Navigating Market Challenges

This chapter explores the complexities of managing investments through market volatility, reflecting on past performances and strategic decision-making. The speaker shares insights on resilience and consistency, emphasizing the value of long-term investment success amidst fluctuating conditions. Additionally, it touches on pivotal changes within Amazon regarding executive compensation and its effects on shareholder value.

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Episode notes

IN THIS EPISODE, YOU’LL LEARN:

00:06:41 - Why he views plunging prices and widespread pessimism as signals to buy stocks.
00:08:19 - Why this period has been “extraordinarily painful” for Miller and many of his peers.
00:08:54 - Why war, inflation, and rising interest rates mean we’re in a new investment environment.
00:15:06 - Why he believes the battered stock market looks poised for a rebound.
00:15:32 - How to handle the emotional pressure of brutal downturns in financial markets.
00:17:31 - How he came to be the biggest individual shareholder of Amazon not named Bezos.
00:26:28 - What stocks he’s looking at now that seem wildly cheap.
00:25:13 - Why he’s bullish about Chinese tech and internet stocks like Baidu and Alibaba.
00:49:39 - Why he regards Bitcoin as an insurance policy against financial catastrophe.
00:55:59 - What he thinks Warren Buffett and Charlie Munger don’t understand about Bitcoin.
01:15:58 - Why he has over 80% of his personal investment portfolio in Bitcoin and Amazon.
01:22:36 - What other major investments he owns in his personal portfolio.
01:23:49 - Why he plans to retire at the end of 2022 and what he’ll do with his new-found freedom.
01:34:08 - What gives him satisfaction when he looks back on his career as a legendary investor.

*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.

BOOKS AND RESOURCES

Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Stig, Clay, and the other community members.
Bill Miller’s investment firm, Miller Value Partners.
William Green’s book, “Richer, Wiser, Happier” – read the reviews of this book.
“On a Certain Blindness in Human Beings” by William James
Is Crypto Re-Creating the 2008 Financial Crisis? An interview with Hilary Allen.
A Meeting of Great Minds: Bill Miller & William Green interview each other in 2021.
Preston Pysh’s interview with Bill Miller’s son and successor, Bill Miller IV.
Related Episode: Legendary Investor Bill Miller - TIP247.
Related Episode: Legendary Investor Bill Miller On Stocks, Commodities, & Crypto - TIP180
Related Episode: Investing Legend Bill Miller On Apple, Amazon, Bonds, & Tesla - TIP117.
William Green’s Twitter.

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