Time to put more money in
. I didn't want to write those words until I knew that the fund company had raised enough money to handle any redemptions and, at the same time, hadn't paid out so much money that it angered its shareholder base. Nobody likes to pay a big capital gain and not make money.
I think Janus is setting up for a strong run here. It has ample cash, maybe even more than we know. Its stocks are down yet the fundamentals, long-term, remain very intact. Most important, there are hundreds of hedge funds shooting against this hobbled giant, betting that Janus will capitulate and sell its stocks. It doesn't have to. It can buy more.
In my coming role change from hedge fund manager for rich people to strategist for anybody who reads us, I have been making a study of mutual fund behavior as I think it holds the key to stock price performance. I think Janus has weathered the storm and is now ready to put its money to work in its same high-octane, fuel-injected way. And you should participate.
James J. Cramer is manager of a hedge fund and co-founder of TheStreet.com. At time of publication, his fund had no positions in any stocks mentioned. His fund often buys and sells securities that are the subject of his columns, both before and after the columns are published, and the positions that his fund takes may change at any time. Under no circumstances does the information in this column represent a recommendation to buy or sell stocks. Cramer's writings provide insights into the dynamics of money management and are not a solicitation for transactions. While he cannot provide investment advice or recommendations, he invites you to comment on his column at