As many active mutual fund manager suffer through the market down turn, Forbes is singing Jack Bogle's song. Returning to the familiar refrain of the active versus passive debate, Scott Woolley points to the rise and fall (performance-wise) of Bill Miller's Legg Mason Value Trust as evidence that active management isn't all it's cracked up to be.

Miller's troubles have drawn the media's attention repeatedly for more than two years (see MFWire, 7/14/2006, 12/11/2007, 7/11/2008, 7/14/2008, 9/9/2008, 10/23/2008, 12/15/2008, 12/22/2008 and 1/2/2009). 

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