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Was Bill Miller Just Lucky?
Submitted by admin on Tue, 07/22/2008 - 13:31
It’s obvious: People have lost their faith in Legg Mason Value Trust (LMVTX) manager Bill Miller. Not long ago, he was a Wall Street idol. He outperformed the S&P 500 Index for 15 consecutive years by investing in big tech names. Mutual fund investors wanted to invest with him, and money managers wanted to be him. Now, his streak of outperforming the S&P 500 Index is gone and largely undone -- he’s now losing to the market over a trailing 10-year period.
And no one’s letting him off lightly.
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