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Article: DON'T BE STUPID; Janus Worldwide shareholders: Now's time to jump ship.(Business)
- Article from:
- The Boston Herald
- Article date:
- April 14, 2009
- Author:
CopyrightCOPYRIGHT 2009 Boston Herald. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Chuck Jaffe
When an investment company fires a fund manager, the typical pitch to shareholders is that they should stick around because better days must be ahead.
But if management gave up on a manager it trusted - and who lost the job presumably due to lagging performance - it may well be time for shareholders to head for the exit, too, particularly if they can find another fund that appears to be better suited for the job.
That's precisely why it's time for investors to give up on Janus Worldwide, which recently fired its manager after five years of struggling.
Unlike most investments featured in this column, there hasn't ...