Why did you make Barclays’s botched trade the most read story yesterday? It was only a less-than-$4 million goof. This probably happens all the time and we don’t hear about them all, so what’s the big deal?
Bill Miller, the fund manager best known for value stock picks at Legg Mason Inc., said he owns Bitcoin through his personal investments, adding to a chorus of investors touting the virtual currency’s potential.
Bill Miller, the Legg Mason Inc. manager famous for beating the Standard & Poor’s 500 Index for a record 15 years through 2005, will step down from his main fund after trailing the index for four of the past five years.
Bill Miller, the stock picker who rose to fame after beating the Standard & Poor’s 500 Index for a record 15 years, bought J.C. Penney Co. debt for a new Legg Mason Inc. fund that can invest in a mix of equities and bonds.
Legg Mason Inc.’s Sam Peters , the manager named last week to eventually succeed Bill Miller on the $4.24 billion Value Trust fund, said clients shouldn’t expect big changes to the investment style put in place by his mentor.