IT'S NOT JUST YOU: BILL MILLER SUDDENLY LOOKS FALLIBLE
IT'S NOT JUST YOU: BILL MILLER SUDDENLY LOOKS FALLIBLE fal·li·ble
adj.
1. Capable of making an error: Humans are only fallible.
2. Tending or likely to be erroneous: fallible hypotheses.
Once anointed "Anointed" redirects here. For the process of anointing, see Anointing.
Anointed is a Contemporary Christian music duo consisting of siblings Steve and Da'dra Crawford. Their musical style includes elements of R&B, funk, and piano ballads. the "greatest money manager of our time" by Fortune, Bill Miller beat the market for 15 consecutive years--the only mutual fund manager to do so. Given his record, the chief investment officer of Legg Mason Capital Management seemed to be a one-man refutation ref·u·ta·tion also re·fut·al
n.
1. The act of refuting.
2. Something, such as an argument, that refutes someone or something.
Noun 1. of the efficient market theory. But when it comes to investing, the law of gravity - For the natural phenomenon by which all objects attract each other, see gravitation.
Law of Gravity is the fifteenth episode of the of the television series . still applies. After underperforming in 2006 and 2007, Miller's returns fell off the cliff in 2008 when his flagship Legg Mason Value Trust dropped 58%.
Miller, a former Army intelligence officer, was early in expanding the definition of value investing Value Investing
The strategy of selecting stocks that trade for less than their intrinsic value. Value investors actively seek stocks of companies with sound financial statements that they believe the market has undervalued. . In the mid-1990s he began buying technology stocks and later Internet companies on the theory that they had the dominant market shares and high returns on capital value investors love. In 2008, though, Miller's bets on tech giants such as Amazon.com and financial firms like Merrill Lynch and Countrywide Financial proved disastrous.
In a November letter to fund investors, Miller, 58, said the Treasury Dept. and Federal Reserve erred by letting Lehman Brothers go under, and by largely wiping out shareholders when it rescued Fannie Mae and Freddie Mac. He said he's actively working on new strategies to improve performance at his funds.
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