If there's a Sinatra of mutual fund managers, it's Bill Miller of Legg Mason Value Trus), whose string of hits is unsurpassed. He's beaten the S&P 500 for 15 years running. But this year Miller is way behind. So what are his fans doing? Giving him the boot as though he were an also-ran on America's favorite talent show.
It's not just Miller's shareholders. A surprising number of top managers, including Bill Nygren of Oakmark Select (OAKLX (Charts) and Ron Muhlenkamp of the Muhlenkamp Fund (MUHLX (Charts), a MONEY 65 selection, are in the midst of steep performance slumps, and impatient investors in recent months have been yanking out cash and roasting their heroes.
One Simon Cowell imitator sniped - incorrectly - in an online forum, "Bill Miller has evaporated more money than any other fund manager this year."
Read the complete article
It's not just Miller's shareholders. A surprising number of top managers, including Bill Nygren of Oakmark Select (OAKLX (Charts) and Ron Muhlenkamp of the Muhlenkamp Fund (MUHLX (Charts), a MONEY 65 selection, are in the midst of steep performance slumps, and impatient investors in recent months have been yanking out cash and roasting their heroes.
One Simon Cowell imitator sniped - incorrectly - in an online forum, "Bill Miller has evaporated more money than any other fund manager this year."
Read the complete article
