Making Buy-and-Hold Pay and Pay
Legg Mason Value Trust (LMVTX ), headed by Bill Miller, is famous in the investing world for being the only mutual fund that beat the S&P 500-stock index in each of the last 11 years. Nancy Dennin, the fund's assistant manager, credits Value Trust's success to Miller's focus on the long run -- generally the next three to five years -- and hanging on even if a holding's stock price falls.
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