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State of the Mutual Fund Business

Facing record outflows, money-losing investments and troubled money market accounts, the mutual fund industry is among the hardest hit in the credit crisis. How will the industry pick up the pieces?

Fast Money welcomed Legg Mason CEO Mark Fetting on the set.

He discussed the state of the industry, where and when to be opportunistic, and how to rebuild the feeling of safety for clients again in the face of a year where Legg Mason shares are down around 75%.

Watch the complete interview.


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On Nov 11, 2008, the following stocks and commodities mentioned or intended to be mentioned on CNBC’s Fast Money were owned by the Fast Money traders; Adami Owns (AGU) (BTU) (C) (GS) (INTC) (MSFT) (NUE), Pete Najarian Owns (AXP) Put Spread, Finerman's Firm Is Short (IJR) (IYR) (IWM) (MDY) (SPY) (USO) (BBT) (VNO) (COF), Finerman's Firm Owns (CSCO) (MSFT) (OIH Puts), Finerman's Firm Is Short (USO), Seymour Owns (AAPL) (BAC) (EEM) (F) (MER) (SBUX), Seygem Asset Management Owns (EWZ) (FXI), Jon Najarian Is Short (FSYS)