The Big Short

by

Michael Lewis

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Bill Miller Character Analysis

Bill Miller is an investor who is optimistic about Bear Stearns, despite all the warning signs. On the very evening when he’s scheduled to give a positive speech about Bear Stearns (on the same stage as Steve Eisman and preceding Alan Greenspan), the stock for Bear Stearns starts tanking, turning Miller into a tragicomic figure.

Bill Miller Quotes in The Big Short

The The Big Short quotes below are all either spoken by Bill Miller or refer to Bill Miller . For each quote, you can also see the other characters and themes related to it (each theme is indicated by its own dot and icon, like this one:
Outsiders vs. Conformists  Theme Icon
). Note: all page numbers and citation info for the quotes below refer to the W.W. Norton edition of The Big Short published in 2010.
Chapter 10 Quotes

It wasn’t Eisman who upset the tone in the room, but some kid in the back. He looked to be in his early twenties, and he was, like everyone else, punching on his BlackBerry the whole time Miller and Eisman spoke. “Mr. Miller,” he said. “From the time you started talking, Bear Stearns stock has fallen more than twenty points. Would you buy more now?”

Miller looked stunned. “He clearly had no idea what had happened,” said Vinny. “He just said, ‘Yeah, sure, I’d buy more here.’”

After that, the men in the room rushed for the exits, apparently to sell their shares in Bear Stearns. By the time Alan Greenspan arrived to speak, there was hardly anyone who cared to hear what he had to say. The audience was gone. By Monday, Bear Stearns was of course gone, too, sold to J.P. Morgan for $2 a share.”

Page Number: 235
Explanation and Analysis:
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Bill Miller Character Timeline in The Big Short

The timeline below shows where the character Bill Miller appears in The Big Short. The colored dots and icons indicate which themes are associated with that appearance.
Chapter 10
Outsiders vs. Conformists  Theme Icon
Wall Street’s Culture of Overconfidence Theme Icon
The Problems with Capitalism  Theme Icon
Pessimism vs. Optimism Theme Icon
Needless Complexity Theme Icon
...give a speech that day at Deutsche Bank’s headquarters, alongside a famous investor named Bill Miller (who owns a lot of stock in Bear Stearns) and former Federal Reserve chairman Alan... (full context)
Outsiders vs. Conformists  Theme Icon
Wall Street’s Culture of Overconfidence Theme Icon
The Problems with Capitalism  Theme Icon
Pessimism vs. Optimism Theme Icon
Needless Complexity Theme Icon
...Eisman is set to speak, there are rumors that Bear Stearns is in trouble. Bill Miller nevertheless goes on stage before Eisman and speaks briefly about why Bear Stearns is still... (full context)
Outsiders vs. Conformists  Theme Icon
Wall Street’s Culture of Overconfidence Theme Icon
The Problems with Capitalism  Theme Icon
Pessimism vs. Optimism Theme Icon
Needless Complexity Theme Icon
In a Q&A after the Eisman’s speech, Miller says Bear Stearns probably won’t fail, since banks usually only fail when caught in criminal... (full context)