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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.