CoronaVirus is one of the 5 great buying opportunities of my life: Bill Miller

"There have been 4 great stock market buying opportunities in my lifetime. The coronavirus has given us the 5th. Shares bought at these prices will prove to be quite rewarding over the next few years, and perhaps a lot sooner. If you missed the other 4 great buying opportunities, the 5th one is now front and center": Bill Miller

Billionaire Bill Miller, who is acknowledged as one of the great investors on Wall Street, has addressed a letter to his investors in which he has described CoronaVirus as a "great buying opportunity".

He has pointed out that during the stock market crash of 2008, Warren Buffett had written an op-ed saying he was buying US stocks and urging others to do so as well.

The timing was perfect because that was the precise bottom of the market.

A few years later, Buffett was asked how he knew that was the time to buy.

He said he did not know the time, but he did know the price at which stocks were a bargain.

"They were a bargain then and, in my opinion, they are a bargain now," Miller has stated.

"The market may have bottomed at an intraday low of 2191 on March 23 or it may not have. I do believe that shares bought at these prices will prove to be quite rewarding over the next few years, and perhaps a lot sooner. If you missed the other 4 great buying opportunities, the 5th one is now front and center," he has advised.

Click here to read the entire letter