Bill Miller expects a strong second-half showing from the US stock market.
The Miller Value Partners founder sees a rosy economy and defeated bears driving stocks higher.
"It's entirely possible that we're going to get back to a 2% inflation rate by the end of this year," Miller said during a recent live call hosted by Miller Value Partners.
Miller noted that a robust first-half showing from stocks is usually followed by a similarly strong second half.
The veteran fund manager predicted stocks would head higher, as bearish institutional investors swallow their doubts and pile into equities to catch up to their peers.
Persons:
Bill Miller, " Miller, Miller, Legg Mason
Organizations:
Miller Value Partners, OneMain, Service, Federal Reserve, Nasdaq, Legg Mason Value Trust
Locations:
Wall, Silicon