So the success of Bill Miller, a fund manager at the Baltimore-based Legg Mason, has been a conundrum for those who believe in efficient markets.

依靠察看过去的信息或以往价格变化的形式来赚钱是不可能的的人而言，巴尔的摩莱森·梅森Legg Mason公司的基金经理比尔·米勒的成功是个难解的谜。

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As I noted in a post yesterday, Legg Mason fund manager Bill Miller has suggested that the company can keep the current cash, but pay out all future free cash flow to holders.

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Legg Mason Capital Management CEO Bill Miller --who oversees 5.6 million shares of MCI, about 1.76% of the company--has said that Qwest's offer is superior, and that if Verizon's bid comes to a vote, he'll shoot it down.

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For instance, take the Legg Mason Capital Management Value Fund, managed by Bill Miller.

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