Take a look at this graphic that was in Wall Street Journal. It’s a graph of the performance of the Legg Mason Value Trust, managed by Bill Miller, against the S&P 500 Index.
According to the article ($), the Value Trust is down 58% this year alone! Why? Because Bill Miller made bets on AIG, Wachovia, Bear Stearns, and Freddie Mac. OOPS!
Another reason to index?
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