Several of us held the Marsico Flexible Capital Fund (MFCFX) and made good money under the stewardship of Doug Rao. He took over the Janus 40 fund (JACTX) in mid-2013 and he must have sold practically everything. The poor shareholders got stuck with $9.17 per share in distributions for 2013 and $14.20 for 2014. This is for a fund whose NAV is around $31.00 today. I'm working on my taxes and needed a break, so I looked Rao up. I'm paying my share of capital gains this year, but nothing like this example.
