BILL MILLER: The Underlying Current Of This Market Is Bullish

Legg Mason’s Bill Miller holds one of the longest known streaks for beating the market with his savvy stock picking (15 straight years).

On Friday evening, Consuelo Mack WealthTrack will air an interview with Miller, which will include his outlook on the economy and the markets.

Here’s a teaser from Mack:

“There’s a Chinese proverb or statement, ‘forget about waves and try to find the current’…The underlying current is it’s a bull market…The thing I’m concerned about is if the economy grows too strongly, let’s suppose we start seeing 4% plus quarters this year [n GDP growth] and then unemployment drops rapidly and capacity utilization rises pretty quickly and then you pull forward the Fed’s first interest rate increase. I think that’s where you are likely to run into some heavy going…As long as the Fed pins the short rate around zero and that’s going to continue until around 2015, then the market’s path of least resistance is clearly higher.”

After some rough years during and in the wake of the financial crisis, Miller impressed again delivering a whopping 67% return in 2013.

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