The current report is that Mr. Gross placed $700 million of his own monies into the fund. At the current return rate of -1.06% since fund inception, Mr. Gross is down $7,420,000; if the money was placed on day 1. Janus reportedly placed $100 million starter money.

FYI: don’t expect interest rates to move much before mid to late summer. When bond yields do bounce, you’ll barely notice. Yields on short-term debt might climb a quarter of a percentage point. Rates for long-term Treasury and corporate bonds and mortgage securities might work their way up by a half-point. For income investors, that is a benign outlook.
Regards,
Ted
http://www.kiplinger.com/printstory.php?pid=13121
RBS Preferreds:
http://www.quantumonline.com/ParentCoSearch.cfm?tickersymbol=RBS

FYI: Asset manager T. Rowe Price Group (TROW) said on Thursday that its head of fixed income, Michael Gitlin, has resigned and will take the same role at rival fund company Capital Group.
Regards,
Ted
http://blogs.barrons.com/focusonfunds/2015/01/22/t-rowe-prices-fixed-incom-chief-gitlin-moves-to-capital-group/tab/print/

FYI:
Regards,
Ted
WSJ Slant:
http://www.wsj.com/articles/u-s-stock-futures-rise-in-advance-of-ecb-move-1421930337
Bloomberg Slant:
http://www.bloomberg.com/news/print/2015-01-22/u-s-stock-index-futures-advance-on-ecb-stimulus-speculation.html
Reuters Slant:
http://www.reuters.com/assets/print?aid=USKBN0KV18D20150122
MarketWatch Slant:
http://www.marketwatch.com/story/us-stocks-futures-inch-up-ahead-of-ecb-meeting-jobless-claims-due-2015-01-22/print
WSJ Markets At A Glance: http://markets.wsj.com/us
Sector Tracker: http://www.sectorspdr.com/sectorspdr/tools/sector-tracker
Current Futures :http://finviz.com/futures.ashx

FYI: Mutual funds focused on paying dividends to income-minded investors outperformed the S&P 500 for much of the past 10 years.
But dividend funds have lagged since early 2013. A $10,000 investment in the average dividend mutual fund on Dec. 31, 2004, would have grown to $19,186 by Jan. 20 this year, according to Morningstar Inc. data. The same amount put in the S&P 500 would have $20,592 sitting in it now
Regards,
Ted
http://license.icopyright.net/user/viewFreeUse.act?fuid=MTg4NzgzNTU=
Enlarged Graphic;
http://news.investors.com/photopopup.aspx?path=WEBlv012215.jpg&docId=735669&xmpSource=&width=1000&height=1152&caption=&id=735579

My portfolio is quite low on small-caps (and mid-caps to a lesser extent), and I'm thinking it's time to invest in a quality small cap fund.
I have a Fidelity 401k account, as well as an HSA. I'll list the HSA funds to help narrow it down a bit.
Delaware Small-cap Value: DEVLX
Schwab Small Cap Stock Index: SWSSX
Janus Triton: JGMAX
Robeco Small Cap Value II: BPSCX
Pimco Small Cap StocksPlus: PCKAX
Royce Dividend Value: RYDVX
Transamerica Small/Mid cap Value: IIVAX
Legg Mason ClearBridge Small Cap Growth: SASMX
Of course I'm leaning towards the Schwab index fund, though the Pimco fund has better returns at the price of a much higher expense ratio. Much of the rest seems to be average performance for higher expenses, but I'm listing them for sake of posterity.
Any suggestions for my HSA (and perhaps what would be a nice NTF for my Fidelity 401k)?

FYI: Vanguard won’t just come out and tell you that any of its funds aren’t top-notch. No fund company will — not when their goal is to sell you their products.
But I will.
I still think Vanguard is the best fund family around, but even the best isn’t perfect. Some of Vanguard’s funds are nurtured by expert managers and grow to be profit-building stars, but others are misguided, whether by poor managers or a fundamentally flawed investment strategy. These funds can doom your portfolio to mediocrity — or worse, major losses. And worst of all: Most investors don’t realize these funds are subpar
Regards,
Ted
http://investorplace.com/2015/01/5-vanguard-funds-vtmsx-vgpmx-vustx-vmnfx-vexmx/print

Thanks Scott. RIMIX looks good, available at Scottrade and best of all has no short term redemption fees. I can't buy anything with a short term redemption fee. I will compare its volatility with HIEMX and go with the lower of the two. My junk munis have done well so far in 2015 but...... January is often a tell about the rest of the year and diversified emerging markets have been among the best tell so far this month, albeit the month isn't over yet..
Edit: the one year chart of RIMIX sure looks better than HIEMX.

Uhhh ... reportedly much of the net deposits came from Gross to Gross. Let's say he transferred a half billion dollars to himself and that he invested it in JUCIX, the institutional class of his own fund. The expense ratio there is 0.83%.
(mumble, mumble, scribble) 0.0083 x 500,000,000 is ... ummmm ... he's charging himself $4,150,000 for managing his personal fortune.

Let me tell you about the very rich. They are different from you and me. They possess and enjoy early, and it does something to them, makes them soft, where we are hard, cynical where we are trustful, in a way that, unless you were born rich, it is very difficult to understand.
F. Scott Fitzgerald, "The Rich Boy" (1926)

David

2015? Maybe the U.S. will not be the top performer, maybe rates won't go much lower from here but higher, maybe deflation is not inevitable, and maybe Gundlach will finally be wrong? Diversified emerging markets funds looking good so far this year so may try to build a position with of course a tight leash.

"FWIW, I only own one selection in their top 10 but I own a lot of it. That probably helps explain why I am not a billionaire."
I'm guessing Kinder?

FYI: Denver asset manager Janus Capital Group said fourth-quarter profit rose 22 percent after its hiring of star bond fund manager Bill Gross helped it reach its first quarter of net deposits since 2009.
Regards,
Ted
http://www.reuters.com/assets/print?aid=USL1N0V01AC20150122

"The iBillionaire High Dividend Index, which was just launched today, is an equally-weighted basket of 50 high-dividend stocks held by high-profile billionaires in the financial sector." From Charles Sizemore at Forbes.com
FWIW, I only own one selection in their top 10 but I own a lot of it. That probably helps explain why I am not a billionaire.
http://www.forbes.com/sites/moneybuilder/2015/01/21/what-dividend-stocks-are-the-billionaires-buying/?partner=yahootix

@jlev: "why SHRAX ?" great long-term manager, Rich Freeman, with excellent results, in the 8th percentile over 15 years.
Regards,
Ted

I copied this from the M* forums.
As Chief Technology Officer at MORNINGSTAR INC, Greg Goff made $962,819 in total compensation. Of this total $350,000 was received as a salary, $300,000 was received as a bonus, $0 was received in stock options, $299,977 was awarded as stock and $12,842 came from other types of compensation. This information is according to proxy statements filed for the 2013 fiscal year.
( It would be interesting to find out which stocks were included as part of that almost $300k. Conflict? )
Executive Management
Greg Goff
Chief Technology Officer
Morningstar, Inc.
Greg Goff is chief technology officer for Morningstar, responsible for the company’s global technology strategy.
Goff joined Morningstar in 2011. Previously, he was senior vice president of global platform technology for The Nielsen Company since 2009. He joined The Nielsen Company in 2004 as vice president of data warehousing. He has also worked for Accenture and BlueMeteor, Inc. in Chicago.
Goff holds a bachelor’s degree in electrical engineering, with high honors, from the University of Illinois at Urbana-Champaign.
It's like being a weatherman: You can be wrong many times and still have a job the next day.
Source- http://www1.salary.com/Greg-Goff-Salary-Bonus-Stock-Options-for-MORNINGSTAR-INC.html

I know I am rich --- comparatively --- without anyone telling me. And glad of it, best country in the world. Not sayin' much, many days.
Gary's mere facts are lolz fantastic, so weird. 1960. Whoa.
+1, and more, to LewisB. Keep at it, dude, seriously.

Morningstar announced five new leadership appointments in a January 12 announcement, each of which impact important business lines for Morningstar. Daniel Needham, Thomas Idzorek, Jeffrey Ptak, Scott Burns, and Rob Pinkerton have all either taken on new roles at the firm, or they will soon, with Rob Pinkerton being the newest member to the Morninstar team as a result of Morningstar’s purchase of HelloWallet.
Read more: http://dailyalts.com/morningstar-announces-new-roles-senior-leadership/

I think the most optimal outcome would be a return to a long-ago normal of 1) You don't have a rising QE tide lifting all boats 2) If you get a 5-10% return in a year, great. 3) A return to realistic volatility, whereas people don't act like the market is broken if it goes down in a day.
I can think of a very possible least optimistic outcome, as well.

Some people are living in a fantasy world.
Here are a few of the mere facts.
It's the dollar based on nothing but a promise. It's easy to inflate the value of stocks. What is your value of stocks in the terms of 1960 dollars? I bet you lost you're ass - compliments of your politicians. It's the social security lock box. Its Dian Feinstein's statement that "we don't know what is in Obama care bill till it becomes law". It's the promises politicians have made to get elected. It's the deadbeats in this country that think the world owes them a living. It's the insurance companies that get in between you and your doctor. It's the credit card companies that get in between you money and what you purchase. Its the lack of tort reform that is bringing every industry to their financial knees. Its the pension system that will be worthless when you come to need it. Its the increasing taxes that are based on false promises. I don't see any distinction between any of the modern political parties. Politicians would go broke if they had to work for a living. It's a travesty to create debt that your grand children will be saddled with
In terms of 1960 dollars and lifestyle we have all lost our ass !!
Do I dare say more