Hopeful for 2003Bill Miller, manager of the ( LMVTX) Legg Mason Value Trust fund, which is on track to beat the S&P 500 index for the 12th year in a row, has even higher hopes for next year's performance. "We're positioned with zero cash and are looking at high-beta stocks, which will lead the recovery," Miller says. (Beta measures the volatility of a stock relative to the market. High-beta stocks would have greater highs and lower lows than the overall market.)
The industry has a bone to pick with greater frequency of disclosure.
The skipper is finding plenty of companies with P/Es south of 10 and dividend yields north of 5%.