Bill Miller: Most Big Stocks Are Undervalued

Fund management icon Bill Miller says stocks are undervalued, particularly shares of the 10 biggest companies in the Standard & Poor’s 500 Index.

“I think there's a lot of value in the overall market right now,” he told CNBC.

That’s because the economic recovery has just begun, Miller says.

He expects GDP growth to have totaled 4 percent in the fourth quarter, and he sees the economy expanding as much as 4.5 percent in 2010.

Corporate profits will soar 25 percent this year, Miller predicts. (more)