Play To Win

Index fund is still the choice

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Who is the the most successful mutual fund managers in the past decades? Many would argue that Bill Miller is one of them. After all his Legg Mason Value fund is the only one beating S&P index 15 years in a row. But would you put your money with him? I don't. Looking at the bigger picture. From 1986 to now, about 22.5 years span, LMVTX is up a littl less than 200%. This is like 3% annual return. You can do much better by just putting your money in CD. In the same 22.5 years span, S&P index is up about 500%. This is about 7.5% a year.