Wednesday, July 13, 2011

Quote of the Day: Bill Miller

"The S&P 500 is a wonderful thing to put your money in. If somebody said, "I've got a fund here with a really low cost, that's tax efficient, with a 15-to-20 year record of beating almost everybody," why wouldn't you want it?"

~ Bill Miller, Portfolio Manager, Legg Mason, quoted in the Wizards of Wall Street

3 comments:

  1. Miller advocated indexes while his fund was considered a "can't miss" by so many people in the industry. Since 2007, Miller lost plenty to the S&P 500. His candor, before this downfall, is very impressive.

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  2. My guess is this quote is from sometime in the 1990's when Miller was the toast of the investment world.... now he is a pariah.... how quickly things can change and the past is doesn't guarantee success in the future.

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