I don't normally post messages, but have just placed a sell, and would like to share my experience, especially with the two investors who have 70K and 100K.
It was pre-dot-com era year March 2000, and I justified jumping across from Fidelity Contra to three Janus funds. I put $25,000 in each and my troubles began... Janus Enterprise Year: Value: March 2000 $25,000 EOY 2000 $14,000 ..Holy Smoke, well it can't get worse 2001 $7717 ..It did! 2002 $5793 ..It got to it's lowest 2003 $9269 ..Why am I not satisfied, 100% gain 2004 $7937 ..More frustration 2005 $9245 ..Back to 2003 value 2006 $10583 ..Better 2007 $13943 Placed sell for tomorrow Notes: Had I sold at "Holy smoke 2000" I would have saved 6-1/2 years of misery. But humans live with eternal optimism,and I fully believed I would get back to "evens".
Look at the Yahoo chart for total years I bought at $95.24, Its near highest point.
I got out of the other two janus funds long ago, but kept this one to be reminded of what can happen. I believed Mutual funds were safe, and have learned the lesson of being diversified, and never having too much in one fund. This post is not intended to be negative against Janus funds, but I am still taking a loss of 44% after seven years Such is life, don't let it happen to you. Good luck.
I think I was sitting next to you on this free fall roller-coaster called JAENX. I bought a lot in 1999 and 2000. I think I had an avg cost around $80. I, too, thought that mutual funds were *safer* than investing in a small number of stocks. The truth is that you do not need to invest ANY amount of money in the stock market unless you can suffer a complete loss without it affecting the important things in your life. I learned that painful lesson and finally sold last year during tax season to counter act some long term gains.