Can mutual fund investors move past a famous fall from grace?
That is the question at the heart of Charles Stein's Bloomberg article
on the ups and downs of the career of famed Legg Mason
] value fund PM Bill Miller
. The piece details Miller's rise and subsequent fall, even as he puts some strong short-term numbers.
The piece features comments from several Miller watchers, as well as Miller himself. Bloomberg
ponders whether PM redemption is possible in the eyes of mutual fund investors. If anyone can earn it, Miller seems like an obvious candidate. Yet investors, equipped for oodles of data about past performance, may be more like elephants than ever before: Miller co-PMs a $2.5-billion fund now., one-eighth the peak size of Legg Mason Capital Value Trust, for which he passed the reins several years ago.
Neil Anderson, Managing Editor
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