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Value King Miller Sees Years of Rally

By Ellen Chang   |   Monday, 26 Oct 2009 08:09 AM

Bill Miller, the well-known Legg Mason Value Trust manager, says the rally will continue for several years.

He predicts the market will see gains even up to the next 10 years, Barron’s reported.

In the future, the market will experience “a long-lasting rally in very high quality mega-caps after this one-year ‘dash to trash.’ … You can buy the best in the market and still outperform for many, many years,” Miller said.

Miller still has over 25 percent of his portfolio invested in the financial sector, Barron’s reported. He has invested in Goldman Sachs, NYSE Euronext, and State Street.

Investors should healthcare stocks right now, Miller said.

“This is the best time to buy health care since HillaryCare,” he said.

Miller is a fan of Aflac, UnitedHealth, and Aetna, Barron’s reported.

Energy and tech stocks are a good buy also.

Miller’s largest holding is in AES, a global power company. He has invested in Hewlett-Packard and IBM also.

Fidelity International’s Anthony Bolton said global markets could stay strong for a “considerable” time, Bloomberg reported.

Since valuations remain “attractive,” investors will buy equities, especially as interest rates stay low, he said.

“Despite the fact that markets have risen well off their lows, I think we’re in a bull market I expect to go on,” Bolton said.

He suggested that investors take an “overweight” approach in technology and financial stocks in the “medium” term.

“It’s a multiyear bull market. I don’t think it’s over yet.”

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Bill Miller, the well-known Legg Mason Value Trust manager, says the rally will continue for several years.He predicts the market will see gains even up to the next 10 years, Barron’s reported.In the future, the market will experience “a long-lasting rally in very high...
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2009-09-26
 

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