Adrian Miller

MD, Corporate M&A
Philips International

Adjunct Professor (Econ/Finance) @ FDU

personal views, rt ≠ endorsements

[Adrian Miller @amillerstrategy]

@GuyDealership I always tell the salesman prior to seeing the F&I guy, "Tell the guy just do the paperwork. Don't try to upsell me on anything." That makes the process much faster and less stressful.

[Adrian Miller @amillerstrategy]

@GuyDealership @AlpacaAurelius They can be tough to get down.

[Adrian Miller @amillerstrategy]

@GuyDealership However, if dealerships continue to pay the industry-standard "fixed-rate" of Flagged Rate rather than the hours actually worked, that will discourage many from pursuing a career as a tech.

[Adrian Miller @amillerstrategy]

Politicians love promising a "rebirth" of US manufacturing, but the reality tells a different story. Actual investment in new factories has dropped 16% since early 2025, and employment is slipping.

https://t.co/zbzMDuoqvK via @ft

[Adrian Miller @amillerstrategy]

@conorsen @TheStalwart Building muscle or at least maintaining muscle during the GLP-1 protocol is impressive.

[Adrian Miller @amillerstrategy]

@JustinWolfers captures the May employment work concisely: Wowee!!!!
https://t.co/3r0CiwM70r

[Adrian Miller @amillerstrategy]

AI giants aren't just selling chips and data centers anymore—they’re selling their own stock volatility using #ConvertibleBonds.

https://t.co/EjZqCsSlEm via @ft

[Adrian Miller @amillerstrategy]

As Kevin Warsh steps into the Fed chair role, he faces a delicate balancing act: managing his own inflation-hawk views against a committee he’s previously criticized and a president pushing for lower rates.
https://t.co/WpWTG7GXOm via @ft

[Adrian Miller @amillerstrategy]

The private-credit boom is meeting its next hurdle: the insurance market.

Driven by regulatory probes and valuation concerns, insurers are tightening terms and preparing for double-digit premium hikes for boards and executives.

https://t.co/1NtP1y6utV via @WSJ

[Adrian Miller @amillerstrategy]

The AI boom is rewriting the convertible debt playbook.

US convertible bond issuance is on track for a record year, crossing $57bn so far. Companies are capitalizing on high stock volatility to secure low-interest.

https://t.co/P2o0MbF6Xh via @ft

[Adrian Miller @amillerstrategy]

Labor’s share of economic output just hit an all-time low, while the profit share hit a near-record. The divide helps explain why consumers feel so glum, writes @greg_ip

https://t.co/30mPSpEbKs via @WSJ

[Adrian Miller @amillerstrategy]

@markgurman The CEO on CNBC today said people have been asking for a thinner ring for years. Yet, I've been wearing the OR4 and haven't found an issue with the thickness. The only critique is that the metal is too soft. It scratches easily. Taking it off to go to the gym doesn't make sense.

[Adrian Miller @amillerstrategy]

@RudyHavenstein MGS after the Knicks Sweep.

[Adrian Miller @amillerstrategy]

High-grade corporate bonds are yielding a tempting 5.3%, but don't take the bait blindly.

The spread over Treasurys is hovering near 1990s lows—meaning investors are getting almost zero compensation for taking on extra corporate credit risk.
https://t.co/Be66cwpj9O via @WSJ

[Adrian Miller @amillerstrategy]

Is "private money" a recipe for financial risk? 💸

In a new piece for The WSJ, @greg_ip explores why stablecoins—despite their promise of speed and efficiency—pose systemic risks.

https://t.co/NZ44Gxk2hb via @WSJ

[Adrian Miller @amillerstrategy]

@SamRo Nothing is worth those lines.

[Adrian Miller @amillerstrategy]

With U.S. deficits averaging an unprecedented 6.2% of GDP, bond investors are demanding a massive term premium. Essential reading from @greg_ip
https://t.co/tYb4SeZgwE via @WSJ

[Adrian Miller @amillerstrategy]

@SullyCNBC If not for the likely 6-month lock-up period, I'd probably sell at least half my holdings to capture this insane same-day spike.

[Adrian Miller @amillerstrategy]

As Jay Powell’s tenure at the Fed ends, @jasonfurman argues his greatest achievement wasn't just the "soft landing"—it was his "genius" at ignoring political threats to protect Fed independence.
https://t.co/Q4d55JKkNg

[Adrian Miller @amillerstrategy]

Public aggro over private prices: Pimco is pooh-poohing Apollo’s shift to daily valuations, calling it more "noise" than signal. https://t.co/NJ6aZsGQmD via @ft @RobinWigg