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Bill MIller: Fine Line Separates Gambling from Investing

October 24, 2005

Walter Clyde "Puggy" Pearson, a 76-year-old professional gambler, poker player and former World Series of Poker champion, once made this observation: "Ain't only three things to gambling knowing the 60/40 end of the proposition, money management and knowin' yourself".

When Bill Miller, manager of the high profile Legg Mason Value Trust, heard the quote he commented: "It's all you need to know about investing".

Miller is recognized as one of the top money managers in the world. The trust he manages set a financial world record by beating the S&P 500 an unprecedented 14 years in a row.


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