Discussion in 'Trading' started by capmac, Aug 20, 2008.
Isn't this guy the 2nd largest shareholder of Fannie & Freddie?
Not only that, he was doing a Martingale strategy the whole way down.
That's how most MMs get a big reputation... "getting away with it" on big risk... until the time it doesn't work, of course.
Miller is a menace to his investors and needs to be removed.
I don't think he could have done worse if he tried.
When Bill Met Freddie
On December 31, Freddie Mac shares were worth $34.07 apiece, and Bill Miller owned 15 million of them.
By March 31, Freddie Mac shares had fallen 25% to $25.32 each, and Bill Miller owned 50 million of them.
As of July 31, Freddie Mac shares had collapsed all the way to $8.17. And Bill Miller owned 80 million of them.
Anybody else getting the impression that Bill Miller is one of the world's worst bear market fund managers?
Those numbers are absolutely staggering.
I feel bad for the guy. A lesson to all. Don't let money define you. Or when you lose it you'll lose yourself.
They really are. Even in the tech meltdown I never saw a "name" manager get stuck with such a hideous cannonball.
Separate names with a comma.