Wikio - Legg Mason

The Big Picture For The Week Of July 6, 2008 (Random Roger's Big Picture)

Sat, 05 Jul 2008 15:11:00 GMT

No video this week. We have guests and other dogs with us for the holiday. The chart is YTD for the Legg Mason Value Trust (LMVTX) versus the S&P 500. You know the fund for its very long streak of beating the S&P 500. A look at the stale holdings on Yahoo Finance shows that it makes what I think are big bets and sometimes big bets do not work out. It has United Healthcare (UNH) which has a 4.45%...

Source : Random Roger's Big Picture (subscribe)

Is Bill Miller Toast? (GuruFocus Updates)

Fri, 04 Jul 2008 23:57:39 GMT

Talk about a fall from grace. Legg Mason Value, managed by the once-revered Bill Miller, has performed so poorly the past two and a half years that Morningstar now gives the fund one star, our lowest rating. But should it really come as a surprise that Miller, who was once the talk of the investing world because he beat the stock market 15 consecutive calendar years, has hit a rough patch? No....

Source : GuruFocus Updates (subscribe)

Hidden Losses (Forbes)

Fri, 04 Jul 2008 22:20:15 GMT

... Apollo Real Estate Fund IV199910.6 Morgan Stanley Real Estate Fund III International199910.9 Legg Mason Real Estate Capital200210.9 Berwind V199911.9 DB Real Estate Global Opportunities 1B200312.3 Lazard Freres Strategic Realty Inv. I199612.6 Lubert-Adler Fund II199813.0 Lubert-Adler Fund IV200414.0 Peabody Global Real Estate Partners199814.3 Walton Street Real Estate Fund II199814.7 Guggenheim...

Source : Forbes (subscribe)

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The Always Entertaining Marat Safin (Off Wing Opinion)

Thu, 03 Jul 2008 00:37:19 GMT

It's a heck of a run for the 28-year old Safin, who has been undershooting expectations more or less since he beat Pete Sampras in the 2000 US Open Final. But while others might be frustrated with him, I can't help but be a fan of Safin. I first got a chance to see him up close a year ago at the Legg Mason Tennis Classic. Though I didn't get to see him play, , which I found to be a real hoot:...

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Prudential Financial, Legg, H&R Block Fuel Brisk Trading - Wall Street Journal (Financial Services)

Wed, 02 Jul 2008 00:34:55 GMT

Prudential Financial, Legg, H&R Block Fuel Brisk TradingWall Street Journal - 2 hours agoTraders trolled the financial-services sector Tuesday and prompted heavy trading in Legg Mason Inc., H&R Block Inc. and Prudential Financial Inc. In Legg …

Source : Financial Services (subscribe)

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Ratings firms flag Legg Mason; stock drops (Market Watch)

Tue, 01 Jul 2008 18:22:15 GMT

BOSTON (MarketWatch) -- Shares of investment manager Legg Mason Inc. were off nearly 5% on Tuesday afternoon following the company's announcement that it would provide additional support to its money market funds hit by problems in the asset-backed commercial paper market. Standard & Poor's Ratings Services on Tuesday revised Legg Mason's outlook to negative from stable, while Moody's...

Source : Market Watch (subscribe)

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S&P lowers Legg Mason's outlook to negative (Market Watch)

Tue, 01 Jul 2008 18:12:06 GMT

SAN FRANCISCO (MarketWatch) -- Standard & Poor's Ratings Services on Tuesday revised Legg Mason Inc.'s outlook to negative from stable and affirmed the company's ratings, including its BBB+ long-term counterparty credit rating. "The negative outlook is in response to our concerns about Legg Mason's exposure to structured investment vehicles as well as profitability and interest coverage,...

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Moody's Mulls Legg Mason Cut (Law Blog - WSJ.com)

Tue, 01 Jul 2008 18:07:00 GMT

Moody's is considering cutting the debt ratings of Legg Mason following the asset-management firm's disclosure that it will incur further losses to support the net asset value of its money-market funds.

Source : Law Blog - WSJ.com (subscribe)

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Moody's may downgrade Legg Mason (Market Watch)

Tue, 01 Jul 2008 17:30:05 GMT

SAN FRANCISCO (MarketWatch) -- Moody's Investors Service on Tuesday placed Legg Mason Inc.'s debt ratings on review for possible downgrade. The move comes after the company said it will incur further losses in its ongoing support of many of its constant net asset value money market funds. "Investment performance across Legg Mason's platforms, and its potential to negatively impact flows...

Source : Market Watch (subscribe)

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Legg acts to brace 3 funds (Baltimore Sun)

Tue, 01 Jul 2008 04:00:00 GMT

Firm plans charge of $265.3 million Legg Mason Inc. said yesterday that it will take a $265.3 million charge in the quarter ended yesterday, more than half of it to shore up more money market funds invested in troubled asset-backed securities.

Source : Baltimore Sun (subscribe)

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Legg Mason to take $155M in charges to stave off fund losses (The Baltimore Business Journal)

Mon, 30 Jun 2008 23:41:31 GMT

Money manager Legg Mason Inc. said late Monday that it expects to take $155 million in charges against earnings as it moves to shore up its money-market funds. (LM)

Source : The Baltimore Business Journal (subscribe)

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Yahoo Questions How Serious Microsoft Was On Deals (Information Week)

Mon, 30 Jun 2008 23:40:18 GMT

... said Friday they are not sure whether they will side with Icahn in his proxy fight, including Legg Mason Capital Management, its third-largest institutional shareholder.Earlier this month, Yahoo rejected an alternate Microsoft proposal to buy its search business and a 16% stake in the company for $9 billion, plus annual advertising payments."Microsoft proposed (a) last-minute 'hybrid' search-only...

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Yahoo Questions How Serious Microsoft Was On Deals (InformationWeek - All Stories)

Mon, 30 Jun 2008 23:40:18 GMT

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Legg Mason supports money market funds hit by credit crisis (Market Watch)

Mon, 30 Jun 2008 23:01:00 GMT

SAN FRANCISCO (MarketWatch) -- Legg Mason said late Monday that it will provide up to $240 million to support money-market funds that have been hit by the credit crunch.

Source : Market Watch (subscribe)

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Legg Mason Backs More Funds (Law Blog - WSJ.com)

Mon, 30 Jun 2008 21:35:00 GMT

Legg Mason agreed to contribute $240 million in capital to support three of a unit's money-market funds, the firm's latest effort to stabilize its cash funds as the credit crunch continues to roil financial markets.

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Legg Mason Provides Money Market Fund Update (The Earth Times Online Newspaper)

Mon, 30 Jun 2008 21:00:13 GMT

BALTIMORE, June 30 -- Legg Mason, Inc. (NYSE: LM) announced that the Company has entered into capital support agreements (CSAs) to support three money market funds managed by a subsidiary of the Company. Neither the fu...

Source : The Earth Times Online Newspaper (subscribe)

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Yahoo lobbies for its board slate, management (The Earth Times Online Newspaper)

Mon, 30 Jun 2008 14:20:01 GMT

... said on Friday they are not sure whether they will side with Icahn in his proxy fight, including Legg Mason Capital Management, its third-largest institutional shareholder.Earlier this month, Yahoo rejected an alternate Microsoft proposal to buy its search business and a 16 percent stake in the company for $9 billion, plus annual advertising payments.Instead it reached a nonexclusive pact...

Source : The Earth Times Online Newspaper (subscribe)

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Icahn Planning Fourth of July Fireworks for Yahoo (DealBook)

Mon, 30 Jun 2008 11:55:28 GMT

... tuned.”Also on Friday, a portfolio manager for Yahoo’s third-largest institutional shareholder, Legg Mason Capital Management, said he is not sure if he will support Mr. Icahn’s board slate.If Mr. Icahn’s nominees are elected on August 1, they will hire a new chief executive to replace Jerry Yang, Mr. Icahn has maintained.But Legg Mason fund manager Robert Hagstrom called it a choice...

Source : DealBook (subscribe)

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Bear Market Guide: Relax, make money (SignalBlog)

Sat, 28 Jun 2008 00:18:10 GMT

... quickly,” said Steve Bleiberg, in charge of investments for the global asset allocation program at Legg Mason. Second, stocks are actually a better deal - maybe even “safer” - than they were a year ago. And they look exceedingly cheap compared to 1999, the height of the stock-market mania. The price-to-earnings ratio of the S&P 500, based on corporate bottom lines of the past twelve months,...

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Yahoo Investors Unsure If They Will Support Icahn (InformationWeek - All Stories)

Fri, 27 Jun 2008 23:50:50 GMT

... replace Yang, who co-founded Yahoo.More Internet InsightsRobert Hagstrom, a portfolio manager for Legg Mason Capital Management, Yahoo's third-largest institutional shareholder, called it a choice between "the devil you know and the devil you don't know.""Icahn has got three things. He wants to fire Jerry, eliminate the severance package and he wants to force the sale," Hagstrom told reporters...

Source : InformationWeek - All Stories (subscribe)

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