One Short-Term Stock to Buy for the Next Tech Revolution

Listen to the audio version of this article (generated by AI). Tom Yeung here with your Sunday Digest. In 1999, the legendary value investor Bill Miller walked out of a meeting with executives from Amazon.com Inc. (AMZN). Miller was convinced he’d found the most capital-efficient retailer ever created. In a Barron’s article, he detailed how Amazon was potentially the future of shopping and concluded that the “payoff for being right is high.” His Legg Mason Capital Management fund bought millions of shares for an average cost of $1.50, adjusted for splits. Miller was right. Eventually. Today, Amazon is worth over $250 a share. The company towers over the retail landscape, dominating areas like books, smart home devices, and household goods. It’s now hard to remember life without same-day shipping. But Miller lost a lot of money on Amazon at first. You see, the fund manager began buying shares right as the dot-com bubble was bursting. Amazon’s stock would fall to $0.30, and Miller’s position was in the red for years. That’s why I warned you about buying quantum computing stocks…