The process may already be initially underway as former fast moving traffic such as Dell, Cisco, Microsoft, Worldcom, Nokia and Lucent have moved into the slow lane. Our candidates for future price deceleration that may be running on empty right now include Intel and Oracle. Conceptually Fidelity, Putnam, Barclays, TIAA CREF, etc. are in the same boat. In each case, with the exception of Dell and MSFT, Janus is among the top 10 institutional holders of the mentioned stocks. In these cases, Janus' rank among mutual fund holders specifically is higher than shown in the numbers above.
Momentum works fine as an investment strategy while the music is playing.
It's when the music stops that capital vanishes in what seems a heartbeat. We know that management turmoil at Janus has been an issue for some time now. Only time will tell. Although it's just another sign of the times, Craig is a loss for Janus and its credibility. Although there have been a good number of ups and downs over the last month, this market still acts as if it's trying to find its way home in the dark.