Is Janus Capital a buy?
I will step back from the overall philosophy of long term sustainable wealth to make a quick blurb about Janus (JNS) as I have made a couple of 10%+ swing trades of Janus in the past couple months.
While I have bought Janus every time it’s dropped below $10.75 this year and sold it above $12, I think this time it’s quite likely that we will see sustained downside until it drops below $10.
The clerical error that resulted in a big hit to last’s quarters earnings shouldn’t reflect poorly on long term profits, but I think the added blow of the investigation of insider trading, could be enough to shave off another 5% of Janus’s market cap. Whether you buy at $10.44 or $9.98 I think that Janus will certainly outperform the S&P over the next 12 months.
I personally, am holding on for a drop below $10.