Bill Miller (ex Legg Mason)
Posted: Thu Feb 03, 2011 10:55 am
Bill Miller Back on Top as `Great Rotation' Lifts Last Year's Stock Losers
By Michael Patterson
Equities that fell farthest last year are surging the most in a decade, reversing the fortunes of mutual funds and signaling developed countries, banks and Asian exporters will extend the global rally.
It has catapulted Bill Miller's $4.07 billion Legg Mason Capital Management Value Trust to the top of the mutual fund rankings after trailing 98 percent of peers in 2010, data compiled by Bloomberg show.
Miller's fund gained 5.4 percent through Feb. 1 as holdings including San Jose, California-based Cisco Systems Inc. rebounded, putting the 61-year-old manager ahead of 91 percent of his rivals.
Bill characterized 2010 as a very good investment year, but not a good performance year, Mary Chris Gay, assistant portfolio manager of the Legg Mason Capital Management Value Trust, said in an interview yesterday.
We were able to make a lot of investments and increase exposure where we felt there was considerable opportunity.
Source: Bloomberg
http://www.bloomberg.com/news/2011-02-0 ... osers.html
By Michael Patterson
Equities that fell farthest last year are surging the most in a decade, reversing the fortunes of mutual funds and signaling developed countries, banks and Asian exporters will extend the global rally.
It has catapulted Bill Miller's $4.07 billion Legg Mason Capital Management Value Trust to the top of the mutual fund rankings after trailing 98 percent of peers in 2010, data compiled by Bloomberg show.
Miller's fund gained 5.4 percent through Feb. 1 as holdings including San Jose, California-based Cisco Systems Inc. rebounded, putting the 61-year-old manager ahead of 91 percent of his rivals.
Bill characterized 2010 as a very good investment year, but not a good performance year, Mary Chris Gay, assistant portfolio manager of the Legg Mason Capital Management Value Trust, said in an interview yesterday.
We were able to make a lot of investments and increase exposure where we felt there was considerable opportunity.
Source: Bloomberg
http://www.bloomberg.com/news/2011-02-0 ... osers.html