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Bill Miller Buys Valeant, Sees It Doubling, Likes Financials

  • Fund manager, who comments on CNBC, says he doesn’t hold cash
  • Investor says safe stocks such as utilities will do poorly
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Bill Miller, who is best known for beating the S&P 500 Index for 15 straight years, says he has been buying Valeant Pharmaceuticals International Inc. and financial stocks such as OneMain Holdings Inc.

Miller said on CNBC that he purchased shares of Valeant, the beaten-down drug company, last week partly because of its free cash flow.