Bill Miller Goes for 15 in a Row

It looks like Bill Miller, the manager of the Legg Mason Value Trust mutual fund (LMVTX), will beat the S&P 500 for the 15th straight year. This is one of the legendary streaks on Wall Street, although Miller is cutting it very close this year (see the chart below).
Miller likes to make very concentrated bets. Nearly half of his fund is in its top 10 positions. Even though the fund has value in its name, Miller has no fear of owning aggressive growth stocks. His largest holdings are Nextel, UnitedHealth, Tyco, AES, IAC/Interactive, Amazon, JPMorgan Chase, Google, Aetna and Sears.

Posted by Eddy Elfenbein on December 8th, 2005 at 10:51 am

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