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Legendary investor Bill Miller: Market could be headed for a 'melt-up' of 30%

Legendary investor Bill Miller: Market could be headed for a 'melt-up' of 30%

Finance
Worried about higher interest rates putting a dent on the stock market's rip-roaring rally? Fear not, a rise in rates will actually help stocks, according to legendary investor Bill Miller."Those 10-year yields go through 2.6 percent and head towards 3 percent, I think we could have the kind of melt-up we had in 2013, where we had the market go up 30 percent," Miller, the founder of Miller Value Partners, told CNBC's "Closing Bell" on Tuesday. "If we can get the 10-year towards that 3 percent level, you'll see the same thing.""In 2013, people finally began to lose money in bonds. They took money out of bond funds and put it into equity funds," Miller said.Miller is considered one of the best investors ever, after beating the market for 15 years in a row while working at Legg Mason. Stocks...