Friday, December 10, 2004


TYC raised its dividend from $.10 per quarter to $1.25 per quarter! My Mom says thank you Bill!

I get some of my best stock ideas from "cuzzin" Bill Miller. Bill is a pretty famous stock picker with Legg Mason Wood Walker. I worked for the firm for 6 years in the late 80's. Bill manages the Value Trust and other funds for Legg. He has the enviable track record of beating the market for 13 years in a row. If you are not familiar with the challenges of managing big money, let me tell you this tract record is about as good as hitting 750 home runs in a career (without using steroids).

I beat Bill to the punch every now and then. For example, I owned United Health (UNH) long before he made it a major position in his funds. However for the most part I steal ideas from him. Some of the stocks we own in common include TYC, NXTL, AMZN and GOOG.

There is more to managing money that hitting a few good stocks but Bill did not succeed by holding onto losing positions. He does not trade around a lot either. He does his home work, buys stocks and hangs onto the winners long-term. He is also not afraid to seek out other opinions.