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Bill Miller: A rush out of bonds is about to 'propel stocks significantly higher'

Bill Miller: A rush out of bonds is about to 'propel stocks significantly higher'

Finance
Hedge fund manager Bill Miller warned clients that a rush out of bonds is about to "propel stocks significantly higher.""I believe that if rates rise in 2018, taking the 10-year treasury above 3 percent, that will propel stocks significantly higher, as money exits bond funds for only the second year in the past 10," Miller wrote in a letter dated Jan. 23. "Bonds, in my opinion, have entered a bear market, but one that is likely to be benign for the next year or so."Miller founded Miller Value Partners in 2016 after 35 years as a manager at Legg Mason. There, he managed a fund that beat the S&P 500 for 15 consecutive years through 2005.Given the positive outlook on global economic growth and "partially" appreciated tax cuts, Miller now forecasts an end to the great bull market in bonds....
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...
Roy Miller: Kansas City Chiefs release embattled DT after domestic battery charge

Roy Miller: Kansas City Chiefs release embattled DT after domestic battery charge

Sports
The Kansas City Chiefs released defensive tackle Roy Miller on Monday, two days after he was arrested in Jacksonville, Fla., and charged with domestic battery of his wife. "We did release Roy and we're going to move on from that," Chiefs coach Andy Reid told reporters Monday, declining to answer further questions about Miller being waived. "I can't really talk about anything from a legal standpoint, so I'm going to just leave it at that." Miller, 30, is accused of dragging his wife by the hair, tearing a braid from her head and nearly ripping off her shirt, according to the Jacksonville Sheriff's Office incident report. According to report, the altercation between the 6-foot-1, 301-pound player and Nicole Miller began with an argument after the couple returned home separately. Nicole Mille...
Bill Miller, Josh Brown are the latest Wall Street pros to test the bitcoin waters

Bill Miller, Josh Brown are the latest Wall Street pros to test the bitcoin waters

Finance
Some well-known names in the financial industry are buying bitcoin, and more could come.First, investing legend Bill Miller put 1 percent of his net worth into bitcoin in 2014, according to a Forbes report Tuesday. The digital currency is one of the top holdings in Miller's $ 120 million hedge fund, the article said.Reflecting its volatility, bitcoin in 2014 fell from a high of $ 1,023 in Jan. 2014 to a low near $ 287 in October of that year, according to CoinDesk.That puts Miller's bitcoin return anywhere from 126 percent to 707 percent, based on bitcoin's $ 2,315 price Wednesday.Miller left Legg Mason in August 2016 after 35 years and has since founded Miller Value Partners. The legendary investor's Opportunity Trust Fund Class C shares are up 23 percent this year, more than twice the re...