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An Arm and a Legg: Miller's Tech Sales at Value Fund Spur Tax Hit
At $12.1 billion(LMVTX Quote)Legg Mason Value Trust, it's out with the tech -- and in with the taxes.
Last week, Legg Mason sent Value Trust shareholders a letter warning that the fund will pay a taxable long-term capital gains distribution 
of $5 to $7 a share on June 29. The reason: Skipper Bill Miller is selling old tech favorites such as America Online(AOL Quote) and Dell(DELL Quote) and putting that cash to work in Old Economy stocks.
Miller's fund is the only one to beat the S&P 500 for each of the past nine years, so shareholders who have held the fund for a few years can balm the wounds of any tax hit with the mountain of outsize returns. ...
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