Bill Miller Retires From Fund Management
Veteran portfolio manager Bill Miller, founder of Miller Value Partners and manager of the firm’s Miller Opportunity Trust and the Miller Income funds, retired at the end of 2022, reports…
Why Aren’t We All Value Investors?
While the S&P 500 lost 25% of its value from its highest point to its lowest in 2022, most investors didn’t lose nearly that much, maintains an article in Fidelity…
Six Stages of Bubbles
Although asset bubbles have ballooned and popped again and again throughout history, each bubble has unique qualities, and the crypto bubble is no different, contends an article in Enterprising Investor.…
Bulls Have “Narrow Path” to Victory
Wall Street bulls will have a “narrow path” to win in 2023, provided inflation eases quicker than anticipated, says Ed Yardeni, founder of Yardeni Research. “They almost can’t win,” Yarden…
Blackstone’s Heavy Concession Is A Warning
So many investors tried to withdraw their money from Blackstone’s large private property fund (BREIT) in December that the 5% quarterly cap is limiting how much can be withdrawn until…
Value Investing’s Revival Will Benefit Japanese Shares
Foreign investors are turning their attention once more to the Japanese stock market, where shares remain undervalued even as they experience record profits. That makes Japan ripe with opportunities for…
The Biggest Lessons From Our Five Most Popular Podcasts of 2022
2022 was a great year for Excess Returns. We were able to interview some of the smartest people we know and more than doubled our audience as a result of…
Fed’s 2% Inflation Goal Is Not “Credible,” Says Ackman
The Fed’s hoped-for inflation goal of 2% is “no longer credible,” wrote Bill Ackman, founder of Pershing Square Capital Management, in a Twitter thread he posted after Fed Chair Jerome…