Looking Forward Through Looking Back

Janus has decided to lose a face by laying off 115 workers out of about 1,000. Redemptions in the mutual funds industry were quite high in October and this impacted Janus while expecting it to last through 2009.

If they're saying through 2009 now, you can guess that they have mis-estimated as per usual and it may last into and through 2010. Just like sub-prime was contained and other fallacies made with the rose-coloured glasses perched neatly across the nose, these types of predictions are likely to be incorrect with the duration longer than expected no matter how many cockamamie whimsical ad-hoc bailout and stimuli are produced.

Janus is headquartered in Denver, CO.