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Strategies & Market Trends : JAVLX Janus Twenty Fund -- Ignore unavailable to you. Want to Upgrade?

To: Esway who wrote (5)	8/1/2000 1:31:37 AM
From: Bruce McGaughey	Read Replies (1) \| Respond to of 7

Most of the action in the market since the '98 "crash" has been in the "Nifty 50". Janus Funds have been there heavily and it's made them a lot of money. I kind of wonder if we'll ever go back to trading on value again. Most people buy DELL,INTC,AOL,CSCO,etc on weakness and then just hold on; buying some more on dips. I also have money in Legg Mason Value Trust (LMVTX). It's run by Bill Miller and LMVTX is THE ONLY fund to have beaten the S&P every year for the last 9 years. Last year, Morningstar voted him "Manager of The Decade". He did all of this by buying like Warren Buffett (low price vs. Intrinsic Value) and then he cheated by buying a lot of AOL and DELL, early in the nineties. This last March, he dumped a good part of AOL and DELL and went back to buying value plays...Waste Management, Toys R Us, Mattel. He's a botton-fisher of companies with near-monopolies. Which approach will be right ?? Bottom-fishing or Nifty 50 ??? Who knows. Stay tuned. JAVLX vs. LMVTX graph: www2.marketwatch.com