Manny Roman believes a lot of mutual funds stink, saying this during a recent TED Talk in London: “When you look at the mutual fund industry, when you look at the way they manage your 401(k), it’s a really, really sad story.” His words didn't discourage PIMCO CIO Dan Ivascyn, however, who picked Roman after a nearly year-long search for a new CEO. “The industry is going through a tremendous period of change,” Ivascyn said. “And then PIMCO, of course, has gone through a tremendous period of change.” Read the original story from Bloomberg.