Bill Miller says he shorted Tesla recently, shorting more today
Jan. 06, 2023 3:40 PM ET
Tesla, Inc. (TSLA) AMZN, GM, COIN, SI
By: Joshua Fineman, SA News Editor
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Legendary investor Bill Miller said he's been shorting Tesla (NASDAQ: TSLA) recently and added to his short on Friday.
"I just don't think it's worth more than the top 5 automakers in the world combined," Miller said in an interview on CNBC. "I think that Tesla is too expensive."
"If it goes up, I'll short more," Miller said.
Miller said he owns General Motors ( GM) and likes it a lot.
Miller reiterated his bullish stance on Amazon ( AMZN) and said that he bought more Amazon shares personally.
"I think it's one of the easiest names in the market," Miller said. "A year ago Amazon was double this price. If it takes three years for Amazon to get back to where it was a year ago, you make 25% a year. I think that will easily beat the market."
"We think AWS alone right now is worth almost the whole price of Amazon," Miller added. "So you get the advertising business, the logistics business, which is a relatively new business, retail, all for free."
The legendary value investor also said he still likes Silvergate ( SI) and Coinbase ( COIN) even as Silvergate plunged 43% on Thursday and has plummeted in the wake of the collapse of crypto exchange FTX.
Miller said he believes that Silvergate ( SI) a year from now will likely trade at least at tangible book value, which would be a 60% to 70% increase from current levels. |
