Miller Value Partners Deep Value Strategy’s Q1 2024 Investor Letter

Miller Value Partners, an investment management company, released its “Deep Value Strategy” first-quarter 2024 investor letter. Equity markets continued to perform strongly in early 2024, following a successful 2023. The S&P 500 rose by over 10% in Q1. In the first quarter, Strategy returned 1.78% (net of fees) trailing the S&P 1500 Value Index’s 7.59% return and ahead of the S&P 600 Value Index, which was slightly positive. During the first two months, lower valuation and smaller cap stocks lagged the overall equity market. However, in March they took the lead. The Deep Value Select...