3 replies to this topic

[Cirrus]

From a secular stand point I find the fact that Bill Miller doesn't own a single energy, basic materials or commodity related issue in his top 25 holdings. I'll add that he was never even invested in the run...he wasn't and still isn't a believer. This is not how major trends end. IMHO there are a lot of 'old head' managers that are in this same situation...a LOT. This will be the fuel for the 2nd secular wave up in the commodity/energy bull in my opinion. It will be competent managers realizing the current world situation/dynamic has changed and they better get long. I wish I knew when the second wave will start but I think it can't be too far off. All IMHO...

Edited by Cirrus, 28 March 2007 - 08:57 AM.

[OEXCHAOS]

Bill has been wrong before, but I note that somehow he found "Valyuh" in some of the major dot.coms when they were playing. He's not afraid to rearrange the value measures to take advantage of what he thinks is a good play. So, it's interesting that he's not playing them. FWIW. Mark

[hiker]

I am still waiting for a price move below $70 to put some in his fund....may never occur, but am being patient

[Cirrus]

Mark, He has had all the resources of Legg Mason behind him. He's there lead story line. Again, he was never on board nor has he been on board the leading sectors and groups. His performance has been waning lately. I agree he's a solid manager but he found PHM a value a while ago. I would wager a majority of managers of most types (mutual fund, hedge fund, pension, etc) are under exposed these sectors. My bet would be less than a market weighting.