From first to worst--that summarizes Legg Mason Value's (LMVTX) performance over the past decade. The fund has lagged the S&P by 23 percentage points for the 12 months ended July 28, 2008. As a result, investors who bought the fund even a decade ago have now experienced performance over that span that lands near the large-blend category's worst quartile and lags the S&P 500 Index, too.