Value investor Bill Miller says he’s doubling down on Amazon after a rough year, and increasing his short position in Tesla. Investors who are widely followed say the e-commerce giant is a no-brainer in the current market after losing nearly 50% in 2021. Miller said he recently bought more Amazon stock. Hedge fund Miller Value Partners held 695,000 shares of the stock, valued at approximately $78.5 million, at the end of the third quarter. “I think it’s one of the easiest names on the market,” Miller said on CNBC’s “Close Bell” on Friday. “If it takes three years for Amazon to get back to where it was a year ago to make 25% a year, I think it will easily beat the market.” AWS, Amazon’s cloud-based segment, costs almost as much as Amazon, Miller said. “I think Amazon this year will report all-time record profits. I think the quality and the management team are really good,” Miller said. Amazon shares have risen more than 2% in the new year. Miller’s view of Tesla is a different story. Investors said they had bet against the stock recently and added to their short positions there. “It’s a phenomenal company, but it’s not worth $380 billion in my opinion,” Miller said. “Tesla is now losing market share. They are cutting prices.” Shares of the electric vehicle company led by Elon Musk have fallen another 8% in 2023, adding to last year’s 65% loss. Miller said he will continue to grow short bets on Tesla if the stock rises again.