Professional athletes like to retire after a good run. Legendary value investor Bill Miller is taking a different route.
Miller, 72, is sticking with the plan he announced in January to hang up his investment cleats at the end of 2022, a year in which his flagship mutual fund turned in a back-of-the-pack performance. Miller Opportunity Trust (ticker: LGOAX) has lost 37% this year, placing it in the bottom quartile of the Mid-Cap Blend category, according to Morningstar. That’s a far cry from Miller’s performance at Legg Mason Value Trust, which bested the S&P 500 for 15 years in a row while he was in charge.
