The following commentary comes from an independent investor or market observer as part of TheStreet's guest contributor program, which is separate from the company's news coverage. The opinions expressed are those of the author and do not represent the views of TheStreet or its management.
NEW YORK ( Insider Monkey) - Bill Miller was on top of the investment world just five years ago. Since then his $3.85 billion Legg Mason Capital Management Value (LMVTX) mutual fund lost nearly 40%, whereas the SPY had a slightly positive return.
Insider Monkey, your source for free insider trading data, doesn't need to run regressions to know Bill Miller damaged his pristine reputation with this disastrous performance.
Despite his poor performance, investors still gave him billions of dollars in hopes he might get his groove back. Bill Miller's top 25 holdings at the end of 2009 returned 16.1% until last Friday. This might seem satisfactory to most investors, but a low cost index fund such as SPY returned 22.6% during the same time period.Bill Miller couldn't beat the market in 2010, but his performance so far in 2011 reminds us of his old glory days.
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV