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 Strategies & Market Trends | JAVLX Janus Twenty Fund


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To: Bruce McGaughey who wrote (1)7/28/2000 4:19:16 PM
From: rkf
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Bruce, don't know about the Cap gains, but Janus 20 is going to be extremely volatile in this rollercoaster market based on its tech exposure. One thought - Janus has essentially bet the farm on Nokia, and it was down very sharply Thurs.
Kent
P.S. I own Janus Global Tech. and Worldwide, but not Twenty

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To: rkf who wrote (2)7/29/2000 11:30:26 AM
From: Bruce McGaughey
   of 7
 
Thanks for the post, Kent.
Didn't know about Nokia. The recent drop in JAVLX makes
sense when you consider that kind of position in NOK.
I have my kids' college money in JAVLX.
Yesterday, I switched out of JAGTX in my IRA account.
I bought the new Orion fund, mostly because it's underwater
compared to it's launch price.
Although we don't know what's in the Orion fund, I bet
NOK is in there, too.
I'm not worried about NOK, though. Too many cell phones out
there.

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To: Bruce McGaughey who wrote (3)7/31/2000 9:33:26 AM
From: rkf
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thanks Bruce, one thing to remember about Janus is most of the funds have highly similar holdings, with the exception of the new Strategic Value fund (which appears very attractive to me). So, yes, Orion will have a huge stake in Nokia, as does Global Tech, 20, Worldwide, etc., etc. IMO, this is the good and bad with Janus. Great when they've got a winner like Nokia, bad when it craters. I'm a long term Janus fund holder, but I believe their returns over the next five years will lag the previous five - then again - the way things look now, that may be true of all good name funds out there.
Kent

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To: rkf who wrote (4)7/31/2000 10:34:21 AM
From: Esway
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RE<<but I believe their returns over the next five years will lag the previous five >> Even a return of just 1/2 of their performance of the last five years, Would be respectable compared to historic performances of the last 20 years. Hard to expect the type of 100+% returns that many investors have become use to in the last few years. Good luck.

EW

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To: Esway who wrote (5)8/1/2000 1:31:37 AM
From: Bruce McGaughey
   of 7
 
Most of the action in the market since the '98 "crash"
has been in the "Nifty 50". Janus Funds have been there
heavily and it's made them a lot of money.
I kind of wonder if we'll ever go back to trading on value
again. Most people buy DELL,INTC,AOL,CSCO,etc on weakness
and then just hold on; buying some more on dips.
I also have money in Legg Mason Value Trust (LMVTX).
It's run by Bill Miller and LMVTX is THE ONLY fund to
have beaten the S&P every year for the last 9 years.
Last year, Morningstar voted him "Manager of The Decade".
He did all of this by buying like Warren Buffett (low price
vs. Intrinsic Value) and then he cheated by buying a lot
of AOL and DELL, early in the nineties.
This last March, he dumped a good part of AOL and DELL
and went back to buying value plays...Waste Management,
Toys R Us, Mattel.
He's a botton-fisher of companies with near-monopolies.
Which approach will be right ?? Bottom-fishing or
Nifty 50 ???
Who knows. Stay tuned.

JAVLX vs. LMVTX graph:
www2.marketwatch.com 

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To: Bruce McGaughey who wrote (6)8/9/2000 1:32:48 PM
From: Larry S.
   of 7
 
Bruce, I started a thread to discuss SV and what might be going on there: Subject 36563 larry

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