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alphahow

alphahow
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  • Capital Spending Remains Strong [View article]
    Good one. This also partly bridges the gap between a relatively strong GDP recovery and anaemic job growth.
    Feb 24, 2011. 01:00 PM | 2 Likes Like |Link to Comment
  • Bill Miller's 15 Largest Long-Term Stock Picks [View article]
    To be fair, it is by default very difficult to outperform when a portfolio is that big.

    However I do have a problem with the advocation of low portfolio turnover, which IMHO is a two-edged sword. Of course, it saves a bit of transaction costs, but really at the expense of flexibility in portfolio adjustment. In rough times when market and economic uncertainties dominate, the cost of not reacting fast and bold enough is just too high. Should Bill Miller have foreseen the market crash in 2008, a reasonable turnover should be way above 50%.

    Otherwise, I am sure a smart investor like him gets better from every setback; these stock picks look reasonably good to me.
    Feb 23, 2011. 11:28 AM | Likes Like |Link to Comment
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