the old saying, "dont confuse a bull market with brains"comes to mind here. this guy used to be all over tv and they treated him as some kind of ultimate guru but now his fund is down almost 40%. Bill Miller Stepping Down From Value Trust Fund Bill Miller had an amazing run of 15 consecutive years of beating the S&P 500, and in a few short years he's given it all back and more. The fund is up a cumulative 500% since Miller took over in 1990 compared with 544% for the S&P 500. That's every bit as amazing as his 15-year streak. Since the streak broke, the fund has beaten the S&P 500 in only one calendar year, 2009, following a harsh 55% loss in 2008. http://news.morningstar.com/articlenet/article.aspx?id=447477