Author Bio
I love looking at the story behind investments from an interdisciplinary point of view, with an equal appetite for high-growth disruptors and beaten-down value names.
After Charlie Munger said
Bitcoin (CRYPTO:BTC) is, disgusting and contrary to the interests of civilization, at the recent
Berkshire Hathaway (NYSE:BRK.A) (NYSE:BRK.B) annual meeting, some may get the idea that all value investors must hate the world s largest cryptocurrency. Well, as in everything related to the market, the Bitcoin debate is not so cut and dried, even among famous value investors.
For instance, Bill Miller, a very successful value investor and Buffett acolyte, is a Bitcoin bull. Miller invested in Bitcoin in his fund years ago, before being forced to spin out his Bitcoin holdings into a separate account for investors. Miller also invested his personal money in Bitcoin and is now a Bitcoin
Bill Miller Isn’t Buying the Negative Take on SPACs
Recent downdraft has made some good blank check companies into enticing bargains, the value guru argues.
He has made a career out of spotting value. And that’s just what Bill Miller is seeing among SPACs, those red-hot merger vehicles that have recently cooled some, at least for now.
SPACs, the acronym for special purpose acquisition companies, had been on a tear since last year until they began a slide in March, as the number of filings for new ones waned. The Defiance Next Gen SPAC Derived exchange-traded fund (ETF), which tracks these instruments, rose a heady 31% since its October debut to February, then started to lose altitude and now is back to where it began.
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