Permabull Down: Bill Miller Is Out After "Falling Behind Peers"

Tyler Durden's picture

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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GeneMarchbanks's picture

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.

Pladizow's picture

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!

oh_bama's picture

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!!

lolmao500's picture

Call Bullard. I mean, he's full of it and his name already rhymes with bulltard.

qussl3's picture

Bullard the bulltard.

Ninja'ed...

been there done that's picture

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. 

 

prodigious_idea's picture

Notwithstanding the financial losses suffered by stock investors from share price drops, there is some real coin to be made on market volatility.

equity_momo's picture

A 30 years bull cycle made many a fuckwit look smart.  When the markets get tough , the fuckwits get going.

Pladizow's picture

During a hurricane even turkeys can fly!

equity_momo's picture

Nice.

Well Turkeys are done flying for another 10 years. Only thing thats happening to a turkey until next decade is it gets eaten.

jdelano's picture

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

GeezerGeek's picture

What about when you see a turtle on the top of a fence post?

scatterbrains's picture

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.

GeezerGeek's picture

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.

dwdollar's picture

Why bother... just interview Liesman. He makes every idiot permabull argument currently circulating.

CORNGUY's picture

Erin Bernett was the best thing CNBC had going for it.....now its worthless.    Oh, to go back to those days......

TooBearish's picture

Mr. Ken Fisher - always introduced as "billiionaire money manager...."

pepperspray's picture

Bill when you stop by here later today and read what we think of you remember we are your clients' collective id.

greased up deaf guy's picture

dick bove? oh, wait. i thought you said bullsh*t case. my bad.

jcaz's picture

Robo Trader is looking for a job.......

Cdad's picture

But, but, who will CNBC invite to make the bullish case?

Doug Kass?

Astute Investor's picture

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.

Mercury's picture

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.

azzhatter's picture

They can probably get Madoff or Allen Stanford to make the case- friends of CNBC

FubarNation's picture

Just another reason why I'd rather follow Barney Miller for financial advice than Barry Miller.

 

 

Scalaris's picture

But, but, who will CNBC invite to make the bullish case?

 

Paulson?

I am a Man I am Forty's picture

But Bill Miller was a such a great investor when the market went up!

Enceladus's picture

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!

 

PulauHantu29's picture

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!

prodigious_idea's picture

From the looks of his new yacht, he'll go in style.