Mutual fund news: Facebook, Bill Gross, Vanguard

May 25, 2012 • Business

FILE – This undated file photo provided by the Pacific Investment Management Co., shows Bill Gross, manager of the PIMCO Total Return Fund. Gross is a three-time winner of Morningstar’s bond fund manager of the year title, in addition to honors covering the last decade. The strong record he’s compiled at PIMCO Total Return (PTTAX) is a key reason why it’s attracted enough investors to become the world’s largest mutual fund, with nearly $259 billion in assets. Yet last year, Gross went through a rough patch, posting a 3.7 percent return that trailed the vast majority of intermediate-term bond funds. (AP Photo/Pacific Investment Management Co., File)

BOSTON (AP) — Invest for the long term and keep daily news in perspective. It’s easy to get sucked into a negative mindset, with troubles at Facebook and JPMorgan Chase in the headlines.

The social network’s botched IPO and the bank’s recent $2 billion trading loss hardly instill confidence in the Login to read more

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