Insights from investment guru Bill Miller

Legg Mason Capital Management guru Bill Miller talks to IW about current investor behaviour, dividends, the dreaded double dip and more...

Double dip? I definitely think the financial crisis has changed attitudes to risk and towards debt and so on. But if you look at headlines over the summer, the market pretty much discounted the so-called ‘new normal'. Doing the math on the bond market, what was priced in was something like a 60%-70% chance of actual deflation and a double dip. I think we are getting to a point where it is slowly beginning to sink in there is not going to be a double dip. Wholesale inventory numbers are a little bit better. Inventories-to-sales ratios are still low, which will help GDP. Best Buy's ...