Two controversial investment legends made divergent market comments today. On the bullish side was Bill Miller who believes stocks are incredibly cheap and thinks the S&P could rally 20% in the next 12 months. Miller particularly likes the financials. He says:
“Now, stocks are cheap and people should buy good, quality companies at reasonable prices, put them away and ignore the day-to-day fluctuations of the markets. It’s the best time since the early 1980’s to buy.”
On the other side of the trade is investment legend Jim Rogers who says the banks are going to be a bad bet for several more years as they work through the mortgage mess. Rogers is very bearish on the dollar and the US economy, but remains bullish on real assets.