We are living in extraordinary times. We are calling it the Pandemic Pivot: the changes that have occurred or accelerated because of COVID-19 and the dramatic response to it, from economic shutdown to massive life support.
The stock market performance has been largely driven by a small group of well-known mega-cap tech stocks which explains the NASDAQ and S&P 500’s stellar performance and the lagging broader markets. Apple, Microsoft, Google’s parent Alphabet, Amazon, and Facebook make up 40% of the NASDAQ’s market capitalization and 20% of the S&P 500’s.
Is the stunning rally off of the recent March lows durable? Are stock prices running on anything other than Fed fumes?
Yes, says legendary value investor Bill Miller! He will explain why he joins us for the second of our two-part interview with him.
(watch Part One of this conversation)
WEALTHTRACK Episode #1702; Originally Broadcast on July 10, 2020
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WILLIAM “BILL” MILLER III
- Co-Portfolio Manager,
- Miller Opportunity Trust
STAY INVESTED IN STOCKS
“Equities are going to outperform the 30-year Treasury bond, and they’re going to outperform Treasury bills. They’re going to outperform that money you stuck under your mattress.”
– Warren Buffett, Berkshire Hathaway Annual Meeting, May 2, 2020
No Bookshelf titles this week.
FORTRESS BALANCE SHEET
Buy JPMorgan Chase & Co (JPM)
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No EXTRA this week.
