When Bill Met Freddie

On December 31, Freddie Mac shares were worth $34.07 apiece, and Bill Miller owned 15 million of them.

By March 31, Freddie Mac shares had fallen 25% to $25.32 each, and Bill Miller owned 50 million of them.

As of July 31, Freddie Mac shares had collapsed all the way to $8.17. And Bill Miller owned 80 million of them.

Anybody else getting the impression that Bill Miller is one of the world’s worst bear market fund managers?

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