Bill Miller is not your typical value investor. Known for his phenomenal track record as manager of the Legg Mason Value Fund in the U.S., which beat the S&P 500 Index for 14 straight years in the 1990s and early 2000s, Miller's stock-picking style defies conventional wisdom. Whereas traditional value investing teaches that stocks should be evaluated on price, Miller argues that stocks should be evaluated by the worth of the underlying business.
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http://www.morningstar.ca/globalhome/industry/news.asp?articleid=ArticleID421200510301
