“There have been four great buying opportunities in my adult lifetime. The first was in 1973 and ’74, the second was in 1982, the third was in 1987 and the fourth was in 2008 and 2009. And this is the fifth one,” Miller added.
Investor Bill Miller said during Wednesday’s violent market dive that the current climate is one of the best buying opportunities of his lifetime.
“I think this is an exceptional buying opportunity,” Miller, chairman and chief investment officer of Miller Value Partners, said on CNBC’s “The Exchange” on Wednesday. “I don’t mean to put all the money in at once but I do think layering it in right now is the way to go.”
As Miller, 70, was speaking, the stock market had halted trading because the S&P 500 fell more than 7%, triggering the level 1 “circuit breaker.” Equities cratered on Wednesday as fears about the economic downfall from the coronavirus continued to grow. The Dow Jones Industrial Average fell more than 2,000 points.
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