Microsoft and other "old technology" companies are on Miller's radar, as are health-care firms including Abbott Labs, Celgene and Pfizer. He's moderately underweighted in energy companies, calling the sector "more of an insurance policy than anything else."
Integrated oil companies including Chevron or Conoco "are still cheap on a multiple basis, they have good dividend yields, they’ll raise their dividend," Miller said. "They’re not an exciting part of the market but they’re a solid part of the overall market."
In technology, he said General Electric* is "one of our largest positions. GE stock today is lower than it was in October of 2008 at the height of the (financial) crisis."
As for financials, he said it is "amazing" that the assets of JP Morgan, Wells Fargo, Citigroup, Bank of America, Morgan Stanley and Goldman Sachs together are over 60% of GDP.