Value investor Bill Miller said he's doubling down on Amazon after a brutal year and growing his short position on Tesla.
Value investor Bill Miller said he's doubling down on Amazon after a brutal year, and growing his short position on Tesla . The widely followed investor said the e-commerce giant is a no-brainer in the market right now after losing nearly 50% in 2021. Miller said he recently bought more Amazon shares. His hedge fund Miller Value Partners held 695,000 shares, worth about $78.5 million, at the end of the third quarter.
" AWS, Amazon's cloud-based segment, is worth almost the whole price of Amazon, Miller said. "I think that Amazon this year will report all-time record profits. I think in terms of quality and a management team that is absolutely as good as it gets," Miller said. Shares of Amazon have risen more than 2% in the new year. Miller's view on Tesla is a different story. The investor said he has betted against the stock recently and added to his short position on Friday.
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