Legendary fund manager Bill Miller can still draw a crowd, even after a couple of disappointing years.
The manager of Legg Mason's (LM) Value Trust (LMVTX) fund, who beat the S&P 500 for 15 years in a row until his streak ended in 2006, spoke to the press Tuesday about his concerns that the mortgage crisis could push the U.S. economy into recession and his views that, in the long term, many financial, consumer and homebuilder stocks are still good investments.
Value Trust is well off the S&P's performance this year, too. But to underscore how exceptional that 15-year run is, the funds with the longest active streaks beating the S&P 500 are at only eight years.
Miller's exceptional long-term performance means, among other things, that a lot of market watchers pay attention to what he says.
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