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Bill Miller finds opportunities in battered financials
By admin - Posted on June 30th, 2008
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The chairman and CIO of Legg Mason Capital Management says many large-cap stocks are now attractively valued. He has moved to make his portfolio more concentrated, trimming mostly small- and mid-cap holdings.
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Miller
Submitted by Anonymous (not verified) on Thu, 07/03/2008 - 14:10.
Bill Miller reminds me of the go-go managers of the late 60s like Fred Carr, William O'Neill etc., who went from geniuses to fools when the market got tough. In my opinion, Miller was more lucky than good. Anybody can take a ton of risk and outperform in an up market. His poor shareholders in 2008 are not only down big, but have a hefty capital gains distribution to pay taxes on, as Miller sold his winners and doubled down on the losers.
Bill Miller
Submitted by Anonymous (not verified) on Mon, 06/30/2008 - 11:51.
Miller needs to retire while he still has a shred of reputation. He's an arrogant gunslinger speculating with OPM (other people's money). It finally caught up with him.
