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.
No comments:
Post a Comment
Comments are here to serve and educate investors.