Miller Overshadows Mason
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Thursday, December 09, 2004

Miller Overshadows Mason

That the name Mason is on the door does not matter much to the fourth estate. Like the proverbial tree falling in the proverbial forest, Legg Mason CEO Chip Mason spoke yesterday at the firm's conference in New York City and no one heard. At least, that is what the report from the Wall Street paper of record implies. Instead of Mason, Bill Miller captured the spotlight at the gathering. While Miller is not a CEO, he is the only fund manager to have topped the S&P 13 years running.

Despite the name of his fund (Legg Mason Value Trust), Miller said he is sticking with stocks not typically found in a value fund, including Amazon and Google. That's right, Miller was a buyer of the online search company's stock. Miller also said that he remains optimistic said that he remains optimistic about the U.S. stock market and sees prices heading higher as profits rise and M&A activity picks up.

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