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I think it is bigger than that. I think bond funds in general are not going to be the place to be for the next 10 years. People don't leave at age 47 to spend time with their family. No, they don't. They don't. The smartest managers are those who know how good they've had in their "area of expertise" and quit at the top.
I'm going to seriously reconsider all my bond and balanced funds. Cash might be better option. Also looking at GTSOX and TALSX, but so far not been convinced enough to pull the trigger.
On a side note, Weil is pals with Gross. I can't help but wonder there is a something cooking in bond-world at Janus. I'm frankly SEEin the rat before I'm smelling it.
VF - I agree, at age 47 at the height of your career you don't quit - especially someone as good as Gibson Smith was - something else is going on. I've owned several Janus funds in taxable accounts, some for 20 years, but have been paring them down in recent years and am left with JANIX, JNGLX, and JNPSX. Although they have nothing to do with the fixed income side, I'm still concerned about Janus' corporate culture.
As far as my balanced funds go I'm not worried - when interest rates rise, the balanced funds will buy new bonds at higher rates to offset the loss in principal when their existing bond holdings mature. My balanced funds I own have short durations and mostly corporate debt.
Comments
I'm going to seriously reconsider all my bond and balanced funds. Cash might be better option. Also looking at GTSOX and TALSX, but so far not been convinced enough to pull the trigger.
On a side note, Weil is pals with Gross. I can't help but wonder there is a something cooking in bond-world at Janus. I'm frankly SEEin the rat before I'm smelling it.
Full disclosure, I own JUCDX and JPVDX.
As far as my balanced funds go I'm not worried - when interest rates rise, the balanced funds will buy new bonds at higher rates to offset the loss in principal when their existing bond holdings mature. My balanced funds I own have short durations and mostly corporate debt.