FYI: DoubleLine Capital, an investment firm that has been a major rival of Pimco, saw between $400 million and $500 million of net inflows on Friday in the wake of Bill Gross' departure from Pimco, DoubleLine Chief Executive Officer Jeffrey Gundlach said on Monday.
Regards,
Ted
http://www.reuters.com/assets/print?aid=USKCN0HO1SN20140929

I own PASAX, which accounts for about 3.5% of my overall portfolio. I am currently watching as I have some long term capital gains in this fund as I have owned it for some time now. However, it is a fund-of-funds and if other Pimco funds are taking it on the chin, and begin to falter, this one most likely will too. If I see a price drop down to about five percent below its 52 week high them I am thinking strongly of letting it go and not waiting to read Morningstar under review take. It is currently trading at about 3.75% off its 52 week high and has a year-to-date gain of about 4.1% (I'll want to be out with some positive gain left).
Old_Skeet

Hi Ted and others:
Ted, thanks for posting the article on small caps. In my well diversified portfolio currently small cap funds make up about 15% of the growth area of my portfolio with mid caps making up about 25%. With this, that leaves about 60% to the large cap space.
Here is some interesting facts on my small/mid cap sleeve. It is currently 6.25% below its fifty two week high and has a TTM P/E Ratio of 17.4 with forward estimates at 16.3. It has a dividend yield of about 1.2%. and its year-to-date return is 2.3% as of Fridays’ market close.
Small/mid caps are drawing some of my attention and should my small/mid cap sleeve soon drop to about 7.5% below its fifty two week high ... Then, I’ll possibly add a little more to these positions. I did do a little buying last week in the small/mid cap space based on their recent weekness but now I am awaiting additional weakness before buying more and increasing them up to perhaps around 20% of the growth area.
Old_Skeet

One of the Best, thank You Vanguard....
Performance VGHCX More...
Expense; 0.35%
1 Yr +19.68
3 Yr +32.5
5 Yr* +27.75
10 Yr +12.69
*
Growth of 10,000 11,968 10,096 13,252 20,851 25,276 33,021 (10yr)

FYI: (Click On Article title At Top Of Google Search)
In the stock market right now, small isn't beautiful.
While blue chips are riding a bull market now in its fifth year, shares of small companies have struggled amid concerns over lofty prices and an early-year scare over U.S. growth.
Regards,
Ted
https://www.google.com/search?newwindow=1&site=&source=hp&q=small+caps+miss+out+wsj&oq=small+caps+miss+out+wsj&gs_l=hp.3...1938.9155.0.9657.23.22.0.1.1.0.189.1513.19j3.22.0....0...1c.1.54.hp..8.15.1058.6CHXCrJawjw

@MFO Members: I recommend ignoring both Pimco and Janus, and try a little Fuss, or Gaffney.
Regards,
Ted

One might want to wait for Gaffney's ETMF (Eaton Vance Bond ETMF®) to come out and see what it looks like - it's in registration now.
To put it another way, don't make a gaff with a kneejerk reaction; one can afford to be a little fussy and take the time to select investments carefully.

I am a flagship holder at Vanguard and, in the past, they helped me get institutional shares of a mutual fund (front load) which helped me avoid paying the sales load and got me into the lowest OER. I may contact them tomorrow and see if I can get institutional shares of this Janus fund.

Good luck with that (seriously). I'd love to be proven wrong.
Vanguard is good at getting some institutional class funds at "reasonable" mins - for example, you can get PTTRX at $25K vs. $100K at some other brokerages (should you still want this :-)), but when I look at the Janus offerings at Vanguard, all I see are T class shares.

FYI: Health care mutual funds have outpaced the broad stock market in the past 15 years, with the pace of outperformance picking up in the past two years.
A $10,000 investment in the average health care fund on June 30, 1999, would have ballooned to $43,820 by Sept. 24, 2014, according to Morningstar Inc. data.
Regards,
Ted
http://license.icopyright.net/user/viewFreeUse.act?fuid=MTg1MDc5ODY=
Enlarged Graphic: http://news.investors.com/photopopup.aspx?path=WEBlv0926.gif&docId=719115&xmpSource=&width=981&height=1130&caption=&id=719116

What am I missing? Why are people so enamored with Gross opening a new fund? Isn't this the same guy who has guided the PIMCO Total Return fund to mediocrity with some pretty bad calls in the last 5 years? Per M*, 65% of all intermediate-bond funds have outperformed his flagship fund. This is a guy who has consistently had problems playing in the same sandbox with his associates. The guy whose sanity was questioned during the Morningstar Conference earlier this year. And remember, Janus does not have the same bond analysis strength as PIMCO. Not even close.
I've never been a PIMCO fan though I do own PONDX. I think I didn't like PIMCO because of Gross and I think PIMCO will be a better fund-shop without him. I do like and respect Ivascyn. Maybe because Ivascyn stays out of the lime light and lets his record do his talking.
There are just to many other good unconstrained bond funds with good stable management to choose from to take a 'gamble' on Gross, IM<HO. I may be proven wrong?

Tactical or Strategic, I don't think PIMCO had an option. First, they shouldn't have made it obvious to Gross they would be firing him. They should have had more sense. Second, they already moved toward the "invest by committee" approach, so they were committed to that line of thinking. Not using multi manager approach and going with single manager for PTTRX would not necessarily have been a better option. It takes a lot for one person to fill Gross sized shoes, both literally and figuratively.
One thing PIMCO did mess up IMO, is not having Ivascyn on PTTRX as one of the 3. He is now the voice of PIMCO. He should have been on its flagship fund. "Team" and everything is fine. There are drawbacks to "team" and "individual" approach. "Team" "works" - as M* keeps alleging at American - where each manager gets his own slice to do what he wishes with it. I don't think that's what they are doing at PIMCO with "Team". Or they should maybe do that indicating, the best of breed manager is managing his assets based on his expertise.
All In All, right now the score is Gross 5, PIMCO 0.

"Pacific Investment Management Co. Chief Executive Officer Douglas Hodge said there is an “overwhelming” sense of relief and excitement following the departure of Bill Gross yesterday, according to the Wall Street Journal."
Bloomberg link that works http://www.bloomberg.com/news/2014-09-27/pimco-ceo-says-overwhelming-relief-at-gross-exit-wsj-reports.html
WSJ link (questionable) http://online.wsj.com/articles/pimco-ceo-cites-overwheling-relief-over-bill-gross-departure-1411853763
Hmm ... Pretty sure that's how they felt after I retired. Just didn't get in the newspapers. :)

Thanks. The webcast transcript highlights the differences in the portfolios of the two funds much more precisely, but the reasoning is still not entirely clear. The scope of DSL seems to be more global/emergings mkts oriented but both seem to be go anywhere. The transcript for the webcast is here:
http://doublelinefunds.com/pdf/3-25-14_Webcast_Recap.pdf

on sep 16, Gundlach had a webcast about DSL and DBL at doublelinefunds.com. Did you listen to it? Might have answer you are looking for.

... Unconstrained Bond Fund ... Share Classes are A, B, C, D, I, N, T, R, S. Classes I (institutional) and N (not sure what it stands for) have the least expensive ratio. ... I am thinking of placing some money in the fund (assuming I can get in Classes I or N) and there is no transaction fee. I checked Vanguard and Schwab and they do not offer the classes I am interested in .

As rjb112 listed in another thread the fund has "only" seven share classes - no B shares, no R shares. (Almost no fund sells B shares anymore, and likely no new fund is going to create that share class.) You can find my summary of who the seven share classes are for in my followup to rjb112's post.
I tried to paraphrase and summarize Janus' descriptions of its share classes. If you'd like Janus' official descriptions, you can find them (except for D, but including R) in the prospectus for Janus Flexible Bond Fund, Shareholder Guide Section here.
The D class shares are grandfathered for investors who already have investments directly through Janus (not through a broker/retirement plan). If that's not you, you don't need to think about them, you can't get in.
It's really very simple - if you're a new retail investor, and you don't want to pay a load, you'll buy T shares. End of story. Janus is not like PIMCO, where you might be able to get Institutional Share class shares if you go through the right broker, or you might buy D shares, or ???

Another fund with few stocks is Cobyx (I think) which is Cook and Bynum. Last time I looked at its website the fund was holding 8 stocks. Take COBYN and Fairholme and you can be a portfolio manager - - just keep up with their website postings and read this forum for updates.

Found it, COBYX, 7 stocks.....

Gross is now the manager of Janus Unconstrained Bond Fund which started in May 2014 and has, depending on the share class, about $13 million. Share Classes are A, B, C, D, I, N, T, R, S. Classes I (institutional) and N (not sure what it stands for) have the least expensive ratio. Class I is .84 and Class N is .82; there is a waiver on OER until 11/2015. I am conservative investor, don't sell or buy much, don't chase trends but I must admit I am thinking of placing some money in the fund (assuming I can get in Classes I or N) and there is no transaction fee. I checked Vanguard and Schwab and they do not offer the classes I am interested in .

PRIHX has same manager as Gold-rated PRFHX, which has Avg Eff Duration of 5.62 Yrs

I looked up some analyst reports on AIG.
Almost all analysts had basically a neutral rating.
Morningstar has a fair value estimate of $60.
The only strongly positive rating I saw was the Schwab Equity rating, which was the highest rating category they have.
Is Bruce Berkowitz seeing what other analysts are not?
I know there are some prominent value funds that own AIG, but don't recall them off the top of my head. Possibly some of the Oakmark funds?

Someone please check my arithmetic.
$3.6B ETF, $81.9M net withdrawals.
$81.9/$3,600 = 0.0255 = 2.55%
Where is this 13% coming from?

@msf: Here's what I get: 2.275%

So yes, agree with you. Have no idea where this 13% is coming from.

Were there not outflows ongoing before the Gross departure?

Since the net outflows for the ETF YTD through August were $50.4 million, and the net outflows YTD excluding Friday (as near as I can tell, Reuters and Bloomberg agree on this figure) were $71 million, we can figure that the net outflows in Sept, prior to Gross leaving, were about $20 million.
What I don't have any citation or info for is whether the August inflows continued until a few days ago when the SEC inquiry was announced.

The mid-decade rally is scheduled to begin September 30. Historically the next 18 months have been very bullish:
http://jayonthemarkets.com/2014/06/25/september-30th-mark-your-calendar/