APL Colloquium

March 14, 2019

Colloquium Topic: The Man Who Beat the Stock Market 15 Years in a Row

Investor Bill Miller is best known for his Joe DiMaggio-like streak of beating the S&P 500 index for 15 consecutive years from 1991 through 2005, a singular feat estimated to occur with a probability of 1 in 2.3 million. He has been described by Jack Bogle as a “legendary investment professional supreme”. Miller will speak about his investment philosophy and decision-making process, as well as other aspects of managing an investment fund. The event will be co-hosted by the Double Fin Club.

Colloquium Speaker: Bill Miller

Bill Miller, CFA is the founder of Miller Value Partners, and currently serves as the Chairman and Chief Investment Officer, and co-Portfolio Manager for Opportunity Equity and Income Strategy. Prior to Miller Value Partners, Bill co- founded Legg Mason Capital Management and served as co-portfolio manager of the Legg Mason Capital Management Value Trust from its inception in 1982. Bill took over as sole manager in December 1990 and served in this role for the next 20 years.

Bill was the director of research for Legg Mason from October 1981 through June 1985 and assumed overall responsibility for Legg Mason’s equity funds management division in 1990. Prior to joining Legg Mason in 1981, he served as treasurer of the JE Baker Company, a major manufacturer of products for the steel and cement industries.

Bill earned his economics degree from Washington and Lee University, where he graduated with honors in 1972. He subsequently served as a military intelligence officer overseas, and pursued graduate studies in philosophy in the Ph.D program at The Johns Hopkins University. He received his CFA designation in 1986. Bill is Chairman Emeritus of the Board of Trustees of the Santa Fe Institute, where he served as Chairman from 2005 to 2009. Bill owns Jake (the world’s smartest bulldog), is an avid Ravens and Orioles fan, and collects books.