You might call Bill Miller of Legg Mason the Notorious B.U.L.L. (Picture from Legg Mason.)
Miller is an optimist, a bull in the parlance of Wall Street. And in the wake of last night's health reform vote, he's bullish on the health care sector, and on Information Technology generally.
Miller said in Hong Kong today he expects health insurers to do especially well in the near term, but he's in technology for the long haul.
His view is that uncertainty has been removed from insurers by the House vote, that insurers will benefit from getting more customers in the near term, and that penalties against the industry don't kick in for years. He said he owns both United Health and Aetna.
Miller has long been bullish, and it has worked for his investors. His value fund doubled in value over the last year, while his more-speculative opportunity fund was up over 200%. (The latter bought bank stocks like Bank of America and Capital One when they were super cheap.)
All of which should mean Miller likes health IT for the longer run. He does. On CNBC in January he pounded the table on behalf of GE, one of the largest health IT names. (It's up 20% since then.) He was also high on IBM, another big health IT player. (IBM is down slightly from January.)
What he said to CNBC in January apparently still holds. "The economy will grow long-term. Profits will grow long-term. The market is not expensive."