Vic Miller leaving Bear Stearns


Victor Miller analysts at Bear Stearns and 21 years covering the broadcasting business is leaving Wall Street. Miller notified RBR-TVBR late last night with an email saying it has been fun but time to move on and pursue interests that are more closely aligned with his faith-walk. RBR-TVBR shares Vic’s memo to all of you. 

Memo from Victor Miller
Dear Broadcasters, Portfolio Managers and Analysts,
After 21 years of covering the broadcasting business from the banking (Chase Manhattan Bank) and sell-side research (Bear Stearns) perspectives, I have decided to leave Wall Street in pursuit of interests more closely aligned with my faith-walk. 

First, thanks to all the clients who have treated me and the broadcast team so well over the last twelve years.  Your support of Bear’s Media Team, our Media Conference, your participation in our conference calls and management visits and willingness to cast commission and Institutional Investor votes for our work has been humbling to say the least.  It has been an honor to serve and get to know you, many on a personal level.  I extend blessings to you as you continue to seek to earn superior returns for your investors. 

Second, thanks to all of the management of the companies and industry leaders we have gotten to know over the years.  Thanks for your time and investment in us.   Thanks for addressing the endless number of questions.  Thanks for entertaining debate on the state of broadcasting.  Thanks of allowing us to express our concerns.  And thanks for at least considering our advice and counsel!  I want you to know that I love the TV and radio broadcasting business and have enjoyed taking the ride with all of you.  I extend blessings to you as you continue to be good stewards of the broadcasting industry and your companies.

Lastly, to all the investors, management and industry leaders, thanks also for the time you invested and will continue to invest in our broadcast team (Chris Ensley, Tracy Young and Martina DeSimone).  We are forever, and continue to be, grateful. 

While I will miss you from the analyst perspective, do not think you have heard the last from me!  I hope that you will continue to take a phone call or email from me as I start on my new venture, wherever that takes me!  I look forward to maintaining a dialogue with you.

Blessings in all that you do.  It has been a distinct honor to work with you and serve you.  Know that you have been a blessing to me.