Legg Mason's Miller says 'now is a great time to invest'

Miller’s quarterly investor commentary claims that low selling prices for stocks mean those who invest now could make considerable returns over the long term. He says: “Other things equal, lower stock prices mean values are better and future rates of return higher.” Miller cites recent performance of the S&P 500 index as an example. The S&P is trading at around 1,458 after reaching a high of 1,553 just a few weeks ago. Miller points out that this is still above the level of 1,449, on 29 February, seen before another major sell-off in March. Miller comments: “We are now trading just ab...