Citigroup, Legg Mason reportedly near $4 bln asset swap - Banks - Financial - Specialty Finance - Financial Services - M&A - Mutual Funds

Citigroup, Legg Mason reportedly near $4 bln asset swap - Banks - Financial - Specialty Finance - Financial Services - M&A - Mutual Funds

Legg Mason is the best run of all the regional brokerage houses. It has gathered assets like non other. From memory, I believe the proposed deal will double the money under management.

The Legg Mason Value Trust is the only fund to beat the market for 14 years in a row. Legg manages fixed income and stock accounts.

My family generally avoids mutual funds. We know that the fees represent a significant drag on returns. Regardless of our attitude, we have owned shares in the value trust for the past 17 years. We trade through discount brokers but we own a number of the same stocks held in the value trust.

Chip Mason has built a great management team. I have no knowledge in regard to succession plans. Those who invested with Mr. Mason 30 years ago have done well!

BUY THE BULL!

CNBC JUST REPEATED MY OLD REFRAIN--US STOCKS ARE CHEAP AND BONDS ARE NOT!