Value investor Bill Miller told CNBC on Wednesday he lost 20 percent in a month, but he thinks it’s a good time to buy.
Amazon lost 18 percent in the past month and the stock is a 10 percent holding for Miller, founder, chairman, and CIO of Baltimore-based LMM. But he said it’s not only Amazon. “Everything is going down.”
“It took Bill Ackman and David Einhorn a year to lose 20 percent. I lost it in a month. My fund is down 20 percent in the month,” Miller said on “Squawk Box,” referring to the respective heads of the Pershing Square and Greenlight Capital hedge funds.
Charlie Munger: Invert And Use “Disconfirming Evidence”
Charlie Munger is considered to be one of the best investors and thinkers alive today. His thoughts and statements on investment research, investment psychology, and general rational behavior are often incredibly insightful. Anyone can learn something from this billionaire investor and philosopher. Q2 2020 hedge fund letters, conferences and more If you’re looking for value Read More