BondGuy

Bill Miller on This Tough Market

There will come an era when even Warren Buffet will be proved wrong, and financial columnists will no longer reflexively resort to quoting him when they have not a single original thought to offer. I hope that day is nigh; it can't come too soon.

Bill Miller on This Tough Market

The 20th Century was the American Century. We won two wars while the rest of the world was devastated, and went from an agricultural country to the greatest industrialized power in the world. No surprise about the huge returns to the US stock market in that epoch. Now, ask yourself, what are the odds that the 21st century will be equally favorable to the USA, and its stock market? The performance of stocks in 21st century will in all likelihood be MUCH lower than they are telling us.