Janus Skippers Acknowledge Mistakes, Stick to Investing Guns
DENVER -- With most of their tech- and telecom-heavy funds underwater and trailing their peers on the year, Janus fund managers went public to say they're sticking to their high-octane style. At the same time, they acknowledged that that style led to some mistakes this year.
At a Thursday year-end review with the media, a chummy gaggle of Janus stock pickers -- who rarely speak with the press and don't discuss individual stocks -- lamented this year's losses but said they won't change their stripes after one down year. Janus Chief Executive Tom Bailey likened his firm to shortstop Alex "A-Rod" Rodriguez, who just inked the largest contract in baseball history at $252 million over 10 years. ...
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