Legg Mason Value Trust which is run by Bill Miller had an enviable investment track record of over 15 years until about 2 years ago. The fund beat the S&P index every year from 1990 to 2005. Significant mistakes including an investment in Freddie Mac have caused material losses.
3 companies in the Top 10 holdings of this fund are in the Internet industry: Amazon, eBay and Google.
WEB can't value Internet businesses.
Thursday, August 7, 2008
Value Style? Legg Mason Value Trust
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