logician. investor. #bitcoin
wherever you want me to be
Joined August 2010
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Bitcoin and Intrinsic Value
millervalue.com/the-intrinsi…
In 1929, it took 3.5 years for the government to figure out it needed to print boatloads of money 💵 to engineer a recovery. In 2008, it took two months. In 2020, it took weeks. H/t @RayDalio
At an intensive offsite meeting for my son’s online @gtschool - key takeaway is the parent community is next level!! An abnormally high concentration of risk takers and diverse, unique, forward-thinking humans.
Congrats to my dad for making the @Forbes 250 Optimists list. “Perpetual optimism is a force multiplier.” - Colin Powell
“Count me somewhere between bullish and very bullish.” — Bill Miller, Q3 2006
Across 30+ years of managing money, Bill's view was grounded in a simple observation: markets have historically risen over time.
Congratulations to Bill on being named to the Forbes Optimism 250!
#Forbes250 @B3_MillerValue
A government banning an app designed to help people directly communicate is a fundamental human rights issue and would clearly violate the First Amendment in the USA. shame on @GoI_MeitY @mygovindia
Ending the penny is just the beginning Bitcoin fam. the production of fiat money at the smallest increment is uneconomical at $0.04 to produce a $0.01 denominator.
The Senate advanced a bill to kill the penny. The bipartisan Common Cents Act would stop production of the coin, which costs almost 4 cents to mint, and introduce a cash rounding system to cut federal waste. buff.ly/tRwXofZ
Important open letter from @millervalue to @MSCI_Inc regarding its new "operating assets" test, clearly reverse-engineered to exclude digital asset treasury companies from its indices. Worth a read.
millervalue.com/what-belongs…
There's an important truth in this observation -- investors have been fighting "AI" for decades: *aggregated intelligence* as noted in the efficient markets hypothesis, which posits that publicly traded security prices reflect all available info and mkt can't be beat.
My 10-year-old said to me, "Dad I'm glad your job isn't getting taken by AI," so I asked what he meant. "Well, I asked it for help this year with our family's stock contest, and it told me to buy $NKE, which is down more than 40% since then."
My 10-year-old said to me, "Dad I'm glad your job isn't getting taken by AI," so I asked what he meant. "Well, I asked it for help this year with our family's stock contest, and it told me to buy $NKE, which is down more than 40% since then."
Please apply if you're a good fit or flag for someone who might be
Miller Value Partners is hiring! We're looking for a Director of Director of Digital Growth & Engagement to own and execute our digital growth strategy.
More info on the role and how to apply here: bit.ly/3ps2Tzt
#openposition
There's a new version of this post
long-dated yields breaking out to new cycle highs as @USTreasury gets ready to buy $6B of long-dated paper tomorrow
Bill Miller retweeted
Marcus Aurelius nailed it. The moment you are disturbed by insult or pleased by praise, you are still a slave.
Thanks to @watchbmtv for having me on yesterday to talk about the fundamental and personal “why” for bitcoin
youtube.com/watch?v=cxh1OpvE…
bitcoin fam - can we please agree to ignore/block all "bitcoiners" who predict prices meaningfully lower than where we are today with absolutely no fundamental rationale that makes any sense (all of them)?
Absolutely 💯 spot on
For example, most people will operate in a way that maximizes the amount of money they will get and that minimizes the amount of work they have to do to get it.
To see this, just leave someone unsupervised and allow them to bill you for what they have done.
Be especially wary of this conflict of interest when people are advising you on matters that will affect how much money they earn--such as the lawyer who spends a lot of billable hours giving you advice, or the salesperson who advises you on what to purchase while receiving a commission on the amount that you spend. #principleoftheday
What says you @vladtenev
Well here we go. Who's tokenized stocks qualify? $COIN
Who's "stock tokens" don't? $HOOD
Everyone needs to wake up and realize that @coinbase is an onchain company bringing finance onchain and @RobinhoodCrypto is a TradFi company that's been synthetically mimicking onchain for years. They might be trying to compete now, which is great, but $COIN has over a decade head start here and that is going to prove itself out here as we begin adoption in earnest. Time to wake up folks
Someone asked me “why is your phone always on ‘do not disturb?’” Because it’s impossible to be productive if you allow everyone vying for your attention to interrupt your focus (unless your professional focus is full-time client service)
