Once a legend, then a pariah, Baltimore's Bill Miller is staging one of Wall Street's most closely watched comebacks

Wednesday, 15 November 2017, 02:32:58 PM. For more than 30 years, giving your money to Bill Miller at Legg Mason was one of the most reliable ways to turn a profit. He beat the returns on the benchmark
For more than 30 years, giving your money to Bill Miller at Legg Mason was one of the most reliable ways to turn a profit. He beat the returns on the benchmark Standard & Poor's 500-stock index for 15 years running, a feat unmatched among the legends of Wall Street. And his fall from grace was nearly as spectacular. During the global financial crisis of 2007-08, the famed stock picker's bets turned bad, and once-loyal clients took their billions and left. And soon enough, he left the Baltimore investment house that had flourished on his good fortune. "I regret I didn't retire in 2006," Miller joked. "Then I would have had this extraordinary record nobody else ever had. They would have thought I was a genius. By 2009, I was like an idiot." By 2019 or 2029? Well, Miller's working on a record. From a mostly sparse office in Baltimore, he's staging one of Wall Street's most closely watched comebacks. And he has returned to the game with an unusual playbook. He's running two mutual funds - just as stock pickers are losing favor and investors are flocking to index funds. Sarah Gantz One of Legg Mason Inc.'s star stock pickers, Bill Miller, is separating from the Baltimore investment firm where he attained legendary status among fund managers for beating Standard & Poor's 500 index for 15 consecutive years. Miller will buy Legg Mason's share of LMM LLC, a jointly owned investment... One of Legg Mason Inc.'s star stock pickers, Bill Miller, is separating from the Baltimore...Read more
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