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GRG55
09-25-08, 09:21 AM
...but delivering similar performance...:eek:

Another vignette from the long, slow, agonizing death of the FIRE economy:


Legg Mason's Miller Urges Government to Scale Back AIG Takeover
(http://www.bloomberg.com/apps/news?pid=20601087&sid=aqhyhIY9MgFs&refer=home)
...Miller's $9.2 billion Legg Mason Value Trust (http://www.bloomberg.com/apps/quote?ticker=LMVTX%3AUS) has slumped 36 percent this year, lagging behind 99 percent of rival funds that invest in shares of companies deemed cheap or undervalued, according to data compiled by Bloomberg. The fund, which beat the Standard & Poor's 500 Index for 15 straight years, has trailed the U.S. benchmark since the end of 2005. This year, the fund's losses are twice that of the index (http://www.bloomberg.com/apps/quote?ticker=SPX%3AIND).



Miller, known for his strategy on focusing on fewer names in his portfolio, has added to large-company stocks such as General Electric Co (http://www.bloomberg.com/apps/quote?ticker=GE%3AUS). and Bank of America Corp., the bank that recently purchased Merrill Lynch & Co. He also added to AIG shares earlier this year...

phirang
09-25-08, 09:30 AM
...but delivering similar performance...:eek:

Another vignette from the long, slow, agonizing death of the FIRE economy:


Legg Mason's Miller Urges Government to Scale Back AIG Takeover
(http://www.bloomberg.com/apps/news?pid=20601087&sid=aqhyhIY9MgFs&refer=home)
...Miller's $9.2 billion Legg Mason Value Trust (http://www.bloomberg.com/apps/quote?ticker=LMVTX%3AUS) has slumped 36 percent this year, lagging behind 99 percent of rival funds that invest in shares of companies deemed cheap or undervalued, according to data compiled by Bloomberg. The fund, which beat the Standard & Poor's 500 Index for 15 straight years, has trailed the U.S. benchmark since the end of 2005. This year, the fund's losses are twice that of the index (http://www.bloomberg.com/apps/quote?ticker=SPX%3AIND).



Miller, known for his strategy on focusing on fewer names in his portfolio, has added to large-company stocks such as General Electric Co (http://www.bloomberg.com/apps/quote?ticker=GE%3AUS). and Bank of America Corp., the bank that recently purchased Merrill Lynch & Co. He also added to AIG shares earlier this year...




Anyone dumb enough to leave their money with Miller deserves what they get.

GRG55
09-25-08, 10:10 AM
Anyone dumb enough to leave their money with Miller deserves what they get.

Seems like he has developed an uncanny ability to pick value traps. I remember reading an interview with him a few years back where he went out of his way to trash commodity investing, reserving particular vehemence for those of us "stupid enough to be invested in oil"...:p

phirang
09-25-08, 10:13 AM
Seems like he has developed an uncanny ability to pick value traps. I remember reading an interview with him a few years back where he went out of his way to trash commodity investing, reserving particular vehemence for those of us "stupid enough to be invested in oil"...:p

I recall one summer where I worked in one of his "value" investments laughing as the CEO announced another writedown...