Stockpickr: Bill Miller's Internet Stock Revenge

Two other funds that agree with Miller on VRSN are notorious value investor Private Capital Management, who has probably been invested in more companies sold to Buffett than anyone else. His holdings are always worth a look. And Ivory Asset Management, another value fund that was recently profiled in Barron's. An interesting quote from Ivory is that it doesn't like piggybacking other hedge funds, but that doesn't stop us from taking a look at what he's got going on. Interestingly, Ivory also owns Yahoo!.

And finally, Miller owns Diller's Interactive Corp., (IACI Quote). It owns the fourth-largest search engine, Ask.com, as well as top dating site, Match.com, lender Lending Tree, Ticketmaster, CitySearch and even CollegeHumor.com. IACI is like the GE of the Internet, owning companies that are in the top four of almost every category on the Internet.

The company has almost $1 billion in net cash, has nice growth (about 25% earnings growth is anticipated in 2007 by analysts) and yet only trades for 10 times cash flows. I believe IACI can flirt with 50.

Another great investor in IACI is Wally Weitz, often called the "other Oracle of Omaha" because of his location and his returns.

These are just three of many of Miller's positions that I believe are in deep-value territory for 2007. I'm a strong believer in the ability of great investors to bounce back strong and I believe 2007 will be Miller's year.

To be informed when Miller changes his positions, you can bookmark his portfolio on Stockpickr by rating it with four stars. Then, whenever we update the portfolio, you will be notified via email. Also, if you agree or disagree with any of these positions that Miller holds, comment on the message board for his portfolio.

Another interesting thing to note: Now that he no longer holds his crown, who has the best shot at succeeding him in besting the S&P 500? The current crownholders have a tie at seven years running: Goldman Sachs Growth Strategy Fund, Manning & Napier Pro-Blend fund and the Schneider Smallcap Value Fund.

Check out those funds to see not only their holdings but also the overlap those holdings have with other funds, and to see what funds and positions are highly correlated to these funds.