Bill Miller on the Classical Value Portfolio (Podcast)
Masters in Business
00:00
Is the Market Connected From Reality?
Since those lows, markets are up about 44% in one of the fastest recoveries we've ever seen. The idea that this market is somehow disconnected from reality because it's actually gone up and economic growth was going down at the same time is very consistent with history. And so as I like to say, the market predicts the economy. The economy does not predict the market. So if the market did bottom in the second quarter as it appears it did, then that means that it's getting better.
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