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Rating:Miller's Kodak Moment is Anything but Picturesque Not Rated 0.0 Email Routing List Email & Route  Print Print
Tuesday, June 28, 2011

Miller's Kodak Moment is Anything but Picturesque

News summary by MFWire's editors

Bill Miller's Kodak moment is one he won't soon forget. Miller's flagship fund, Legg Mason Capital Management Value Trust[see profile] has sold its stake in the film company for a net loss of $551 million, Bloomberg reports, citing a Securities and Exchange filing.

Miller reportedly began buying Kodak shares in 2000 and, by the end of 2005, owned as much as 25 percent of the Rochester, New York-based company. The fund kept the bulk of its stake for more than a decade, only to sell after Kodak had lost more than 90 percent of its market value. 

Edited by: Hung Tran


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