Synopsis
Want to learn about an investment combining the upside potential of stocks with the stability of bonds? Then let Greg Miller explain how the disastrous investing history of his father and grandfather taught him to build his own wealth - and that of over 2,000 of his firm's clients - with convertible bonds. After you read Outrunning the Bear, you'll wonder why your financial advisor never told you about this investment and its uniquely favorable risk/reward properties.
Many people think convertible bonds are some new-age Wall Street concoction. In fact, they date back to the middle of the 19th century, when they were used to finance the Internet of that era, more commonly known as railroads. Since that time, companies large and small have used them to raise capital in all kinds of market conditions.
Miller shows how disciplined buyers of convertible bonds can participate in the lion's share of stock-market gains while avoiding much of the pain of the inevitable downturns. The key to building wealth over time, Miller shows, is finding a way to stay invested in both bull and bear markets. Most investors buy and sell at exactly the wrong times, primarily because their portfolios are heavily weighted toward stocks. Convertible bonds, unlike stocks, offer principal protection and thus beat stocks in down markets. They outrun the bear.
All too often, investors follow the latest popular advice, only to end up disillusioned and often poorer. If this sounds familiar, you owe it to yourself to read Outrunning the Bear by Greg Miller, the co-founder of Wellesley Investment Advisors. With a proven strategy, a well-balanced perspective, and an investment philosophy measured by venerable financial-information provider Thomson Reuters, Outrunning the Bear offers a straightforward approach with the goal of producing consistently outstanding results.
In Outrunning the Bear, investors will discover the benefits of convertible bonds. Blending the upside of stocks with the stability of traditional bonds, convertibles are the cornerstone of Miller's proven strategy. Readers of Miller's guide to this powerful yet remarkably simple investment strategy will also gain insights from his informative charts and fascinating anecdotes.
About the Author
Greg Miller co-founded Wellesley Investment Advisors (WIA) in 1991 to help clients address the challenge of pursuing investment performance while protecting their portfolios. He is the firm's CEO and Co-Chief Investment Officer and a Co-Fund Manager for the Miller Convertible Fund. Greg is the architect of the firm's investment strategy and a national expert on convertible bonds. Under his leadership, WIA has become one of America's leading investment management firms, providing hands-on convertible bond investment management services to high net-worth individuals, institutions, pension plans, RIAs and other investment professionals.
Recognized as a thought leader in the investment management world, Greg is a frequent guest speaker at various investment conferences and events. He has authored numerous articles and has been profiled in various prominent investment and financial publications, including Barron's, Institutional Investor, Investment Advisor Magazine, and Bloomberg. Greg has been a guest lecturer at Babson College and Boston University. He was recently ranked a Top 100 Independent Financial Advisor by Barron's for the third consecutive year. Greg is a CPA who practiced public accounting for over 20 years (including at PricewaterhouseCoopers), a background he finds invaluable as the head of the investment team at Wellesley Investment Advisors.
Greg graduated from Boston University with a Bachelor of Science degree in Business Administration, and holds a Master of Business Administration in Finance with high distinction from Babson College.
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