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August 8, 2008 - "Lessons From Expert Fund Manager Bill Miller"
Summary: I always find it interesting to hear how legendary investors got interested in the stock market. Hear the story of Bill Miller.
Bill Miller became an investing legend by beating the S&P 500 for 15 straight years, from 1990 to 2005. In 2006, he under-performed the S&P 500 by 9.9%, by 12.2% in 2007, and by 16.6% in 2008 year to date. In the first video hear how Bill Miller got started in investing and how he built his streak. In the second video, hear how he defends the losses his fund has taken. When investing in a mutual fund, you are always betting on the talent and skill of the portfolio manager. It's hard to fathom that a guy this smart, this successful, got it this wrong. Never tolerate huge losses...you can lose your own money without having to pay a management fee! Has Bill Miller lost it or will he eventually get back on track? I say you stay away from the fund until he proves himself again. Don't lost money when there are many other managers like Bruce Berkowitz of the Fairholme Fund, Ken Heebner of the CGM Focus Fund, and David Winters of the Wintergreen Fund that are getting it right.
