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, joined Barry Ritholtz on his Masters in Business program to discuss the evolution of value investing. She noted that traditional value investing has changed significantly from its past, yet long-term value principles can extend to emerging field