kevinm

An Open Letter to Bill Miller

Bill Miller giving advice to Yahoo or anyone else is a knee-slapper! His performance for the YTD, 1 year, 3 years, 5 years and 10 years is abysmal. How does he have time to give advice to others?

He has no risk control mechanism. He obviously does not understand the companies in which he invests. How else do you load up on the home-builders and financials at MUCH higher prices, thinking they are "cheap"?

He has no concept of diversification, taking concentrated positions in these companies that he does not understand.

He has no sell discipline. Not only does he ride the losers down, but he buys more and increases the losses!

When Bill Miller gets fired, THEN it may be time to consider buying the financials--when the last person finally realizes the truth about the "legend" they will probably be near a bottom.