...Miller's $9.2 billion Legg Mason Value Trust 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.
Miller, known for his strategy on focusing on fewer names in his portfolio, has added to large-company stocks such as General Electric Co. and Bank of America Corp., the bank that recently purchased Merrill Lynch & Co. He also added to AIG shares earlier this year...
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