought you said bullsh*t case. my bad.
Robo Trader is looking for a job.......
Doug Kass?
This must be some kind of terrible mistake. Such an action would imply that there is direct linkage between a fund manager's investment performance with his compensation and ongoing employment status.
Speaking of Bill Miller . . . a new shorting indicator?
http://www.slate.com/articles/business/moneybox/2006/08/the_ceo_bought_a_yacht.html
BooooYaaaahh!!
Shake a LEG.
Bill Miller is supposed to be a value investor but his "hybrid" style has been off the reservation quite a bit in the last few years (riding Bear Stearns down to Davy Jones locker). I guess if you run that much (long only) dough you have to be GARPy and an index hugger - which these days means hopelessly tied to beta too.
They can probably get Madoff or Allen Stanford to make the case- friends of CNBC
Just another reason why I'd rather follow Barney Miller for financial advice than Barry Miller.
Well, Barney has the better theme song...
http://www.youtube.com/watch?v=Sx9AQ8ULC28&feature=related
Paulson?
But Bill Miller was a such a great investor when the market went up!
I used to work at Legg Mason.
I was at a Q&A with Bill and asked him "What does a fund manager do?" His reply was,
"That's a ridiculous question, I'll answer the same way (insert famous investor name here) did, 'I come in, I get some coffee read a few things and go to lunch' next question." Bill Miller 2000.
No doubt another Hedge Fund Star is born: 2/20 to the moon!
reversion to mean.
Miller's recent Big Bets have failed so he has to go.
Just shows "past performance is no indication of future performance."
Do you own DD....read...learn...educate yourself.
I will say Miller is one of the most honorable men on The Streeet. Sorry to see him go.
GL to ya Bill!
From the looks of his new yacht, he'll go in style.