Smarter Money: These Funds Have No Excuse Anymore

Click here for the latest from James J. Cramer.

So what exactly is my beef with these big tech mutual funds? What do I find so outrageous and arrogant about them? Why do I keep picking on them? Because they let us down. Because they told us that they knew more than we did, that they were closer to the companies than we were, that they did more research than we did and that they would see any downturn coming.

Two fund companies, in particular, gall the heck out of me: Janus and Firsthand. I can't tell you how many times I listened to those Janus commercials talking about how Janus did more homework than anyone else. All last year when I heard or read about problems in their largest holdings, I kept thinking, "They will sell. Surely, they must see what I see coming, what I read about, what I know. Surely they at least read Herb Greenberg, who, over and over again, brought up fundamental problems in many of their holdings. They claimed to read me, but they definitely didn't or they would have cut back on merchandise I kept talking about."

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