What is not mentioned here is that the outflows continue at Janus. For the quarter ending Sept 30, outflows added up to $2.1 billion. It remains to be seen how much of an attraction Bill Gross will be there. The last time Janus had positive inflows was in 2009.
http://www.reuters.com/article/2014/10/23/januscapital-results-idUSL2N0SI0MD20141023

Yes, what a difference a week makes...who says the market is efficient?

FYI: In a volatile two weeks of action, investors have remained remarkably upbeat.
Regards,
Ted
http://blogs.wsj.com/moneybeat/2014/10/24/morning-moneybeat-amid-roller-coaster-investors-remain-upbeat/tab/print/
Current Futures: http://finviz.com/futures.ashx

FYI: (Click On Article Title At Top Of Google Search)
Janus Capital Group Inc. Chief Executive Richard Weil on Thursday called his surprise hiring of bond kingpin Bill Gross last month “the press release heard around the world,” but said it was too soon to know the impact on the fund firm’s business.
Janus earlier in the day said that its third-quarter profits rose 25% over the prior year, but the firm’s executives didn’t attribute the gain to Mr. Gross’s arrival. They also said they wouldn’t provide any data on fund inflows until next month.
Regards,
Ted
https://www.google.com/search?newwindow=1&site=&source=hp&q=janus+profits+wsj&oq=janus+profits+wsj&gs_l=hp.3...1300.7466.0.8185.17.17.0.0.0.0.67.937.17.17.0....0...1c.1.56.hp..6.11.653.fKIIcceEEOU

FYI: (This is a follow-up article)
Deal will give advisers access to sector reports and pick lists, as well as daily, weekly and quarterly outlook reports.
Regards,
Ted
http://www.investmentnews.com/article/20141023/FREE/141029954?template=printart

FYI: If you read any financial advertising, you know that your savings are inadequate, and you're likely to freeze to death in the dark a few weeks after retirement. For this reason, most Americans' retirement planning involves keeling over at their desks, or, failing that, starting a bomb-disposal unit as a retirement business.
But how much is enough? How about $1 million
Regards,
ted
http://www.usatoday.com/story/money/columnist/waggoner/2014/10/23/can-you-retire-with-1-millio/17789939/

Dear BATS, I am overwhelmed with joy at your new addition. Meanwhile, have you given any thought-- serious, or otherwise-- to what happened several days ago, when the NASDAQ, at midday, had to stop all further trading of 150 stocks, for the rest of the trading day, because you and other option exchanges couldn't get your shit together? Just wondering.

YW, JC. Pretty wild what's going on in HY lately ... Ride My Seesaw* could be the theme song.
* Moody Blues, In Search of the Lost Chord, 1968.

10 Yr Treasury Index 22.75 +0.46 (2.06%) < For the bonders>
Better than Equity !

FYI: BATS Global Markets (BATS), a leading operator of securities markets in the U.S. and Europe, today announced that Alpha Architect's first exchange-traded fund (ETF), the ValueShares U.S. Quantitative Value ETF (bats:QVAL) begins trading today on BATS Exchange.
Regards,
Ted
http://www.marketwatch.com/story/bats-exchange-welcomes-valueshares-2014-10-22-846759/print

FYI:
Regards,
Ted
http://video.cnbc.com/gallery/?video=3000323101&play=1

@Junkster No one loves junk more than I do, but for the remainder of 2014 its all about equities.
Regards,
Ted

IVA Funds
http://www.ivafunds.com/documents/news/Estimates 2014 Capital Gains and Income Distribution.pdf

Nice post catch. And not just since January 1999 but junk bonds have beaten (barely) the S&P since junk's infamous bottom in mid December 2008. All in all, junk bonds have been the place to be this century. The allure of junk bonds has always been their risk adjusted returns as compared to the S&P. I realize some aren't into risk adjusted returns but the volatility I have to endure in an asset class is paramount to how I trade/invest, i.e. the lesser the better.

+1, Catch

Not to the messenger; but to the writers of the article. Man, I'm glad I am not in this line of work; requiring to pump out something, anything.
Did it really require two people to put together this piece; and what did anyone learn???
We learned that junk bond holdings went down, along with the broad U.S. equity market recently when some folks were a little bit shaken. Apparently the marketplace remains on the 1-3 month investment return(s) range, eh? I also don't recall an explanation related to the title.
The title could have been, "What have your investments done for you in the past 1-3 months?" Holy crap. with this type of article; as Robin would say to Batman.
My 2 cents for HY vs, well; the SP-500/ SPY.
Typical for the HY versus the SPY measurements for the past 5 years is that for every 1% move in SPY, HY bond sectors (active managed) move .25 - .33%; up and down. Plain and simple.
Yes, there are times when these numbers do not follow this pattern.
A quick view of a plain jane HY bond fund; and not even the best of the bunch, is to review SPHIX vs SPY.
Total returns:
Jan, 1999 - Oct 22, 2014
SPHIX = + 166%
SPY = + 107%
The nasty period, Oct 2007- March 19, 2009
SPHIX = - 24%
SPY = - 48%
Data source is Stockcharts.com.
Your mileage may vary.....
Regards,
Catch

Here's a Barron's blog post about the amazing bounceback of HY bonds.
The spread fell another 6 basis points yesterday.

I was looking recently at a fund I vacated about 6 months ago, CVSIX. Yikes did it take a dive starting around September 1. YTD it's up a bit over a half percent.
What's interesting about this fund is that they call it a "Market Neutral" fund and market it as a conservative income-oriented offering. In addition, Calamos sees itself as one of the leaders in fixed income, convertible & high yield investing.
FWIW

Three further comments on my "actionable advice" posting
1. Didn't mean to suggest that people should limit their comments to "actionable advice". That's simply what I'm looking for and is easier to distill than "I like this, or don't like that (without explanation)" comments. Again, just what I'm looking for.
2. I don't take anyone's advice, especially from an unknown source on the Internet, without determining if it's suitable for my situation first; and
3. haven't yet concluded that the advice rendered here is of less quality that than I would receive from a paid financial advisor.

It would seem to me that judging any fund based on a one-week period is very short-sighted. Yes, the premise is that long-short funds should have some upside participation and should have limited downside. Just what those amounts are is certainly open to discussion. A top equity fund manager said this week that the market volatility on Wednesday last week was another 'flash crash' that will result in an investigation, caused by hedge funds and other traders begin caught in the euro/dollar speculation. I would not expect my long-short fund to anticipate something like that. On a longer time horizon, however, I would and do expect L/S managers to navigate the markets reasonably well.
The group of 30+ L/S funds we track use all kinds of strategies, and only about half of them have 3-year records, and fewer than 10 have 5-year records. Those with 10-year records held up much better than the S&P 500. As I look at a handful of L/S funds with long-term records, it would appear that investors should use these with the understanding that they will underperform, sometimes significantly, when markets are in a strong bull trend. For me, that is the trade-off. The crux is how they handle real bear markets. Because we have not had one of these since 2008, it is difficult to evaluate the large number of L/S funds that have come to market in the last 1-2 years. They could look pretty good now, but they could be real stinkers in a long bear market.
Selecting the BEST long-short fund is problematic, therefore. Those with long-term measurable records include GGUIX, CLSIX, GATEX, HEOZX, MFLDX, FMLSX. It is very easy to look at some of the newer funds and assume the current performance is indicative of long-term expectations. That would be a mistake.

Not sure where the author got his list of top-10 yielder's (TIBIX shows a yield of 4.90%) but nevertheless I've always felt that an individual can build their own dividend fund choosing a handful or two of individual equities saving themselves annual expenses.