Janus Fund Goes Against The Grain; Manager Limits Losses; Janus Contrarian Fund defies Wall Street gurus to score long-term wins.(MUTUAL FUNDS)(MUTUAL FUND PROFILE)

Publication: Investor's Business Daily

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COPYRIGHT 2005 Investor's Business Daily, Inc.

Byline: MURRAY COLEMAN

David Decker courts controversy.

He manages $2.8 billion Janus Contrarian Fund. And like the name implies, Decker prefers to go against Wall Street's grain.

Some brand his style of investing as reckless. They cite volatility during its initial two years. The go-anywhere fund lost 11.7% and 23.7% in 2001 and 2002. But the general market as measured by the S&P 500 did even worse.

In 2003 and 2004, the fund roared back. It crushed the market and easily sailed past its mid-cap blend rivals tracked by Morningstar.

This year, it's keeping up the heat. The fund had gained 11.10% heading into...

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