As for financials, Janus Capital(JNS), Franklin Resources(BEN) and T. Rowe Price (TROW) are all up. "It's very hard to call a rally still a bear market rally if you have money coming into these stocks," said Cramer.

Should You Fire Your Fund Manager?: Russel Kinnel, director of mutual fund research at Morningstar and author of FundSpy, names his favorite fund managers and tells you what to do if your mutual fund manager fails you.
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Great management and zero debt.

Legg Mason(LM) -- With its 5.3% yield and a brand name that must still hold some cachet, you would like to snap it up until you realize that the company's got about $3 billion in long-term debt. How can that company compete with T. Rowe Price (TROW), which has no debt?

The question is whether now's the time to buy. Some of the 25, including cigarette maker Altria Group (MO) and investment manager T. Rowe Price (TROW), are less attractive because they have fallen less than 5% in the past 12 months, yet investors know they can weather a downturn.

Even at their current prices, private-equity shares aren't bargains. Traditional asset managers such as AllianceBernstein (AB), Franklin Resources (BEN), BlackRock (BLK) and T. Rowe Price (TROW) look like better bets on a recovery in the markets. They're cheaper (based on assets under management) and more diversified, and they don't depend on incentive fees for a sizable chunk of their profits

Because of the recent market turmoil, usually pricey T. Rowe Price shares look like a good deal. The Baltimore asset manager's upside is at least 10% over the next 12 months.

Money manager T. Rowe Price Group Inc.'s board has given the company approval to buy back up to 15 million more shares of its stock.

All together, that means the company now has approval to buy back more than 21 million shares.

Companies often buy back shares in hopes of boosting their stock price, or to demonstrate that the best way to spend their cash in the current market is on their own stock.

Baltimore-based T. Rowe's board made a similar move in February 2007, giving the company approval to buy back up to 19 million shares of stock at that time.

T. Rowe has $379 billion in assets under management.

The stock trades for 13x cash flow.

Buy - Price 57.92 on June 4
by Jefferies & Co.

The underlying strength of TROW's suite of investment products continues to drive above-average organic growth and justifies [its] premium valuation....Our target of 67 is based upon 22.5 times our 2009 EPS estimate of $2.95. This represents a premium to peers, which we believe is justified given TROW's superior return metrics, absence of leverage and stable earnings growth. Risks...include prolonged market weakness and poor relative fund performance. Market cap: $15 billion.

T.Rowe Price.

Largely advisory.

Example - five big funds: Equity Income, Growth Stock, Mid-Cap Growth, Blue Chip Growth and Capital Appreciation (23%+ of its holdings)