Courtesy Citybizlist – Bill Miller may have just turned the corner – after braving a crisis that started with the global financial meltdown five years ago – and it may all be on account of a bulldog he bought on the advice of a colleague.
“I needed to change my luck,” the 63-year-old Legg Mason money manager told The Baltimore Sun in a recent interview. “I reasoned that to have a bull market, you need a ‘bull’ dog of some sort.”
He settled on an English bulldog and named it after boxer Jake “Raging Bull” LaMotta. “The bulldog was the reason the market recovered,” said Miller.
Last year, Miller’s Legg Mason Opportunity Trust, which he has managed since 1999, rose nearly 40%, and has gained 41.6% so far this year, Sun reported.
Also, for three quarters in a row, the mid-cap fund with $1.5 billion in assets has been the top-ranked U.S. diversified stock fund with more than $50 million in assets, according to a Wall Street Journal survey. The fund also received net inflows of $68 million in July after years of net exits.
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