Bill Miller’s Hedge Fund gained 46% with many attributing the success to the recent surges by Amazon and Bitcoin, as well as strategic investments in other high-performing stocks like Avon Products and ADT.
Bill Miller, the legendary investor is bringing his winning experience to the hedge fund business. According to an investor document published by Bloomberg, Miller’s fund that launched three years ago gained 46% in the first six months of 2019. That is enough to make heads turn in the hedge fund industry.
A while back, we reported that Miller allocated 30% of the hedge fund portfolio in Bitcoins. That investment proved worthwhile with Bitcoin exploding to an all-time high in December 2017. The investor is known to gain success by following the same playbook that he implemented during his 30-year run at Legg Mason. He picked beaten-down securities trading at large discounts to their intrinsic value.
The 46% gain in 2019 is partially attributed to the investments made in Bitcoin. On July 26, Bloomberg reports stated that Miller achieved these profits by investing in BTC among other high-performing stocks. Other investments in Miller’s Hedge Fund include security system firm ADT, Amazon, and Avon Products. Read More at CoinSpeaker...