Latest news with #BillMiller
Crypto Insight
06-07-2025
- Business
- Crypto Insight
Taxing Bitcoin ‘doesn't make a ton of sense' — Fund manager
Governments have no right to tax Bitcoin because managing ownership rights requires no administrative efforts, says Miller Value Partners chief investment officer Bill Miller IV. 'For them to reach their hand in there doesn't make a ton of sense,' Miller told Natalie Brunell on the Coin Stories podcast on Wednesday. Blockchain records ownership, not the government Miller, known for his early Bitcoin advocacy, said Bitcoin doesn't rely on government infrastructure to verify or enforce property rights, unlike traditional assets such as real estate. 'When you buy or sell a house, all that recordation tax, all those taxes go toward keeping track of who owns what,' Miller said. 'The reality is if you think about why you pay taxes in society, it is to enforce property rights,' he added. Miller said this is not necessary with Bitcoin. 'The government didn't create Bitcoin, so that is an important point to keep in mind,' he said, adding: 'The blockchain does that property automation for itself, right?' Earlier this year, rumors circulated that US President Donald Trump's son, Eric Trump, proposed eliminating capital gains taxes on certain US-based cryptocurrencies. Regarding the possibility of Bitcoin being exempt from capital gains tax, Miller said, 'Whether that ultimately happens or not, who knows but it is very cool that there is no wash sale rule on Bitcoin.' When asked if he sees Bitcoin ever having a property tax, similar to how properties are taxed in the US annually based on the market value, he says he isn't sure, but 'there is a good argument for it not to.' Bitcoin tax uncertainty signals 'it is still early' Meanwhile, Miller said traditional asset managers still face hurdles when buying Bitcoin, primarily because of uncertainty around taxation. 'Even as fund managers, we still have huge impediments to actually buying it because taxation rules around bad income if we buy ETFs and sell them at the wrong time, so that all needs to be worked out,' he said. 'That's why I continue to say it is still early because the taxation rules around it are really interesting,' he added. Bill Miller IV is the son of legendary investor Bill Miller III, a fund manager known for beating the S&P 500 for 15 consecutive years at investment giant Legg Mason. In a January 2022 interview, Miller III said he holds 50% of his net worth in Bitcoin and related investments in major industry firms like Michael Saylor's Strategy and BTC mining firm Stronghold Digital Mining. Source:
Yahoo
01-07-2025
- Yahoo
Tennessee ranked 3rd most dangerous state for teenage drivers
NASHVILLE, Tenn. (WKRN) — Speeding, distracted driving and alcohol are putting teenagers at risk on the road, with teen vehicle deaths on the rise. Tennessee is listed among the most dangerous states for teenage drivers. Nashville drivers nearly 20% more likely to crash than national average, report shows Schools are out for the summer, which means more people are hitting the road, including teen drivers. 'They just don't have the experience yet, like anyone that is new to anything that you're doing,' Tennessee Highway Patrol Lt. Bill Miller said. Troopers said teenagers' driving inexperience can be dangerous. According to the most recent data from in 2023, Tennessee had 41 deaths for every 100,000 teenage drivers. 'Tennessee is a very unique state,' Miller said. 'It's growing in population, motor vehicle traffic, we still have a lot of rural highways, which pose problems for us when it comes to young drivers.' Investigators said the top causes for teenage driving deaths are alcohol, distracted driving and speeding. 'The slower you go, the safer you are,' Miller said. They also encouraged drivers to buckle up. 'We see a lot of white young white males drive unrestrained in pick-up trucks,' Miller said. 'We don't know why that is, but it's something we're working hard to find out, educate and correct.' Troopers said parents should talk with their teens about safe driving habits to help prevent a heartbreaking knock at the door. 📧 Have breaking news come to you: → 'When they see us at their door, they know you're not there to give them good news,' Miller said. 'That their world has just shattered. That their kid has been killed in a car crash.' ranked Tennessee as the third most dangerous state for teen drivers behind Mississippi and Kentucky. Alaska is considered the safest state. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
The National
24-06-2025
- Business
- The National
Best photos of June 24: Patients wounded at Gaza aid point to guests arriving for Bezos wedding in Venice
The luxury yacht Arience, owned by US businessman Bill Miller, moored next to Punta della Dogana in the Venice lagoon, northern Italy, as celebrities arrive for the wedding of Amazon tycoon Jeff Bezos and Lauren Sanchez. AFP
Yahoo
07-06-2025
- Yahoo
Traffic ticket text scam impacts Tennesseans
NASHVILLE, Tenn. (WKRN) — The Tennessee Highway Patrol is warning Tennesseans about a new traffic ticket text scam being sent throughout the Volunteer State. The text claims the recipient has an outstanding traffic ticket, and if they don't pay, they will be reported, have their driving privileges revoked, and be sued. The message also includes a link to send the payment. 'It looks very similar to the Tennessee Department of Safety and Homeland Security website, but it is a false website; it is not a correct website. It is strictly designed to try to trick you away from your money,' Lt. Bill Miller with the THP said. 📧 Have breaking news come to you: → The text has been distributed to multiple Tennesseans, including the CEO and president of the BBB of Middle Tennessee. 'I personally received four in 24 hours,' Robyn Householder, CEO and president of the BBB of Middle Tennessee, said. There are a few tell-tale signs the text is a trap, including the fact that it claims it's from the Department of Motor Vehicles, which isn't an agency in the state of Tennessee. Householder also told News 2 to pay attention to how the text is worded. 'Scammers are notorious for spelling things incorrectly or using really poor grammar or only capturing a portion of a company name, so we like to refer to that as scammer grammar,' Householder said. In addition, a governmental agency will never send a warning through a text, nor will the agency use an aggressive tone to pressure the recipient to quickly act. 'Government agencies are not going to lead with threatening you. They're not going to lead with harassing language that creates a space where you think you have to act now,' Householder said. 'That's never going to be the case with a legitimate agency.' ⏩ The BBB said those who receive the text should tap the delete and report as junk option on their phone. In addition, Tennesseans can report texts and other scams to the BBB's scam tracker by clicking here. If you're a victim of this scam, click here for next steps. Copyright 2025 Nexstar Media, Inc. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
Yahoo
01-06-2025
- Business
- Yahoo
Legendary Investor Bill Miller's Fund Is Loading Up on This 6.3%-Yielding Dividend Stock. Here's Why I Plan to Buy More of It, Too.
The hedge fund founded by investing legend Bill Miller and now run by his son initiated a new position in Verizon in Q1. Verizon's appeal includes a low valuation, growing free cash flow, and a juicy dividend. The main knock against this telecom stock is its high debt level. 10 stocks we like better than Verizon Communications › Many investment managers have a hard time beating the S&P 500. Not Bill Miller. When he ran Legg Mason Capital Management's Value Trust, Miller delivered higher returns than the S&P 500 for 15 consecutive years, from 1990 to 2005. Miller founded Miller Value Partners and served as its chairman and chief investment officer through May 2023. He passed the baton to his son, Bill Miller IV, who is carrying on the family legacy. Miller Value Partners' investment portfolio includes 34 stocks. The hedge fund added only three new positions in the first quarter of 2025. What was its biggest new holding? Verizon Communications (NYSE: VZ). Verizon isn't the only telecommunications giant in Miller Value Partners' portfolio. The fund also owns a position in AT&T. However, it reduced the stake in AT&T by roughly 78% in the first quarter. AT&T is now Miller Value Partners' seventh-smallest holding. The younger Miller seems to be trading telecom leaders, though. He initiated a new position in Verizon in the first quarter, buying 198,000 shares. This stake in Verizon was worth $8.98 million as of March 31, 2025. That might not seem like a huge amount, especially considering Verizon's market cap of nearly $183 billion. However, it's a big deal for Miller Value Partners. In one fell swoop, Verizon became the hedge fund's eighth-largest position, making up 4.09% of its total portfolio. Why did Miller Value Partners find Verizon so appealing? Just look at the hedge fund's middle name: value. Verizon's shares trade at a forward price-to-earnings ratio of only 9.2. By comparison, AT&T's forward earnings multiple is 13.4 -- nearly 46% higher. But Verizon isn't a value trap. The company's business is rocking along steadily. Verizon reported year-over-year growth on both the top and bottom lines in the first quarter. Its wireless service revenue of $20.8 billion led the industry. The company had its best wireless retail core prepaid net additions since it acquired TracFone in 2021. Its adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) was the highest ever, with the strongest growth rate in nearly four years. Even better, Verizon's growth could accelerate in the not-too-distant future. The company expects to close its acquisition of Frontier Communications in early 2026. I suspect Bill Miller III and his team also liked Verizon's dividend. In addition to the juicy yield, Verizon has increased its dividend payout for 18 consecutive years. The company appears to be in a good position to keep that streak going, with its free cash flow soaring to $3.6 billion in the first quarter of 2025 from $2.7 billion in the prior-year period. While Miller Value Partners only recently initiated a position in Verizon, I've owned the telecom stock since last year. Why do I like Verizon? For the same reasons that Bill Miller III probably likes the stock. Its valuation is attractive. Its business is solid. Its free cash flow is growing. Its growth should accelerate. And its dividend is high. Is there anything not to like about Verizon? Sure. I'm not enthused about the company's debt load. Verizon had net unsecured debt of $115.1 billion at the end of the first quarter of 2025. On a positive note, this is $11 billion lower than the net unsecured debt in the first quarter of 2024. Verizon's net unsecured debt to consolidated adjusted EBITDA also improved year over year. Additionally, CFO Anthony Skiadis said in the Q1 earnings call that the company has "a clear pathway for meaningful debt reduction ahead of the closing of the Frontier transaction." Overall, I think the pluses for Verizon outweigh the minuses. I plan to buy even more shares of this telecom giant soon. Before you buy stock in Verizon Communications, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the for investors to buy now… and Verizon Communications wasn't one of them. The 10 stocks that made the cut could produce monster returns in the coming years. Consider when Netflix made this list on December 17, 2004... if you invested $1,000 at the time of our recommendation, you'd have $651,049!* Or when Nvidia made this list on April 15, 2005... if you invested $1,000 at the time of our recommendation, you'd have $828,224!* Now, it's worth noting Stock Advisor's total average return is 979% — a market-crushing outperformance compared to 171% for the S&P 500. Don't miss out on the latest top 10 list, available when you join . See the 10 stocks » *Stock Advisor returns as of May 19, 2025 Keith Speights has positions in Verizon Communications. The Motley Fool recommends Verizon Communications. The Motley Fool has a disclosure policy. Legendary Investor Bill Miller's Fund Is Loading Up on This 6.3%-Yielding Dividend Stock. Here's Why I Plan to Buy More of It, Too. was originally published by The Motley Fool Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
