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Bill miller: Stock picker rises again, Unchanged by Crisis


fuluvu
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Today's WSJ article about Bill Miller, it is interesting to read.

 

Contrary to the article's title, Miller has changed in many ways.

 

Amid the stress by (crisis), Mr. Miller gained 40 pounds, couldn't sleep for more than a couple of hours at a time and suffered through many other changes.

 

He sold the yacht 'Utopia" . He says he had spent only about two weeks on "Utopia," which he bought mostly for his wife. They are now divorced.

 

He checks financial news at midnight when he could not sleep. If there was a big drop somewhere, he got out of bed, put on running pants and usually a Santa Fe Institute T-shirt, went downstairs to his home office, booted up his computer and began the workday in the middle of the night. "It is relatively hard to get back to sleep when everything is falling apart," he says.

 

True to form, he sold the yacht in 2009 to plow more money into the pummeled stock market. He says he had spent only about two weeks on "Utopia," which he bought mostly for his wife. They are now divorced.

 

Value Trust rebounded sharply, but it was too little, too late. In 2011, Legg Mason named a successor to Mr. Miller, saying the move was part of a long-term succession plan hatched before the crisis.

 

He stepped down as Value Trust's manager in April 2012, leaving Mr. Miller in charge of the smaller Opportunity Trust fund. Legg Mason says he wasn't asked to step aside.

 

A gambler is on his winning streaks again right now, of course at a time when the market is up.

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