Tuesday, May 10, 2005

Fund Likes Yahoo More Than Fannie Mae

The fund manager of Legg Mason Value Fund sold its entire position in Fannie Mae last quarter. "(Bill) Miller dumped the fund's 4.5 million share stake in Fannie Mae, the troubled mortgage finance company."


At 6:45 PM, Anonymous Anonymous said...

I don't know what we can take from this sale. It might have been a shrewd financial move, but I think that the fact that there's no current financial reports from FNM (i.e., they are not current in their SEC financial reporting) may have played a big role as well. The charter of the mutual fund may require that they sell companies that are current in their reporting obligations.


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