Legg Mason’s Bill Miller is at it again this year (up 43%) and he is talking about what he thinks is in store for 2010.
Once known as maybe the best mutual fund manager in the world, Miller was often referred to as the guy who beat the S&P 500 for 15 years straight, from 1991 to 2005.
Now he’s known as the former guru that from 2006-2008, bet that people were just overreacting and continued buying up shares of AIG, Wachovia, Freddie Mac, and Bear Stearns.
Miller’s Value Trust fund lost a devastating near 60% in 2008.
This year, like many, he is doing a lot better. Bloomberg’s Sree Vidya Bhaktavatsalam spoke with Miller about his market forecast for 2010.
He says better prospects for the economy and lower potential returns in the fixed-income markets will lure investors back into stock funds in 2010… The S&P 500 will increase at least 15% and economic growth of 4% is “very doable.”
In contrast, El-Erian doesn’t think GDP will increase more than 2% for years to come.
Read more about Miller on Bloomberg.