Wick is short Eastman Kodak (EK), which he says isn't gaining traction in the printer business and continues to be hurt by the digital-photography revolution. Wick notes that Legg Mason Value Trust holds 7.5% of Kodak's shares, while Legg Mason as a whole owns close to 20%. At Value Trust, Bill Miller's legendary streak beating the S&P 500 has been replaced by extended under-performance. Wick thinks that Miller eventually will go. When he does, the Kodak stake could follow, pressuring the shares. (emphasis added)
Hat tip to Jeff Matthews, who suggests some appropriate headlines for this item.