Need to Know: Here’s what legendary investor Bill Miller said in his final investment letter

There have been few investors as astute as Bill Miller, the fund manager who famously beat the S&P 500 for 15 years in a row, through to 2005. The value-focused investor’s correct calls over the years have ranged from Amazon to bitcoin.

Miller has spent the last 40 years writing investment letters, first alternating every quarter with his late partner, Ernie Kiehne, and then for the last 30 years, writing one himself each period. Miller, chairman and chief investment officer at his own firm Miller Value Partners, now says…