Citigroup analysts say Bill Miller’s departure from Legg Mason (LM) is a long time coming...

|About: Legg Mason Inc. (LM)|By:, SA News Editor

Citigroup analysts say Bill Miller’s departure from Legg Mason (LM) is a long time coming after keeping the faith for too long on lemons Fannie Mae and, more recently, Kodak. LM's Value Trust Fund retail assets under management, nearly $20B in 2005, have sagged to $3B; the move is "a tactical positive, potentially giving a fresh start... and/or helping to stem further attrition."