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Bill Miller Still Sees Value in Beleaguered Financial Stocks
Submitted on 12/05/2007
Legendary fund manager Bill Miller can still draw a crowd, even after a couple of disappointing years.
The manager of Legg Mason's Value Trust (LMVTX) fund, who beat the S&P 500 for 15 years in a row until his streak ended in 2006, spoke about his concerns that the mortgage crisis could push the U.S. economy into recession and his views that, in the long term, many financial, consumer and homebuilder stocks are still good investments.
The longer the credit markets stay disrupted, the greater the global risks, Miller observes, and he says that if the Fed and other central banks get really aggressive, they could probably "clear it up really quickly," but they're trying to make sure they don't create inflation problems down the road.
Do the readers think that financials (Citibank etc) are undervalued here ?
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