Bill Miller (finance)

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Bill Miller is Chairman and Chief Investment Officer of Legg Mason Capital Management, a subsidiary of Legg Mason Inc. managing more than $60 billion of pooled assets and separate accounts. He is a portfolio manager of the Legg Mason Value Trust mutual fund (LMVTX), the after-fee return of which had beaten the S&P 500 index for 15 consecutive years from 1991 through 2005 (consistently market beating returns over the general market is considered to be impossible according to the efficient market hypothesis).

In fact, in 2006 the returns of LMVTX were significantly lower than the S&P 500, at 5.85% vs. 15.75%.^[1]

Miller is a 1972 graduate of Washington and Lee University. He is also Chairman, Board of Trustees, Santa Fe Institute.^[2]

[edit] Quotes

• "Lowest average cost wins."
• "How do I know when I'm wrong? When I can no longer get a quote."

[edit] Footnotes

[edit] External references

• Legg Mason Capital Management
• CNNMoney - Will the market kill Bill?
• Best Fund Managers 2006 - Bill Miller, BusinessWeek.com.
• Lowe, Janet. 2002. The Man Who Beats the S&P: Investing with Bill Miller. Wiley. ISBN 0-471-05490-9.