Imitation, the saying goes, is the sincerest form of flattery. In the financial services industry, it's often flattery that investors could do well without: A crush of similar products in a niche market is often a sign to run in the opposite direction.
Kenneth Heebner ranked as America’s No. 1 stock picker before losing his touch and most of his main fund’s assets. The 71-year-old manager, at the bottom of his peer group for the fourth year in five, hasn’t lost his swagger.
Marc Pinto and Gibson Smith, co- managers of the $8.9 billion Janus Balanced Fund, gave investors the highest returns with the lowest volatility among asset- allocation mutual funds by leveraging their bond research to pick stocks.