Amazon stock will double in the next three years, noted investor Bill Miller told CNBC on Monday.
Miller, founder of Miller Value Partners, also said his Miller Opportunity Trust fund is off to a good start this year, after having a "pretty bad" 2018.
He called into the new CNBC show, "The Exchange," hosted by Kelly Evans.
Miller, a star money manager at Legg Mason for decades, is best known for beating the S&P 500 for 15 consecutive years through 2005. His track record more recently, particularly during the financial crisis, has been up and down.
In 2016, he went out on his own, forming Miller Value Partners.
A year later, he bought two mutual funds that he started at Legg Mason. The bigger of the two, Miller Opportunity Trust, beat the S&P 500 in 2017. But the fund trailed the index by about 6 percentage points last year.
Stocks, in late Monday trading, were adding to Friday's massive gains of over 3 percent for the Dow Jones Industrial Average and the S&P 500. The Nasdaq on Friday was up more than 4.2 percent. However, Monday's advance was not nearly enough to bring the Dow, S&P, and Nasdaq out of correction territory.
The two-day rally came after Federal Reserve Chair Jerome Powell on Friday said the central bank would be "flexible" in its approach to monetary policy. Stronger-than-expected employment data also contributed to Friday's sharp gains.
This is a breaking news story. Please check back for updates.
from Top News & Analysis https://cnb.cx/2Ff5BPf
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