LEGG MASON INC Baltimore, Maryland; Legg Mason Is Rolling In Dough -- But How Long Will It Last?(THE NEW AMERICA)

Publication: Investor's Business Daily

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COPYRIGHT 2005 Investor's Business Daily, Inc.

Byline: MARILYN ALVA

Legg Mason is at the top of its game. Its asset managers have taken in record amounts of new money the last two years. And the last quarter was Legg Mason's best.

Nearly $22 billion of new money flowed into the firm's asset management business, the highest amount ever. Even for a large company, that's an awesome number.

Legg Mason's stellar showing surprised even the firm's top management. It's led some industry watchers to ask: Is this as good as it gets?

Even Legg Mason's chief executive, Raymond "Chip" Mason, raised the question.

"We've had a three- or four-year run of strong, consistent performance. And that makes me worry more because you know the top of the hill is somewhere," he said.

He admits the last...

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