Bill Miller


DEFINITION of 'Bill Miller'

The chairman and CEO of Legg Mason Capital Management, an investment management firm with over $60 billion under management. Bill Miller actively manages the Legg Mason Value Trust mutual fund, which has a long history of outperforming the S&P 500 benchmark. Bill graduated from Washington and Lee Universities in 1972 and performed a stint in U.S. military intelligence.


With a strong interest in philosophy, Bill is widely known for a number of famous quotes, such as: "Lowest Average Cost Wins". The fund he manages outperformed the S&P every year from 1991 to 2005. Its 10-year return finally lagged the index as of June 30, 2008.

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