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It's Miller by a nose: Legg Mason fund manager edges SP 500; streak lives

December 31, 2005
Bill Miller needed a late sprint to edge the Standard & Poor's 500 Index in a squeaker that keeps the famed Legg Mason fund manager's celebrated streak alive after 15 years.

Miller's Legg Mason Value Trust Fund rose 5.32% for the year, ahead of the S&P 500's 4.91% return, according to data released late Friday from fund researcher Lipper Inc.

The finish came down to the wire on the last trading day of 2005. Value Trust had trailed the benchmark index late in the year but staged a comeback in the closing weeks of 2005, preserving one of the most closely watched streaks in the investment world.

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