Asset manager Janus Capital Group (JNS) is an interesting investment right now. The firm itself is not doing particularly well having seen many of its equity mutual funds underperform relative to the market and peers, and this is leading some investors to pull their funds from the firm. (Investors chasing performance in the money management space is a very well known phenomenon in the literature.)
Yet the stock market as a whole has obviously been on a tear which will lead to large amounts of cash coming off the sidelines and out of other classes to equities. This is particularly beneficial to Janus which is relatively undiversified and has a heavy concentration of its resources focused on the...
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