Big-name mutual fund managers Bruce Berkowitz
of Fairholme Capital Management
and Bill Miller
of Legg Mason have been victims of the gyrating market this month, the Wall Street Journal reports
Berkowitz's $13.4 billion Fairholme Fund [see profile]
is reportedly down 18 percent in August through Monday, including a nearly nine percent drop on Monday. And Miller's Legg Mason Capital Management Opportunity Trust[see profile]
was down 21.6 percent for the month through Monday and 35.9 percent for the year.
Both managers have been burned by their big bets financial stocks.
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