Monday, January 6, 2014

Bill Miller - Up 67% In 2013, Up 40% in 2012 - What He Sees For 2014

Most forecasters are warning stock investors not to expect another year of 30 percent gains, as there was in the Standard & Poor’s 500-stock index in 2013. (The average forecast is for a 6 percent rise in the S.&P. 500, according to Bloomberg.) But the two analysts I selected for this column — Abby Joseph Cohen of Goldman Sachs and Bill Miller of Legg Mason, both of whom were remarkably accurate about 2013 — said another year of strong double-digit gains would not shock them. “We could easily see gains of more than 20 percent” in stocks, Mr. Miller told me. “And the market wouldn’t be overpriced at that level.”

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