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Strategies & Market Trends : Value Investing
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To: Madharry who wrote (31365)7/3/2008 1:38:34 PM
From: Paul Senior  Read Replies (2) of 78485
 
LM. Looks like my valuations of asset managers has been wrong. I'm still suffering with positions in some, but no longer LM. I've been out for a while.

I gave up on LM for several reasons. One being I got tired of losing money in the stock. Some justification with LM not having much exposure to managing European stocks - an area of growing interest to USA people; with Bill Miller's losses driving exits from this LM flagship fund; from LM's poor management of money market funds wherein they had to put money into the fund to keep net asset/sh. from going below the key $1/sh. price. Irritating to me, and telling to me, that LM management felt they had to be so competitive with money market yields that they strove for higher yields with stuff they didn't understand. Is what happens when marketing or greed or something overrule analysts (or they have incompetent or inattentive analysts). That killed LM for me.
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