Bill Miller on Suicide Watch

Discussion in 'Trading' started by capmac, Aug 20, 2008.

  1. capmac

    capmac

    Isn't this guy the 2nd largest shareholder of Fannie & Freddie?
     
  2. 50_Bip

    50_Bip

    Not only that, he was doing a Martingale strategy the whole way down.
     
  3. 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.
     
  4. I don't think he could have done worse if he tried.
     
  5. 50_Bip

    50_Bip

    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?


    http://www.portfolio.com/views/blogs/market-movers/2008/08/12/when-bill-met-freddie
     
  6. Those numbers are absolutely staggering.
     
  7. bkveen3

    bkveen3

    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.
     
  8. They really are. Even in the tech meltdown I never saw a "name" manager get stuck with such a hideous cannonball.
     
    #10     Aug 20, 2008