By Nicholas Vardy Some people are born smart.
Some people are born lucky.
Some people are smart enough to be born lucky.
– Ed Seykota
William “Bill” Miller, manager of the Legg Mason Capital Management Value Trust, was one of the last rock star mutual fund managers.
Miller and his fund were best known for outperforming the S&P 500 for 15 years from 1991 to 2005.
For this feat, the media revered Miller, whose track record eclipsed even that of the great Peter Lynch, of the Fidelity Magellan Fund.
Miller attributed his outperformance to his unique approach to stock picking.
Miller had been a philosophy graduate student at Johns Hopkins University. …read more
