Bill Miller: Riding Amazon, Bitcoin, and Dell Computer To Investing Greatness

The Chit Chat Stocks podcast analyzes Bill Miller's investment strategies through case studies, including Dell Computer, the Great Financial Crisis, Amazon, and Bitcoin. Miller's early success with Dell was attributed to recognizing its negative working capital cycle and comparing it to Walmart. His misreading of the Great Financial Crisis led to significant losses due to concentrated bets on distressed financials like AIG and Bear Stearns. Conversely, his investment in Amazon, driven by its capital efficiency and focus on gross profit dollars, proved highly successful. The hosts also discuss Miller's substantial investment in Bitcoin, viewing it as a probabilistic value play despite its speculative nature.