Bill Miller's Legg Mason Opportunity Off to a Fast Start

Pummeled in 2008, Opportunity blasts off with a 12 percent gain.


According to Morningstar, Bill Miller's Legg Mason Opportunity fund is the second-best performing diversified stock fund so far in 2009, with a 12 percent gain (the No. 1 fund is Foresight Value.)

That's significant because the Opportunity fund was the worst-performing fund in that category in 2008, suffering a horrifying 65 percent loss. Miller's famous Legg Mason Value Trust was the No. 3 worst performer for the year, with a 60 percent loss [click here for background on the fund's fall from grace.]

Stocks in Opportunity's portfolio are off to a fast start this year, with big gains in holdings like Red Hat, Expedia, Eastman Kodak, and NII Holdings. Legg Mason Value's first week and a half hasn't been too shabby either, with a 3 percent gain.

Perhaps 2009 is Miller's comeback year.