Patient Capital Management is a Baltimore asset manager founded in 2020 by Samantha McLemore, CFA — Bill Miller's long-time co-manager (working together since 2002, running the flagship Opportunity Equity strategy since 2014). Continuing the Miller-school contrarian tradition, it practices "time arbitrage": exploiting behavioral mispricing to concentrate in controversial growth names (tech, healthcare, Bitcoin-related) at deep discounts to intrinsic value. Its site preserves Bill Miller's complete 1995-2022 market letters, alongside ongoing quarterly letters and webinars.
Samantha McLemore (Founder and CIO of Patient Capital) stated in the Barron's roundtable discussion "Bargains in an Expensive Market" that while overall market valuations are elevated, high-quality overlooked opportunities can still be found through deep fundamental research. She candidly assessed t