Bill Miller, whose 15 year streak of beating the Standard & Poor's 500 stock index is on the verge of ending this year, said on Monday he still likes the stocks he owns and thinks they will bounce back next year.
Miller's $20.3 billion Legg Mason Value Trust Fund , currently ranked the industry's worst performing large cap value fund, according to research firm Morningstar, was pulled down over 10 percent when Miller's Internet retailers, home builders and health insurers soured this year.
But in 2007 Miller, the only man to have beaten the broader stock market for 15 years in a row, expects stocks such as UnitedHealth Group Inc.(UNH), Aetna Inc. (AET), KB HOME (KBH) and Pulte Homes Inc. (PHM) to recover.
"Next year, they will do well," Miller said at the company's annual investment symposium in New York, explaining that health care providers suffered this year both because they had done well in previous years and because an options scandal at UnitedHealth weighed down the sector.
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Miller's $20.3 billion Legg Mason Value Trust Fund , currently ranked the industry's worst performing large cap value fund, according to research firm Morningstar, was pulled down over 10 percent when Miller's Internet retailers, home builders and health insurers soured this year.
But in 2007 Miller, the only man to have beaten the broader stock market for 15 years in a row, expects stocks such as UnitedHealth Group Inc.(UNH), Aetna Inc. (AET), KB HOME (KBH) and Pulte Homes Inc. (PHM) to recover.
"Next year, they will do well," Miller said at the company's annual investment symposium in New York, explaining that health care providers suffered this year both because they had done well in previous years and because an options scandal at UnitedHealth weighed down the sector.
Read the complete article
