I must confess I am not too familiar with Bill Miller. At first I thought you may have been referring to that baseball player who tried to turn into an investor guru (had a website Nails Investments) and became a friend of Cramer. You know the one that started the defunct magazine Player's Club, and a bunch of other disasters. He had some investing plan, of using in-the-money options and while the theory was sound, his investments went spectacularly bust in the financial crisis. As well as the rest of his plans by 2009.
Bill Miller is like Peter Lynch or Warren Buffet. A big figure in investment society. He was a legend. But there were or are some things never happened before: Dot come #1 MBS collapse in 2008 Meme stock trading 2022 Rise of SPAC in 2022 Cathie Wood is just part of the Dot Com #2. Not new.
I believe this was the great NY Mets & Philadelphia Phillies centerfielder Lenny Dykstra. His nickname in baseball was "Nails". He was part of the 1986 NY Mets that won the World Series. I think Bill Miller was the great 3rd baseman for the SF Giants & Bosoxs.
I mean, over the short and medium term shes gonna take heat, but mid to long term, shes gonna do well. Buit there have been one too many dips she has barrelled into loading up the carts. Her price average must be waaay above market by now
Why do you say that? If TSLA, ROKU, PLTR etc all has a 50% correction from now, she is going to do well in long term? How long is the long term? But remember that when Cathie buys the dips, she probably is not using new money to buy the dips. She would be selling some winners to buy those losers. I guess this is how she sold out her GOOG and probably AAPL, MSFT positions to buy those cheap stocks.
Few, including Cathy, identify the distinction: Betting on innovation, is quite different than betting on individual stocks, that may use innovation. By 1900 there were a 100 car companies utilizing innovation, but most went away. Cathy might consider how civilization progresses, rather than claiming the world / market, is mis-pricing all her holdings.
Cathie Wood bets on future and she does not care about the valuation. How many companies failed from the dot.com bubble #1. Certainly Amazon came out strong. Same with MSFT. But even Cisco is not going where. Oracle and SUNM are the history. Look at the PTON. And a lot more. We do not know if FB will die like Yahoo. But everything comes with some valuation. Even TSLA is not invincible.