Bill Miller Sticks With Goldman Sachs as Damage Seen Limited

Legg Mason Inc.’s Bill Miller said he is sticking with his bets on Goldman Sachs Group Inc. because the fallout from the fraud accusations against the bank will probably be limited.

“I don’t think there’s any evidence that they would lose enough business that you would notice it,” Miller, chairman and chief investment officer of Legg Mason Capital Management, a stock-fund unit of Baltimore-based Legg Mason, said in a phone interview. “It’s much more of a political problem and a reputational problem that I believe will pass.”